U.S. Bancorp $USB Shares Purchased by Prudential PLC

Prudential PLC increased its holdings in U.S. Bancorp (NYSE:USB) by 104.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 126,903 shares of the financial services provider’s stock after buying an additional 64,748 shares during the quarter. Prudential PLC’s holdings in U.S. Bancorp were worth $5,742,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of USB. Curbstone Financial Management Corp increased its stake in shares of U.S. Bancorp by 0.6% in the second quarter. Curbstone Financial Management Corp now owns 39,982 shares of the financial services provider’s stock worth $1,809,000 after acquiring an additional 222 shares during the period. Crestwood Advisors Group LLC grew its position in U.S. Bancorp by 3.5% during the 2nd quarter. Crestwood Advisors Group LLC now owns 7,021 shares of the financial services provider’s stock worth $318,000 after purchasing an additional 237 shares during the period. Mechanics Financial Corp raised its stake in shares of U.S. Bancorp by 5.3% during the 2nd quarter. Mechanics Financial Corp now owns 4,806 shares of the financial services provider’s stock valued at $217,000 after buying an additional 240 shares during the last quarter. Northern Financial Advisors Inc raised its stake in shares of U.S. Bancorp by 5.0% during the 2nd quarter. Northern Financial Advisors Inc now owns 5,033 shares of the financial services provider’s stock valued at $228,000 after buying an additional 241 shares during the last quarter. Finally, Lawson Kroeker Investment Management Inc. NE lifted its holdings in shares of U.S. Bancorp by 0.5% in the 2nd quarter. Lawson Kroeker Investment Management Inc. NE now owns 46,109 shares of the financial services provider’s stock valued at $2,086,000 after buying an additional 249 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Performance

USB opened at $47.73 on Friday. 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 company has a market cap of $74.19 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 1.25 and a beta of 1.10. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The firm’s fifty day simple moving average is $47.56 and its two-hundred day simple moving average is $46.26.

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, beating analysts’ consensus estimates of $1.11 by $0.11. The company had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.17 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The firm’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 EPS. Equities analysts anticipate 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 4.4%. The ex-dividend date was Tuesday, September 30th. U.S. Bancorp’s payout ratio is currently 47.60%.

Analysts Set New Price Targets

Several analysts recently commented on USB shares. Bank of America raised their target price on U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Cowen reaffirmed a “buy” rating on shares of U.S. Bancorp in a research note on Monday, October 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of U.S. Bancorp in a report on Wednesday, October 8th. Wells Fargo & Company boosted their target price on shares of U.S. Bancorp from $50.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, October 17th. Finally, TD Cowen raised their price target on shares of U.S. Bancorp from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $54.45.

Insider Buying and Selling

In related news, EVP James L. Chosy sold 26,909 shares of the stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 completion of the sale, the chairman directly owned 1,360,414 shares of the company’s stock, valued at $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Profile

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.