U.S. Bancorp $USB Stock: Fisher Asset Management LLC Raises Stake

Fisher Asset Management LLC lifted its position in shares of U.S. Bancorp (NYSE:USB) by 1.4% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,774,499 shares of the financial services provider’s stock after acquiring an additional 64,211 shares during the quarter. Fisher Asset Management LLC’s holdings in U.S. Bancorp were worth $275,775,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in USB. Legacy Trust lifted its position in shares of U.S. Bancorp by 1.2% in the 3rd quarter. Legacy Trust now owns 71,066 shares of the financial services provider’s stock worth $4,225,000 after buying an additional 829 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of U.S. Bancorp by 12.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,338,154 shares of the financial services provider’s stock valued at $77,365,000 after buying an additional 150,600 shares during the period. R Squared Ltd acquired a new position in shares of U.S. Bancorp in the 3rd quarter valued at about $428,000. Maryland State Retirement & Pension System grew its position in shares of U.S. Bancorp by 13.1% during the 3rd quarter. Maryland State Retirement & Pension System now owns 94,631 shares of the financial services provider’s stock valued at $5,466,000 after buying an additional 10,942 shares during the last quarter. Finally, International Private Wealth Advisors LLC grew its position in shares of U.S. Bancorp by 18.8% during the 3rd quarter. International Private Wealth Advisors LLC now owns 7,170 shares of the financial services provider’s stock valued at $414,000 after buying an additional 1,137 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other U.S. Bancorp news, CEO Gunjan Kedia sold 27,267 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the completion of the transaction, the chief executive officer directly owned 426,262 shares of the company’s stock, valued at $26,585,960.94. The trade was a 6.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on USB. Royal Bank Of Canada dropped their price objective on shares of U.S. Bancorp from $68.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, October 16th. Weiss Ratings restated a “buy (b)” rating on shares of U.S. Bancorp in a research note on Thursday, October 29th. Wells Fargo & Company lifted their target price on U.S. Bancorp from $66.00 to $69.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Morgan Stanley set a $68.00 target price on U.S. Bancorp in a report on Friday, October 16th. Finally, DA Davidson reiterated a “buy” rating and set a $73.00 price target (up from $65.00) on shares of U.S. Bancorp in a research report on Friday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.65.

U.S. Bancorp Stock Performance

USB stock opened at $60.53 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.83 and a current ratio of 0.83. The stock has a market capitalization of $94.32 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.16 and a beta of 1.02. U.S. Bancorp has a 1 year low of $45.02 and a 1 year high of $66.07. The stock’s fifty day moving average is $59.55 and its two-hundred day moving average is $58.28.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.02. The company had revenue of $8.04 billion during the quarter, compared to the consensus estimate of $8 billion. U.S. Bancorp had a net margin of 18.85% and a return on equity of 13.85%. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.22 earnings per share. On average, research analysts predict that U.S. Bancorp will post 5.30 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a $0.54 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $2.16 annualized dividend and a yield of 3.6%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.52. U.S. Bancorp’s payout ratio is 42.11%.

U.S. Bancorp Company Profile

U.S. Bancorp is the parent company of U.S. Bank, a financial services provider serving consumers, businesses, institutions and government entities across the United States. Its history traces to 1863, when one of its predecessor institutions, First National Bank of Cincinnati, was established. U.S. Bank offers consumer and business banking, lending, payment services, wealth management, investment services and corporate trust services. Its products include checking and savings accounts, credit cards, mortgages, commercial loans and digital banking solutions.