U.S. Bancorp $USB Shares Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI boosted its holdings in U.S. Bancorp (NYSE:USB) by 24.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 77,296 shares of the financial services provider’s stock after acquiring an additional 15,117 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in U.S. Bancorp were worth $3,498,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in USB. Ontario Teachers Pension Plan Board grew its stake in shares of U.S. Bancorp by 19.5% in the second quarter. Ontario Teachers Pension Plan Board now owns 14,806 shares of the financial services provider’s stock worth $670,000 after purchasing an additional 2,413 shares in the last quarter. Avantax Advisory Services Inc. lifted its holdings in U.S. Bancorp by 3.7% in the second quarter. Avantax Advisory Services Inc. now owns 153,221 shares of the financial services provider’s stock worth $6,933,000 after purchasing an additional 5,471 shares during the period. Intech Investment Management LLC grew its position in U.S. Bancorp by 43.5% in the 2nd quarter. Intech Investment Management LLC now owns 56,370 shares of the financial services provider’s stock valued at $2,551,000 after buying an additional 17,094 shares in the last quarter. Cetera Investment Advisers increased its stake in U.S. Bancorp by 4.9% during the 2nd quarter. Cetera Investment Advisers now owns 677,149 shares of the financial services provider’s stock valued at $30,641,000 after buying an additional 31,662 shares during the period. Finally, Fusion Capital LLC increased its stake in U.S. Bancorp by 3.5% during the 2nd quarter. Fusion Capital LLC now owns 14,327 shares of the financial services provider’s stock valued at $648,000 after buying an additional 487 shares during the period. Institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling

In other news, EVP James L. Chosy sold 26,909 shares of the firm’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.86, for a total value of $1,260,955.74. Following the completion of the sale, the executive vice president owned 226,375 shares of the company’s stock, valued at $10,607,932.50. This trade represents a 10.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.34, for a total value of $6,508,221.30. Following the transaction, the chairman owned 1,360,414 shares in the company, valued at $63,041,584.76. This represents a 9.36% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

USB has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a research note on Wednesday, October 8th. Bank of America lifted their price target on U.S. Bancorp from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, October 17th. Wells Fargo & Company boosted their price objective on U.S. Bancorp from $50.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, October 17th. Citigroup raised their target price on U.S. Bancorp from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Finally, Deutsche Bank Aktiengesellschaft raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 target price on the stock in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.55.

U.S. Bancorp Stock Down 0.5%

Shares of U.S. Bancorp stock opened at $47.09 on Monday. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98. The firm has a market capitalization of $73.19 billion, a PE ratio of 10.78, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. The stock’s fifty day moving average is $47.83 and its 200-day moving average is $46.14.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. The firm had revenue of $7.34 billion for the quarter, compared to analysts’ expectations of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.U.S. Bancorp’s revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted $1.03 EPS. Equities analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a $0.52 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date was Tuesday, September 30th. This represents a $2.08 annualized dividend and a dividend yield of 4.4%. U.S. Bancorp’s payout ratio is currently 47.60%.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.