Great Lakes Advisors LLC Acquires Shares of 79,279 U.S. Bancorp $USB

Great Lakes Advisors LLC bought a new position in U.S. Bancorp (NYSE:USB) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 79,279 shares of the financial services provider’s stock, valued at approximately $4,788,000.

A number of other large investors have also modified their holdings of USB. Foster & Motley Inc. acquired a new position in U.S. Bancorp during the 2nd quarter worth approximately $2,968,000. Commerzbank Aktiengesellschaft FI acquired a new position in shares of U.S. Bancorp during the second quarter worth $10,490,000. Trust Co. of Vermont purchased a new position in shares of U.S. Bancorp in the second quarter valued at $3,845,000. Mufg Bank LTD. purchased a new position in shares of U.S. Bancorp in the second quarter valued at $2,680,199,000. Finally, Plato Investment Management Ltd acquired a new stake in U.S. Bancorp during the 2nd quarter valued at $3,208,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 3.1%

Shares of U.S. Bancorp stock opened at $62.79 on Thursday. The business has a 50-day moving average price of $62.25 and a 200 day moving average price of $57.56. U.S. Bancorp has a fifty-two week low of $45.02 and a fifty-two week high of $66.07. The firm has a market cap of $97.82 billion, a P/E ratio of 12.53, a P/E/G ratio of 1.06 and a beta of 0.96. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.07. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.The company had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same quarter last year, the business posted $1.11 EPS. On average, sell-side analysts forecast that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.52 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.08 annualized dividend and a yield of 3.3%. U.S. Bancorp’s payout ratio is presently 41.52%.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Stephen L. Philipson sold 36,906 shares of the stock in a transaction on Monday, July 20th. The shares were sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the sale, the insider directly owned 74,969 shares of the company’s stock, valued at approximately $4,729,044.52. This represents a 32.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on USB. Barclays lifted their price target on shares of U.S. Bancorp from $67.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. JPMorgan Chase & Co. raised their target price on U.S. Bancorp from $67.50 to $69.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Morgan Stanley boosted their price target on U.S. Bancorp from $64.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Jefferies Financial Group raised U.S. Bancorp from a “hold” rating to a “buy” rating and increased their price target for the company from $60.00 to $75.00 in a report on Monday, July 6th. Finally, Raymond James Financial initiated coverage on U.S. Bancorp in a research note on Wednesday, July 8th. They set a “strong-buy” rating and a $72.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.06.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.