U.S. Bancorp $USB Shares Acquired by Trust Point Inc.

Trust Point Inc. increased its holdings in shares of U.S. Bancorp (NYSE:USB) by 105.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,475 shares of the financial services provider’s stock after acquiring an additional 12,052 shares during the quarter. Trust Point Inc.’s holdings in U.S. Bancorp were worth $1,418,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of U.S. Bancorp by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock worth $7,810,665,000 after acquiring an additional 1,828,404 shares during the period. State Street Corp raised its position in U.S. Bancorp by 0.8% in the fourth quarter. State Street Corp now owns 69,701,898 shares of the financial services provider’s stock valued at $3,755,083,000 after purchasing an additional 522,368 shares during the period. Geode Capital Management LLC lifted its stake in shares of U.S. Bancorp by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider’s stock valued at $2,002,518,000 after purchasing an additional 443,646 shares during the last quarter. Norges Bank purchased a new position in shares of U.S. Bancorp during the 4th quarter worth $1,887,497,000. Finally, Auto Owners Insurance Co increased its position in shares of U.S. Bancorp by 5,236.0% during the 4th quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock worth $1,779,556,000 after purchasing an additional 32,725,000 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Trading Up 0.1%

Shares of USB stock opened at $63.90 on Friday. U.S. Bancorp has a fifty-two week low of $44.15 and a fifty-two week high of $65.02. The company has a 50 day moving average price of $60.73 and a 200 day moving average price of $57.04. The stock has a market capitalization of $99.11 billion, a P/E ratio of 12.75, a price-to-earnings-growth ratio of 1.05 and a beta of 0.96. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.82 and a current ratio of 0.83.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, beating the consensus estimate of $1.28 by $0.07. The company had revenue of $7.69 billion during the quarter, compared to analysts’ expectations 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 quarter last year, the company posted $1.11 EPS. Equities research analysts predict that U.S. Bancorp will post 5.22 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.52 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.08 annualized dividend and a yield of 3.3%. U.S. Bancorp’s dividend payout ratio is 41.52%.

Insider Transactions at U.S. Bancorp

In other news, insider Stephen L. Philipson sold 36,906 shares of U.S. Bancorp stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $63.08, for a total value of $2,328,030.48. Following the completion of the transaction, the insider owned 74,969 shares in the company, valued at approximately $4,729,044.52. This trade represents a 32.99% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on USB. Royal Bank Of Canada increased their target price on shares of U.S. Bancorp from $61.00 to $68.00 and gave the stock an “outperform” rating in a research note on Friday, July 17th. DA Davidson lifted their target price on shares of U.S. Bancorp from $72.00 to $74.00 and gave the company a “buy” rating in a report on Friday, July 17th. Jefferies Financial Group raised U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their target price for the company from $60.00 to $75.00 in a research report on Monday, July 6th. Wells Fargo & Company upped their price target on U.S. Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. Finally, UBS Group lifted their price objective on U.S. Bancorp from $58.00 to $66.00 and gave the company a “neutral” rating in a research note on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.06.

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.