Andra AP fonden Sells 27,300 Shares of U.S. Bancorp $USB

Andra AP fonden lowered its holdings in U.S. Bancorp (NYSE:USB) by 8.1% in the 1st quarter, HoldingsChannel.com reports. The firm owned 310,400 shares of the financial services provider’s stock after selling 27,300 shares during the quarter. Andra AP fonden’s holdings in U.S. Bancorp were worth $16,144,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Clayton Financial Group LLC purchased a new position in shares of U.S. Bancorp during the fourth quarter valued at approximately $25,000. Financial Life Planners purchased a new stake in U.S. Bancorp in the 1st quarter valued at $27,000. Main Street Group LTD purchased a new stake in U.S. Bancorp in the 1st quarter valued at $28,000. JPL Wealth Management LLC purchased a new stake in shares of U.S. Bancorp in the third quarter valued at about $28,000. Finally, Binnacle Investments Inc lifted its position 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 purchasing an additional 273 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp News Summary

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: Evercore ISI upgraded U.S. Bancorp (USB) from in-line to outperform and set a $72 price target, pointing to meaningful upside from current levels. The Fly article
• Positive Sentiment: JPMorgan raised U.S. Bancorp (USB) from underweight to neutral and increased its price target to $67.50, citing growth in fee revenue. Benzinga article
• Positive Sentiment: Recent commentary highlighted U.S. Bancorp as a strong dividend stock, which may be supporting investor interest in the name. Zacks article
• Neutral Sentiment: Several recent articles compared USB’s year-to-date performance with other financial stocks, suggesting the stock has been performing solidly relative to peers, but these pieces were mostly informational rather than clearly market-moving. MSN article

U.S. Bancorp Stock Up 0.9%

Shares of NYSE USB opened at $63.69 on Wednesday. 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 stock has a market capitalization of $98.78 billion, a PE ratio of 12.71, a P/E/G ratio of 1.04 and a beta of 0.96. U.S. Bancorp has a one year low of $43.46 and a one year high of $64.84. The business’s fifty day moving average price is $58.24 and its 200-day moving average price is $56.22.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data 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 company had revenue of $7.71 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same quarter last year, the firm posted $1.11 EPS. On average, equities research analysts anticipate that U.S. Bancorp will post 5.2 EPS for the current year.

U.S. Bancorp Dividend Announcement

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

Insider Activity

In related news, EVP Venkatachari Dilip sold 34,522 shares of the company’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 sale, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.21% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have commented on USB shares. JPMorgan Chase & Co. upgraded shares of U.S. Bancorp from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $65.00 to $67.50 in a research note on Monday. Keefe, Bruyette & Woods upped their target price on U.S. Bancorp from $63.00 to $66.00 and gave the company a “market perform” rating in a report on Friday, July 17th. Truist Financial increased their price target on U.S. Bancorp from $66.00 to $69.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Wells Fargo & Company boosted their price objective on U.S. Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Finally, Oppenheimer upped their price objective on U.S. Bancorp from $73.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp presently has an average 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.