Saudi Central Bank Purchases 51,282 Shares of U.S. Bancorp $USB

Saudi Central Bank increased its position in U.S. Bancorp (NYSE:USB) by 89.4% in the second quarter, HoldingsChannel reports. The firm owned 108,658 shares of the financial services provider’s stock after purchasing an additional 51,282 shares during the quarter. Saudi Central Bank’s holdings in U.S. Bancorp were worth $6,563,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in USB. Archer Investment Corp purchased a new stake in U.S. Bancorp in the second quarter worth $29,000. Parvin Asset Management LLC purchased a new position in U.S. Bancorp during the second quarter valued at $30,000. Financial Life Planners bought a new stake in shares of U.S. Bancorp during the 1st quarter valued at $27,000. Main Street Group LTD bought a new stake in shares of U.S. Bancorp during the 1st quarter valued at $28,000. Finally, Rossby Financial LCC grew its position in shares of U.S. Bancorp by 57.8% in the 4th quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock worth $31,000 after buying an additional 212 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Stephen L. Philipson sold 36,906 shares of the company’s 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 of the company’s stock, valued at $4,729,044.52. This represents a 32.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Gunjan Kedia sold 27,267 shares of the stock in a transaction 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 sale, the chief executive officer directly owned 426,262 shares in the company, valued at $26,585,960.94. This trade represents a 6.01% 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 insiders.

Wall Street Analysts Forecast Growth

USB has been the subject of a number of recent research reports. Robert W. Baird lifted their price target on shares of U.S. Bancorp from $64.00 to $68.00 and gave the company a “neutral” rating in a research report on Friday, July 17th. Wells Fargo & Company lifted their target price on shares of U.S. Bancorp from $66.00 to $69.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Weiss Ratings reissued a “buy (b)” rating on shares of U.S. Bancorp in a research report on Friday, July 31st. Royal Bank Of Canada restated an “outperform” rating and issued a $68.00 price target on shares of U.S. Bancorp in a research note on Monday, August 24th. Finally, CLSA set a $67.50 price objective on U.S. Bancorp in a research report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.06.

U.S. Bancorp Trading Down 0.3%

NYSE:USB opened at $63.36 on Friday. The stock has a market cap of $98.72 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 1.13 and a beta of 0.95. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. The company’s 50 day moving average price is $63.07 and its 200-day moving average price is $57.87. U.S. Bancorp has a 52 week low of $45.02 and a 52 week high of $66.07.

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 analysts’ consensus estimates of $1.28 by $0.07. The company had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.58 billion. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. During the same period in the previous year, the business earned $1.11 EPS. On average, equities research analysts forecast that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.52 dividend. The ex-dividend date of this dividend 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 (DPR) is presently 41.52%.

U.S. Bancorp 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.