Manning & Napier Advisors LLC Invests $9.52 Million in U.S. Bancorp $USB

Manning & Napier Advisors LLC acquired a new stake in shares of U.S. Bancorp (NYSE:USB) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 155,315 shares of the financial services provider’s stock, valued at approximately $9,518,000.

Several other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in U.S. Bancorp by 323.0% during the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock valued at $2,309,000 after purchasing an additional 36,863 shares during the period. Empowered Funds LLC boosted its stake in U.S. Bancorp by 2.1% in the 1st quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock worth $1,453,000 after purchasing an additional 714 shares during the period. Intech Investment Management LLC grew its holdings in U.S. Bancorp by 18.9% during the 1st quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock valued at $1,658,000 after buying an additional 6,252 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of U.S. Bancorp during the second quarter valued at approximately $425,000. Finally, Nebula Research & Development LLC bought a new stake in shares of U.S. Bancorp during the second quarter valued at approximately $701,000. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $62.42 on Tuesday. The company has a market capitalization of $97.26 billion, a PE ratio of 12.46, a P/E/G ratio of 1.02 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. The company has a 50-day simple moving average of $62.49 and a two-hundred day simple moving average of $57.66. U.S. Bancorp has a one year low of $45.02 and a one year high of $66.07.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. 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 business posted $1.11 EPS. Research analysts expect that U.S. Bancorp will post 5.22 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.52 per share. 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 presently 41.52%.

Analyst Ratings Changes

Several research analysts have commented on the stock. BTIG Research set a $67.50 price objective on shares of U.S. Bancorp in a report on Monday, July 20th. Stephens increased their price objective on shares of U.S. Bancorp from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Oppenheimer lifted their target price on U.S. Bancorp from $73.00 to $77.00 and gave the stock an “outperform” rating in a research report on Friday, July 17th. Barclays lifted their price target on shares of U.S. Bancorp from $67.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $68.00 price objective on shares of U.S. Bancorp in a research note on Monday. One investment 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.06.

Insider Activity at U.S. Bancorp

In other news, insider Stephen L. Philipson sold 36,906 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $4,729,044.52. This trade represents a 32.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.21% of the company’s stock.

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.