Manning & Napier Advisors LLC Invests $9.52 Million in U.S. Bancorp $USB

Manning & Napier Advisors LLC acquired a new stake in shares of U.S. Bancorp (NYSE:USB) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 155,315 shares of the financial services provider’s stock, valued at approximately $9,518,000.

Several other large investors also recently added to or reduced their stakes in USB. Financial Life Planners purchased a new position in shares of U.S. Bancorp during the first quarter worth about $27,000. Main Street Group LTD purchased a new stake in U.S. Bancorp in the first quarter valued at approximately $28,000. JPL Wealth Management LLC bought a new stake in U.S. Bancorp during the third quarter valued at approximately $28,000. Binnacle Investments Inc grew its stake in U.S. Bancorp by 77.8% in the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock worth $30,000 after buying an additional 273 shares in the last quarter. Finally, NFSG Corp bought a new position in shares of U.S. Bancorp in the 1st quarter worth $31,000. Institutional investors own 77.60% of the company’s stock.

Insider Activity

In related news, insider Stephen L. Philipson sold 36,906 shares of U.S. Bancorp stock in a transaction on 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 in the company, valued at approximately $4,729,044.52. The trade was a 32.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.21% of the stock is currently owned by insiders.

U.S. Bancorp Trading Up 0.6%

U.S. Bancorp stock opened at $62.42 on Tuesday. U.S. Bancorp has a one year low of $45.02 and a one year high of $66.07. The business’s fifty day moving average is $62.49 and its 200 day moving average is $57.66. The stock has a market capitalization of $97.26 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 1.02 and a beta of 0.96. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82.

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

U.S. Bancorp Dividend Announcement

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

Analysts Set New Price Targets

USB has been the subject of a number of research reports. Wells Fargo & Company upped their price objective on U.S. Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. Stephens boosted their price objective on shares of U.S. Bancorp from $63.00 to $67.00 and gave the company an “equal weight” rating in a research report on Friday, July 17th. Oppenheimer upped their target price on U.S. Bancorp from $73.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Jefferies Financial Group raised U.S. Bancorp from a “hold” rating to a “buy” rating and lifted their price objective for the company from $60.00 to $75.00 in a research report on Monday, July 6th. Finally, DA Davidson increased their price target on shares of U.S. Bancorp from $72.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $67.06.

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.