Skandinaviska Enskilda Banken AB publ Reduces Stock Position in U.S. Bancorp $USB

Skandinaviska Enskilda Banken AB publ decreased its holdings in U.S. Bancorp (NYSE:USB) by 2.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 767,816 shares of the financial services provider’s stock after selling 16,848 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in U.S. Bancorp were worth $37,109,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Summitry LLC grew its holdings in shares of U.S. Bancorp by 6.8% in the third quarter. Summitry LLC now owns 140,580 shares of the financial services provider’s stock worth $6,794,000 after purchasing an additional 9,008 shares during the last quarter. Vanguard Group Inc. boosted its position in U.S. Bancorp by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 144,548,379 shares of the financial services provider’s stock valued at $6,986,023,000 after buying an additional 1,279,104 shares during the period. Smithfield Trust Co grew its stake in U.S. Bancorp by 2,543.2% in the 3rd quarter. Smithfield Trust Co now owns 1,956 shares of the financial services provider’s stock worth $95,000 after acquiring an additional 1,882 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in shares of U.S. Bancorp by 3.1% during the third quarter. State of New Jersey Common Pension Fund D now owns 523,423 shares of the financial services provider’s stock worth $25,297,000 after acquiring an additional 15,822 shares during the period. Finally, HighTower Advisors LLC raised its stake in shares of U.S. Bancorp by 6.5% during the third quarter. HighTower Advisors LLC now owns 821,879 shares of the financial services provider’s stock valued at $39,722,000 after acquiring an additional 50,132 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at U.S. Bancorp

In related news, insider Mark G. Runkel sold 32,195 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the transaction, the insider directly owned 97,728 shares in the company, valued at $5,927,203.20. The trade was a 24.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

USB stock opened at $58.16 on Wednesday. U.S. Bancorp has a one year low of $35.18 and a one year high of $61.19. The firm has a market cap of $90.41 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 1.03 and a beta of 1.06. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a 50-day simple moving average of $55.68 and a two-hundred day simple moving average of $50.56.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 EPS for the quarter, topping the consensus estimate of $1.19 by $0.07. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The firm had revenue of $7.92 billion during the quarter, compared to analyst estimates of $7.31 billion. During the same quarter in the previous year, the business posted $1.07 EPS. U.S. Bancorp’s revenue was up 5.1% on a year-over-year basis. On average, equities analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio is currently 45.02%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. UBS Group reissued a “neutral” rating and issued a $60.00 price objective on shares of U.S. Bancorp in a research note on Wednesday, February 4th. JPMorgan Chase & Co. increased their price target on U.S. Bancorp from $55.50 to $62.00 and gave the stock an “underweight” rating in a research report on Monday, February 9th. HSBC restated a “buy” rating and set a $62.00 price target on shares of U.S. Bancorp in a research note on Wednesday, January 7th. Evercore upped their price objective on shares of U.S. Bancorp from $60.00 to $65.00 and gave the stock an “in-line” rating in a research note on Thursday, February 5th. Finally, Argus raised their target price on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $59.79.

About U.S. Bancorp

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.