Sei Investments Co. Raises Stock Holdings in U.S. Bancorp $USB

Sei Investments Co. grew its position in U.S. Bancorp (NYSE:USB) by 20.1% in the 1st quarter, Holdings Channel.com reports. The fund owned 2,005,491 shares of the financial services provider’s stock after acquiring an additional 335,117 shares during the quarter. Sei Investments Co.’s holdings in U.S. Bancorp were worth $104,305,000 as of its most recent filing with the Securities and Exchange Commission.

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

U.S. Bancorp Stock Down 1.8%

USB stock opened at $63.28 on Friday. The company has a market cap of $98.16 billion, a P/E ratio of 12.63, a P/E/G ratio of 1.06 and a beta of 0.96. U.S. Bancorp has a 52 week low of $43.46 and a 52 week high of $64.84. The company’s 50-day moving average price is $58.68 and its 200 day moving average price is $56.37. 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 (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 the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The company had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same period in the prior year, the business posted $1.11 earnings per share. On average, research analysts expect that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on USB. Royal Bank Of Canada increased their price objective on U.S. Bancorp from $61.00 to $68.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. BTIG Research set a $67.50 target price on U.S. Bancorp in a report on Monday. UBS Group upped their price target on U.S. Bancorp from $58.00 to $66.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 7th. DA Davidson upped their price target on U.S. Bancorp from $72.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, July 17th. Finally, Wells Fargo & Company increased their price target on U.S. Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a report 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 company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Insider Buying and Selling at U.S. Bancorp

In related news, EVP Venkatachari Dilip sold 34,522 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

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.