U.S. Bancorp $USB Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC grew its holdings in U.S. Bancorp (NYSE:USB) by 198.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 160,627 shares of the financial services provider’s stock after purchasing an additional 106,742 shares during the quarter. SG Americas Securities LLC’s holdings in U.S. Bancorp were worth $7,268,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. IMG Wealth Management Inc. acquired a new position in shares of U.S. Bancorp in the second quarter worth $25,000. Saudi Central Bank purchased a new position in U.S. Bancorp in the first quarter valued at $26,000. Activest Wealth Management grew its stake in U.S. Bancorp by 846.5% during the 2nd quarter. Activest Wealth Management now owns 814 shares of the financial services provider’s stock worth $37,000 after purchasing an additional 728 shares in the last quarter. Groupe la Francaise purchased a new stake in U.S. Bancorp during the 1st quarter worth about $41,000. Finally, Meeder Asset Management Inc. increased its holdings in U.S. Bancorp by 118.4% during the 1st quarter. Meeder Asset Management Inc. now owns 987 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 535 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Chairman Andrew Cecere sold 140,445 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the transaction, the chairman directly owned 1,360,414 shares in the company, valued at approximately $63,041,584.76. This trade represents a 9.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp stock in a transaction 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 directly owned 226,375 shares in the company, valued at $10,607,932.50. The trade was 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.

U.S. Bancorp Trading Down 0.5%

Shares of U.S. Bancorp stock opened at $47.09 on Monday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10. The company has a fifty day simple moving average of $47.83 and a 200-day simple moving average of $46.14. The stock has a market cap of $73.19 billion, a price-to-earnings ratio of 10.78, a PEG ratio of 1.25 and a beta of 1.10. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results 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. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The firm had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same period in the previous year, the company earned $1.03 earnings per share. U.S. Bancorp’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, equities analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on USB. TD Cowen boosted their price objective on U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, October 20th. Oppenheimer lowered their price target on shares of U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating for the company in a report on Tuesday, September 23rd. UBS Group raised their price objective on shares of U.S. Bancorp from $49.00 to $50.00 and gave the company a “neutral” rating in a report on Tuesday, October 7th. Citigroup lifted their price objective on shares of U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, October 17th. Finally, Wells Fargo & Company increased their target price on U.S. Bancorp from $50.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, October 17th. One equities 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $54.55.

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.