DNB Asset Management AS Has $13.33 Million Position in U.S. Bancorp $USB

DNB Asset Management AS raised its holdings in shares of U.S. Bancorp (NYSE:USB) by 4.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 294,657 shares of the financial services provider’s stock after purchasing an additional 13,129 shares during the quarter. DNB Asset Management AS’s holdings in U.S. Bancorp were worth $13,333,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Ally Financial Inc. boosted its position in shares of U.S. Bancorp by 12.3% during the first quarter. Ally Financial Inc. now owns 91,000 shares of the financial services provider’s stock valued at $3,842,000 after buying an additional 10,000 shares during the last quarter. Andra AP fonden lifted its stake in U.S. Bancorp by 175.6% during the 2nd quarter. Andra AP fonden now owns 458,400 shares of the financial services provider’s stock valued at $20,743,000 after acquiring an additional 292,100 shares in the last quarter. Jump Financial LLC boosted its holdings in U.S. Bancorp by 1,952.5% during the 1st quarter. Jump Financial LLC now owns 840,308 shares of the financial services provider’s stock worth $35,478,000 after acquiring an additional 799,368 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc purchased a new position in U.S. Bancorp during the 1st quarter worth $428,000. Finally, Orion Capital Management LLC bought a new stake in shares of U.S. Bancorp in the 1st quarter worth $616,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $47.73 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10. The stock has a fifty day simple moving average of $47.56 and a two-hundred day simple moving average of $46.29. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The firm has a market cap of $74.19 billion, a price-to-earnings ratio of 10.92, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The firm had revenue of $7.34 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter in the prior year, the firm earned $1.03 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. Analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were paid a $0.52 dividend. The ex-dividend date was Tuesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. U.S. Bancorp’s dividend payout ratio is 47.60%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, EVP James L. Chosy sold 26,909 shares of the business’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the sale, the executive vice president owned 226,375 shares of the company’s stock, valued at $10,607,932.50. The trade was a 10.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Andrew Cecere sold 140,445 shares of the stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.34, for a total value of $6,508,221.30. Following the sale, the chairman owned 1,360,414 shares in the company, valued at approximately $63,041,584.76. This represents a 9.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

USB has been the subject of several analyst reports. Evercore ISI increased their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. The Goldman Sachs Group set a $52.00 price target on U.S. Bancorp and gave the company a “neutral” rating in a research report on Friday, October 17th. Wells Fargo & Company boosted their price objective on U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, October 17th. Cowen restated a “buy” rating on shares of U.S. Bancorp in a research note on Monday, October 20th. Finally, DA Davidson lifted their target price on U.S. Bancorp from $57.00 to $59.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $54.45.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.