LSV Asset Management Buys 324,800 Shares of U.S. Bancorp $USB

LSV Asset Management boosted its stake in U.S. Bancorp (NYSE:USB) by 349.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 417,800 shares of the financial services provider’s stock after buying an additional 324,800 shares during the period. LSV Asset Management’s holdings in U.S. Bancorp were worth $18,905,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. IMG Wealth Management Inc. bought a new position in shares of U.S. Bancorp during the second quarter worth approximately $25,000. Saudi Central Bank bought a new position in U.S. Bancorp during the 1st quarter worth $26,000. Activest Wealth Management lifted its holdings in shares of U.S. Bancorp by 846.5% during the second quarter. Activest Wealth Management now owns 814 shares of the financial services provider’s stock worth $37,000 after buying an additional 728 shares in the last quarter. Groupe la Francaise bought a new stake in shares of U.S. Bancorp in the first quarter valued at about $41,000. Finally, Meeder Asset Management Inc. grew its stake in shares of U.S. Bancorp by 118.4% in the first quarter. Meeder Asset Management Inc. now owns 987 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 535 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Trading Up 1.9%

Shares of USB stock opened at $46.80 on Thursday. U.S. Bancorp has a fifty-two week low of $35.18 and a fifty-two week high of $53.98. The stock’s fifty day moving average price is $47.65 and its two-hundred day moving average price is $46.21. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $72.74 billion, a PE ratio of 10.71, a P/E/G ratio of 1.25 and a beta of 1.10.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.11. The business had revenue of $7.34 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.03 EPS. Equities analysts predict that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

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

Insiders Place Their Bets

In other U.S. Bancorp news, Chairman Andrew Cecere sold 140,445 shares of the company’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.34, for a total value of $6,508,221.30. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 directly owned 226,375 shares of the company’s stock, valued at $10,607,932.50. This represents a 10.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Oppenheimer dropped their price objective on shares of U.S. Bancorp from $66.00 to $64.00 and set an “outperform” rating for the company in a research note on Wednesday. Bank of America lifted their price target on shares of U.S. Bancorp from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, October 17th. UBS Group increased their price target on U.S. Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. DA Davidson lifted their price objective on U.S. Bancorp from $57.00 to $59.00 and gave the company a “buy” rating in a report on Friday, October 17th. Finally, Wells Fargo & Company upped their target price on U.S. Bancorp from $50.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $54.45.

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.