Morgan Stanley Buys 243,361 Shares of U.S. Bancorp (USB)

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Morgan Stanley grew its stake in shares of U.S. Bancorp (NYSE:USB) by 6.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,148,385 shares of the financial services provider’s stock after acquiring an additional 243,361 shares during the period. Morgan Stanley owned 0.25% of U.S. Bancorp worth $207,503,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of USB. LSV Asset Management lifted its position in shares of U.S. Bancorp by 15.7% during the first quarter. LSV Asset Management now owns 19,900 shares of the financial services provider’s stock worth $1,004,000 after acquiring an additional 2,700 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of U.S. Bancorp by 424.9% during the first quarter. Thrivent Financial for Lutherans now owns 375,995 shares of the financial services provider’s stock worth $18,988,000 after acquiring an additional 304,367 shares in the last quarter. Motco lifted its position in shares of U.S. Bancorp by 112.8% during the first quarter. Motco now owns 4,901 shares of the financial services provider’s stock worth $248,000 after acquiring an additional 2,598 shares in the last quarter. US Bancorp DE lifted its position in shares of U.S. Bancorp by 0.9% during the first quarter. US Bancorp DE now owns 13,660,710 shares of the financial services provider’s stock worth $689,865,000 after acquiring an additional 116,418 shares in the last quarter. Finally, Skba Capital Management LLC lifted its position in shares of U.S. Bancorp by 9.4% during the first quarter. Skba Capital Management LLC now owns 415,100 shares of the financial services provider’s stock worth $20,963,000 after acquiring an additional 35,700 shares in the last quarter. Hedge funds and other institutional investors own 74.29% of the company’s stock.

In related news, Vice Chairman John R. Elmore sold 58,924 shares of the stock in a transaction on Monday, July 23rd. The stock was sold at an average price of $51.71, for a total value of $3,046,960.04. Following the transaction, the insider now owns 98,371 shares of the company’s stock, valued at $5,086,764.41. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.43% of the stock is owned by corporate insiders.

A number of equities research analysts recently issued reports on USB shares. ValuEngine upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, July 26th. Zacks Investment Research downgraded U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Finally, Wedbush reiterated a “neutral” rating on shares of U.S. Bancorp in a research report on Monday, July 23rd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. U.S. Bancorp currently has a consensus rating of “Hold” and an average price target of $59.63.

USB opened at $53.93 on Tuesday. The firm has a market capitalization of $86.03 billion, a P/E ratio of 15.75, a PEG ratio of 1.73 and a beta of 0.98. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.83. U.S. Bancorp has a 52 week low of $48.49 and a 52 week high of $58.50.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, July 18th. The financial services provider reported $1.02 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.01. The business had revenue of $5.64 billion for the quarter, compared to analysts’ expectations of $5.64 billion. U.S. Bancorp had a return on equity of 14.66% and a net margin of 26.96%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share. As a group, sell-side analysts anticipate that U.S. Bancorp will post 4.07 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Thursday, September 27th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.30. U.S. Bancorp’s dividend payout ratio is currently 43.27%.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

Further Reading: What Is An Exchange-Traded Fund (ETF)?

Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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