20,481 Shares in U.S. Bancorp $USB Purchased by Dearborn Partners LLC

Dearborn Partners LLC acquired a new position in U.S. Bancorp (NYSE:USB) in the 2nd quarter, HoldingsChannel reports. The fund acquired 20,481 shares of the financial services provider’s stock, valued at approximately $1,065,000.

Several other large investors have also modified their holdings of the business. Mufg Bank LTD. bought a new position in shares of U.S. Bancorp during the second quarter valued at approximately $2,680,199,000. Norges Bank bought a new stake in shares of U.S. Bancorp during the 4th quarter worth approximately $1,887,497,000. Auto Owners Insurance Co boosted its holdings in U.S. Bancorp by 5,236.0% during the 4th quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock valued at $1,779,556,000 after acquiring an additional 32,725,000 shares during the period. Bank of New York Mellon Corp purchased a new position in U.S. Bancorp during the 2nd quarter valued at $536,457,000. Finally, Capital Research Global Investors bought a new position in U.S. Bancorp in the 4th quarter valued at $296,377,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Keefe, Bruyette & Woods increased their target price on U.S. Bancorp from $63.00 to $66.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th. Barclays boosted their target price on shares of U.S. Bancorp from $67.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Wells Fargo & Company upped their price target on shares of U.S. Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Raymond James Financial started coverage on shares of U.S. Bancorp in a research note on Wednesday, July 8th. They issued a “strong-buy” rating and a $72.00 price target on the stock. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of U.S. Bancorp in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given 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 $67.06.

U.S. Bancorp Price Performance

NYSE USB opened at $62.42 on Tuesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.82 and a current ratio of 0.83. The firm’s 50 day moving average price is $62.49 and its 200-day moving average price is $57.66. U.S. Bancorp has a 52-week low of $45.02 and a 52-week high of $66.07. The company has a market cap of $97.26 billion, a PE ratio of 12.46, a P/E/G ratio of 1.02 and a beta of 0.96.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.07. The company had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.58 billion. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. During the same quarter in the previous year, the firm posted $1.11 earnings per share. Sell-side analysts forecast that U.S. Bancorp will post 5.22 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a $0.52 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.3%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 41.52%.

Insider Activity at U.S. Bancorp

In other news, insider Stephen L. Philipson sold 36,906 shares of the business’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $63.08, for a total value of $2,328,030.48. Following the completion of the transaction, the insider directly owned 74,969 shares of the company’s stock, valued at approximately $4,729,044.52. The trade was a 32.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.21% of the company’s stock.

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.