Plato Investment Management Ltd Acquires New Shares in U.S. Bancorp $USB

Plato Investment Management Ltd acquired a new stake in shares of U.S. Bancorp (NYSE:USB) during the second quarter, according to its most recent filing with the SEC. The fund acquired 53,421 shares of the financial services provider’s stock, valued at approximately $3,208,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Financial Life Planners bought a new stake in shares of U.S. Bancorp during the first quarter valued at about $27,000. Main Street Group LTD bought a new position in shares of U.S. Bancorp in the first quarter valued at approximately $28,000. Rossby Financial LCC grew its stake in U.S. Bancorp by 57.8% during the fourth quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 212 shares in the last quarter. NFSG Corp purchased a new position in U.S. Bancorp during the first quarter valued at approximately $31,000. Finally, JPL Wealth Management LLC bought a new stake in U.S. Bancorp during the 3rd quarter worth approximately $28,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on USB. Weiss Ratings restated a “buy (b)” rating on shares of U.S. Bancorp in a research report on Friday, July 31st. Keefe, Bruyette & Woods lifted their price objective on U.S. Bancorp from $63.00 to $66.00 and gave the company a “market perform” rating in a research note on Friday, July 17th. DA Davidson boosted their target price on U.S. Bancorp from $72.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, July 17th. Wells Fargo & Company upped their target price 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 raised their price target on U.S. Bancorp from $58.00 to $66.00 and gave the company a “neutral” rating in a report on Tuesday, July 7th. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $67.06.

Insiders Place Their Bets

In related news, insider Stephen L. Philipson sold 36,906 shares of the business’s stock in a transaction that occurred on 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 sale, the insider owned 74,969 shares in the company, valued at $4,729,044.52. The trade was a 32.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.21% of the stock is owned by insiders.

U.S. Bancorp Stock Down 0.1%

USB opened at $65.39 on Monday. The stock has a market cap of $101.87 billion, a PE ratio of 13.05, a P/E/G ratio of 1.07 and a beta of 0.96. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. U.S. Bancorp has a 52 week low of $45.02 and a 52 week high of $65.61. The business’s fifty day simple moving average is $61.76 and its 200 day simple moving average is $57.39.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.The firm had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the previous year, the company posted $1.11 earnings per share. As a group, research analysts expect that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 41.52%.

About U.S. Bancorp

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.