Munich Reinsurance Co Stock Corp in Munich Has $1.31 Million Stock Holdings in U.S. Bancorp $USB

Munich Reinsurance Co Stock Corp in Munich lowered its stake in U.S. Bancorp (NYSE:USB) by 64.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 21,703 shares of the financial services provider’s stock after selling 39,829 shares during the period. Munich Reinsurance Co Stock Corp in Munich’s holdings in U.S. Bancorp were worth $1,311,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of USB. Blalock Williams LLC boosted its holdings in shares of U.S. Bancorp by 3.8% during the second quarter. Blalock Williams LLC now owns 4,680 shares of the financial services provider’s stock worth $283,000 after acquiring an additional 171 shares during the period. Raiffeisen Bank International AG boosted its stake in U.S. Bancorp by 3.4% in the 2nd quarter. Raiffeisen Bank International AG now owns 38,795 shares of the financial services provider’s stock valued at $2,377,000 after purchasing an additional 1,270 shares during the period. Syon Capital LLC boosted its stake in U.S. Bancorp by 16.3% in the 2nd quarter. Syon Capital LLC now owns 18,565 shares of the financial services provider’s stock valued at $1,121,000 after purchasing an additional 2,602 shares during the period. TD Waterhouse Canada Inc. grew its holdings in U.S. Bancorp by 26.8% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 168,249 shares of the financial services provider’s stock valued at $10,429,000 after buying an additional 35,544 shares in the last quarter. Finally, United Community Bank increased its position in U.S. Bancorp by 2.5% during the 2nd quarter. United Community Bank now owns 19,359 shares of the financial services provider’s stock worth $1,169,000 after buying an additional 471 shares during the period. 77.60% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Gunjan Kedia sold 27,267 shares of U.S. Bancorp stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the sale, the chief executive officer directly owned 426,262 shares of the company’s stock, valued at approximately $26,585,960.94. The trade was a 6.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stephen L. Philipson sold 36,906 shares of the company’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 transaction of $2,328,030.48. Following the transaction, the insider owned 74,969 shares of the company’s stock, valued at approximately $4,729,044.52. This represents a 32.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.21% of the company’s stock.

U.S. Bancorp Trading Down 0.3%

Shares of USB opened at $63.36 on Friday. 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 has a 52-week low of $45.02 and a 52-week high of $66.07. The firm has a market cap of $98.72 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 1.13 and a beta of 0.95. The business’s fifty day moving average is $63.07 and its 200-day moving average is $57.87.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.07. The business had revenue of $7.69 billion during the quarter, compared to the consensus estimate of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same period in the prior year, the company earned $1.11 EPS. Equities analysts anticipate that U.S. Bancorp will post 5.22 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

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

Analysts Set New Price Targets

USB has been the topic of several research reports. CLSA set a $67.50 price target on shares of U.S. Bancorp in a research note on Monday, July 20th. Oppenheimer lifted their price target on shares of U.S. Bancorp from $73.00 to $77.00 and gave the company an “outperform” rating in a research report on Friday, July 17th. Robert W. Baird boosted their price target on U.S. Bancorp from $64.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, July 17th. Raymond James Financial began coverage on U.S. Bancorp in a research report on Wednesday, July 8th. They set a “strong-buy” rating and a $72.00 price target on the stock. Finally, 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 report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently 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.