Great Lakes Advisors LLC Acquires New Shares in U.S. Bancorp $USB

Great Lakes Advisors LLC acquired a new position in shares of U.S. Bancorp (NYSE:USB) in the second quarter, HoldingsChannel.com reports. The firm acquired 79,279 shares of the financial services provider’s stock, valued at approximately $4,788,000.

Several other large investors have also recently added to or reduced their stakes in USB. Financial Life Planners bought a new stake in U.S. Bancorp in the 1st quarter valued at about $27,000. Main Street Group LTD acquired a new stake in shares of U.S. Bancorp in the first quarter valued at approximately $28,000. JPL Wealth Management LLC acquired a new stake in shares of U.S. Bancorp in the third quarter valued at approximately $28,000. Binnacle Investments Inc raised its holdings in shares of U.S. Bancorp by 77.8% during the third quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after buying an additional 273 shares during the last quarter. Finally, NFSG Corp acquired a new position in shares of U.S. Bancorp during the first quarter worth approximately $31,000. 77.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on USB. Morgan Stanley increased their price objective on U.S. Bancorp from $64.00 to $67.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Oppenheimer increased their price target on U.S. Bancorp from $73.00 to $77.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. Barclays lifted their price objective 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. Robert W. Baird upped their price objective on shares of U.S. Bancorp from $64.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, July 17th. Finally, BTIG Research set a $67.50 target price on shares of U.S. Bancorp in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $67.06.

U.S. Bancorp Stock Performance

USB opened at $62.79 on Thursday. The business has a 50 day moving average price of $62.25 and a two-hundred day moving average price of $57.56. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82. The company has a market capitalization of $97.82 billion, a price-to-earnings ratio of 12.53, a price-to-earnings-growth ratio of 1.06 and a beta of 0.96. U.S. Bancorp has a 1-year low of $45.02 and a 1-year high of $66.07.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating 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 company had revenue of $7.69 billion for the quarter, compared to analysts’ expectations of $7.58 billion. During the same period last year, the firm earned $1.11 EPS. Research analysts predict that U.S. Bancorp will post 5.22 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

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

Insider Transactions at U.S. Bancorp

In related news, insider Stephen L. Philipson sold 36,906 shares of U.S. Bancorp stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the transaction, the insider directly owned 74,969 shares of the company’s stock, valued at $4,729,044.52. The trade was a 32.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.21% of the stock is currently owned by insiders.

U.S. Bancorp 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.