LSV Asset Management Boosts Stake in U.S. Bancorp $USB

LSV Asset Management raised its position in U.S. Bancorp (NYSE:USB) by 20.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 490,700 shares of the financial services provider’s stock after purchasing an additional 82,700 shares during the quarter. LSV Asset Management’s holdings in U.S. Bancorp were worth $26,184,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in U.S. Bancorp by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock worth $7,810,665,000 after purchasing an additional 1,828,404 shares during the period. State Street Corp raised its position in U.S. Bancorp by 0.9% in the 3rd quarter. State Street Corp now owns 69,179,530 shares of the financial services provider’s stock worth $3,378,808,000 after purchasing an additional 648,943 shares during the period. Davis Selected Advisers raised its position in U.S. Bancorp by 13.4% in the 4th quarter. Davis Selected Advisers now owns 22,041,759 shares of the financial services provider’s stock worth $1,176,148,000 after purchasing an additional 2,610,197 shares during the period. Grantham Mayo Van Otterloo & Co. LLC raised its position in U.S. Bancorp by 7.2% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 17,758,947 shares of the financial services provider’s stock worth $858,290,000 after purchasing an additional 1,189,525 shares during the period. Finally, Northern Trust Corp raised its position in U.S. Bancorp by 1.1% in the 3rd quarter. Northern Trust Corp now owns 16,438,774 shares of the financial services provider’s stock worth $794,486,000 after purchasing an additional 172,645 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on USB shares. Morgan Stanley set a $64.00 price objective on shares of U.S. Bancorp in a research report on Friday, April 17th. Oppenheimer raised their target price on shares of U.S. Bancorp from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Barclays raised their target price on shares of U.S. Bancorp from $65.00 to $67.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Jefferies Financial Group reaffirmed a “hold” rating and set a $60.00 target price on shares of U.S. Bancorp in a research report on Thursday, April 16th. Finally, Weiss Ratings raised shares of U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.20.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 40,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the sale, the insider directly owned 207,251 shares in the company, valued at $11,813,307. This trade represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is owned by company insiders.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $54.85 on Monday. The firm has a market cap of $85.14 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 0.99 and a beta of 1.00. The company’s 50 day moving average is $54.07 and its 200 day moving average is $53.69. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a 52-week low of $42.21 and a 52-week high of $61.19.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.04. The company had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. U.S. Bancorp’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $1.03 earnings per share. On average, sell-side analysts anticipate that U.S. Bancorp will post 5.09 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.8%. The ex-dividend date was Tuesday, March 31st. U.S. Bancorp’s dividend payout ratio (DPR) is 43.61%.

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.