U.S. Bancorp $USB Stock Purchased by Community Bank of Raymore

Community Bank of Raymore increased its stake in shares of U.S. Bancorp (NYSE:USB) by 77.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 121,224 shares of the financial services provider’s stock after buying an additional 52,800 shares during the quarter. U.S. Bancorp comprises 3.9% of Community Bank of Raymore’s holdings, making the stock its 6th largest position. Community Bank of Raymore’s holdings in U.S. Bancorp were worth $7,002,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Mufg Bank LTD. acquired a new position in U.S. Bancorp during the second quarter worth $2,680,199,000. Bank of New York Mellon Corp acquired a new stake in shares of U.S. Bancorp in the 2nd quarter worth $536,457,000. First Trust Advisors LP increased its stake in shares of U.S. Bancorp by 39.9% in the 1st quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider’s stock worth $422,261,000 after acquiring an additional 2,314,081 shares during the last quarter. KBC Group NV raised its holdings in shares of U.S. Bancorp by 259.0% during the 1st quarter. KBC Group NV now owns 1,888,428 shares of the financial services provider’s stock worth $98,217,000 after acquiring an additional 1,362,416 shares during the period. Finally, Amundi raised its holdings in shares of U.S. Bancorp by 25.2% during the 1st quarter. Amundi now owns 6,470,642 shares of the financial services provider’s stock worth $336,538,000 after acquiring an additional 1,301,547 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on USB shares. Oppenheimer boosted their price target on shares of U.S. Bancorp from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, October 16th. Barclays upped their price objective on shares of U.S. Bancorp from $67.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Stephens raised their price objective on shares of U.S. Bancorp from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Friday, July 17th. BTIG Research set a $67.50 target price on shares of U.S. Bancorp in a research note on Monday, July 20th. Finally, Evercore upgraded shares of U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 target price on the stock in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $69.19.

Insider Buying and Selling

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

U.S. Bancorp Price Performance

NYSE:USB opened at $59.59 on Friday. U.S. Bancorp has a 52 week low of $45.02 and a 52 week high of $66.07. The stock’s fifty day moving average is $60.25 and its two-hundred day moving average is $59.25. The company has a market capitalization of $92.84 billion, a P/E ratio of 11.62, a P/E/G ratio of 1.14 and a beta of 1.00. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.87.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.02. The business had revenue of $8.04 billion during the quarter, compared to analysts’ expectations of $8 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.22 EPS. Equities analysts expect that U.S. Bancorp will post 5.29 EPS for the current year.

U.S. Bancorp Increases Dividend

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

About U.S. Bancorp

U.S. Bancorp (NYSE: USB) is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. U.S. Bank provides banking, lending, payment, investment and wealth-management services to individuals, businesses, institutions and government entities.

The company’s consumer and business banking operations offer deposit accounts, mortgages, home-equity and consumer loans, credit cards, small-business banking and commercial lending.