U.S. Bancorp $USB Shares Sold by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. lessened its position in shares of U.S. Bancorp (NYSE:USB) by 0.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,061,286 shares of the financial services provider’s stock after selling 9,317 shares during the quarter. Eurizon Capital SGR S.p.A.’s holdings in U.S. Bancorp were worth $61,313,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Mufg Bank LTD. acquired a new position in U.S. Bancorp during the 2nd quarter valued at about $2,680,199,000. Bank of America Corp DE boosted its stake in shares of U.S. Bancorp by 6.9% in the 1st quarter. Bank of America Corp DE now owns 15,820,033 shares of the financial services provider’s stock valued at $822,800,000 after purchasing an additional 1,022,898 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of U.S. Bancorp by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock valued at $539,232,000 after purchasing an additional 93,025 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of U.S. Bancorp during the 2nd quarter worth approximately $536,457,000. Finally, First Trust Advisors LP grew its position in shares of U.S. Bancorp by 39.9% during the 1st quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider’s stock worth $422,261,000 after buying an additional 2,314,081 shares during the period. Institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling

In other U.S. Bancorp news, CEO Gunjan Kedia sold 27,267 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $62.37, for a total value of $1,700,642.79. Following the completion of the sale, the chief executive officer owned 426,262 shares of the company’s stock, valued at approximately $26,585,960.94. This represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on USB. Royal Bank Of Canada dropped their price target on shares of U.S. Bancorp from $68.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday, October 16th. UBS Group raised their price objective on shares of U.S. Bancorp from $64.00 to $66.00 and gave the company a “neutral” rating in a research note on Monday, November 2nd. Keefe, Bruyette & Woods raised their price objective on shares of U.S. Bancorp from $63.00 to $66.00 and gave the company a “market perform” rating in a research note on Friday, July 17th. TD Cowen started coverage on shares of U.S. Bancorp in a report on Thursday, October 8th. They set a “buy” rating and a $70.00 target price for the company. Finally, BTIG Research set a $67.50 target price on shares of U.S. Bancorp in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.65.

U.S. Bancorp Price Performance

Shares of USB opened at $60.53 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.87. U.S. Bancorp has a 1 year low of $45.02 and a 1 year high of $66.07. The stock has a market cap of $94.32 billion, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 1.16 and a beta of 1.02. The stock’s 50-day moving average price is $59.55 and its two-hundred day moving average price is $58.28.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.02. U.S. Bancorp had a net margin of 18.85% and a return on equity of 13.85%. The business had revenue of $8.04 billion for the quarter, compared to the consensus estimate of $8 billion. During the same period last year, the company posted $1.22 EPS. U.S. Bancorp’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities analysts predict that U.S. Bancorp will post 5.30 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were issued a dividend of $0.54 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.52. This represents a $2.16 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Wednesday, September 30th. U.S. Bancorp’s dividend payout ratio is presently 42.11%.

U.S. Bancorp Company Profile

U.S. Bancorp is the parent company of U.S. Bank, a financial services provider serving consumers, businesses, institutions and government entities across the United States. Its history traces to 1863, when one of its predecessor institutions, First National Bank of Cincinnati, was established. U.S. Bank offers consumer and business banking, lending, payment services, wealth management, investment services and corporate trust services. Its products include checking and savings accounts, credit cards, mortgages, commercial loans and digital banking solutions.