U.S. Bancorp $USB Holdings Lifted by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in U.S. Bancorp (NYSE:USB) by 3.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,569,422 shares of the financial services provider’s stock after acquiring an additional 585,968 shares during the quarter. U.S. Bancorp comprises about 2.3% of Grantham Mayo Van Otterloo & Co. LLC’s investment portfolio, making the stock its 17th biggest holding. Grantham Mayo Van Otterloo & Co. LLC owned 1.06% of U.S. Bancorp worth $749,766,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in U.S. Bancorp by 1.4% in the second quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider’s stock worth $6,482,935,000 after buying an additional 2,038,996 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of U.S. Bancorp by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 36,632,410 shares of the financial services provider’s stock worth $1,650,305,000 after acquiring an additional 456,890 shares in the last quarter. Amundi grew its holdings in shares of U.S. Bancorp by 2.2% in the 1st quarter. Amundi now owns 19,907,665 shares of the financial services provider’s stock worth $773,268,000 after acquiring an additional 422,050 shares during the last quarter. Davis Selected Advisers lifted its holdings in shares of U.S. Bancorp by 29.8% during the second quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock valued at $874,757,000 after purchasing an additional 4,442,623 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of U.S. Bancorp by 0.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 12,679,104 shares of the financial services provider’s stock valued at $535,312,000 after purchasing an additional 104,185 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $49.00 on Friday. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The stock’s 50-day moving average is $47.51 and its two-hundred day moving average is $46.45. The company has a debt-to-equity ratio of 1.10, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $76.17 billion, a P/E ratio of 11.21, a PEG ratio of 1.25 and a beta of 1.10.

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

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a $0.52 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Tuesday, September 30th. U.S. Bancorp’s dividend payout ratio is currently 47.60%.

Analysts Set New Price Targets

A number of research firms have commented on USB. DA Davidson upped their price objective on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, October 17th. Deutsche Bank Aktiengesellschaft raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 target price on the stock in a research note on Thursday, October 23rd. UBS Group upped their price target on U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Oppenheimer reduced their price objective on U.S. Bancorp from $66.00 to $64.00 and set an “outperform” rating for the company in a research note on Wednesday, November 19th. Finally, TD Cowen upped their target price on U.S. Bancorp from $59.00 to $60.00 and gave the company a “buy” rating in a report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $54.45.

Insider Buying and Selling at U.S. Bancorp

In other news, Chairman Andrew Cecere sold 140,445 shares of the stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the transaction, the chairman owned 1,360,414 shares of the company’s stock, valued at approximately $63,041,584.76. This represents a 9.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP James L. Chosy sold 26,909 shares of the business’s stock in a transaction that occurred 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 approximately $10,607,932.50. This trade represents a 10.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.23% of the company’s stock.

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.