Lazard Asset Management LLC Raises Holdings in U.S. Bancorp $USB

Lazard Asset Management LLC increased its holdings in U.S. Bancorp (NYSE:USB) by 40.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,925,255 shares of the financial services provider’s stock after buying an additional 841,397 shares during the period. Lazard Asset Management LLC’s holdings in U.S. Bancorp were worth $152,142,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Brighton Jones LLC boosted its position in U.S. Bancorp by 323.0% during the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock valued at $2,309,000 after purchasing an additional 36,863 shares in the last quarter. Empowered Funds LLC grew its stake in U.S. Bancorp by 2.1% in the first quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock valued at $1,453,000 after purchasing an additional 714 shares during the last quarter. Intech Investment Management LLC raised its holdings in U.S. Bancorp by 18.9% in the first quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock worth $1,658,000 after purchasing an additional 6,252 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of U.S. Bancorp during the second quarter valued at about $425,000. Finally, Nebula Research & Development LLC purchased a new stake in shares of U.S. Bancorp during the second quarter valued at about $701,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP Venkatachari Dilip sold 34,522 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the transaction, the executive vice president directly owned 51,292 shares of the company’s stock, valued at $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

U.S. Bancorp Stock Down 0.1%

Shares of USB opened at $63.91 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. U.S. Bancorp has a 12 month low of $43.46 and a 12 month high of $64.84. The stock’s 50 day moving average is $58.89 and its two-hundred day moving average is $56.43. The firm has a market cap of $99.14 billion, a P/E ratio of 12.76, a PEG ratio of 1.05 and a beta of 0.96.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.The business had revenue of $7.71 billion during the quarter, compared to the consensus estimate of $7.58 billion. During the same period in the prior year, the company posted $1.11 EPS. Analysts predict that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on USB shares. Keefe, Bruyette & Woods lifted their price objective on shares of U.S. Bancorp from $63.00 to $66.00 and gave the stock a “market perform” rating in a research report on Friday, July 17th. Wells Fargo & Company increased their target price on shares of U.S. Bancorp from $66.00 to $69.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. DA Davidson lifted their target price on shares of U.S. Bancorp from $72.00 to $74.00 and gave the company a “buy” rating in a report on Friday, July 17th. Morgan Stanley boosted their target price on shares of U.S. Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Finally, Weiss Ratings upgraded shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.00.

U.S. Bancorp Company Profile

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.