U.S. Bancorp (NYSE:USB) Shares Purchased by OFI Invest Asset Management

OFI Invest Asset Management grew its position in shares of U.S. Bancorp (NYSE:USB) by 2.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,177 shares of the financial services provider’s stock after acquiring an additional 662 shares during the quarter. OFI Invest Asset Management’s holdings in U.S. Bancorp were worth $859,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of USB. Financial Synergies Wealth Advisors Inc. acquired a new stake in U.S. Bancorp in the first quarter valued at approximately $30,000. LRI Investments LLC purchased a new position in U.S. Bancorp in the first quarter valued at about $31,000. Eagle Bay Advisors LLC grew its stake in U.S. Bancorp by 93.2% during the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 331 shares in the last quarter. Naples Money Management LLC purchased a new stake in U.S. Bancorp during the 4th quarter worth approximately $30,000. Finally, Crewe Advisors LLC acquired a new position in shares of U.S. Bancorp in the 1st quarter valued at approximately $39,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on USB. Jefferies Financial Group cut their target price on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. The Goldman Sachs Group lifted their price objective on shares of U.S. Bancorp from $42.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Morgan Stanley boosted their price target on U.S. Bancorp from $47.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Finally, Evercore ISI raised their price target on U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, U.S. Bancorp has an average rating of “Hold” and a consensus price target of $48.23.

Insider Transactions at U.S. Bancorp

In related news, Director Aleem Gillani acquired 10,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were purchased at an average cost of $44.99 per share, with a total value of $449,900.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,900. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.23% of the stock is owned by insiders.

U.S. Bancorp Trading Up 0.9 %

Shares of NYSE USB traded up $0.38 during mid-day trading on Friday, hitting $43.19. 5,369,520 shares of the company traded hands, compared to its average volume of 8,505,938. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a 1 year low of $30.47 and a 1 year high of $45.88. The stock has a market capitalization of $67.40 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 4.20 and a beta of 1.04. The business has a 50 day moving average of $41.59 and a two-hundred day moving average of $41.58.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. The company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The company’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.12 earnings per share. On average, sell-side analysts anticipate that U.S. Bancorp will post 3.9 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a $0.49 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.54%. U.S. Bancorp’s dividend payout ratio is 64.90%.

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.