64,211 U.S. Bancorp $USB Shares Bought by Fisher Asset Management LLC

Fisher Asset Management LLC grew its position in shares of U.S. Bancorp (NYSE:USB) by 1.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,774,499 shares of the financial services provider’s stock after purchasing an additional 64,211 shares during the period. Fisher Asset Management LLC owned approximately 0.31% of U.S. Bancorp worth $275,775,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mufg Bank LTD. acquired a new stake in U.S. Bancorp during the 2nd quarter valued at $2,680,199,000. Bank of New York Mellon Corp acquired a new position in U.S. Bancorp in the 2nd quarter worth $536,457,000. First Trust Advisors LP lifted its holdings in U.S. Bancorp by 39.9% in the 1st quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider’s stock worth $422,261,000 after buying an additional 2,314,081 shares in the last quarter. KBC Group NV boosted its position in U.S. Bancorp by 259.0% in the 1st quarter. KBC Group NV now owns 1,888,428 shares of the financial services provider’s stock valued at $98,217,000 after buying an additional 1,362,416 shares during the last quarter. Finally, Amundi boosted its position in U.S. Bancorp by 25.2% in the 1st quarter. Amundi now owns 6,470,642 shares of the financial services provider’s stock valued at $336,538,000 after buying an additional 1,301,547 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at U.S. Bancorp

In related news, CEO Gunjan Kedia sold 27,267 shares of U.S. Bancorp stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $62.37, for a total value of $1,700,642.79. Following the completion of the transaction, the chief executive officer directly owned 426,262 shares in the company, valued at approximately $26,585,960.94. This trade represents a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on USB. Raymond James Financial lowered their target price on U.S. Bancorp from $74.00 to $72.00 and set a “strong-buy” rating for the company in a research note on Tuesday, October 6th. Wolfe Research initiated coverage on U.S. Bancorp in a research note on Tuesday, October 27th. They issued a “peer perform” rating on the stock. CLSA set a $67.50 price target on U.S. Bancorp in a report on Monday, July 20th. Citigroup lowered their price objective on U.S. Bancorp from $72.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, October 16th. Finally, Barclays lifted their price objective on U.S. Bancorp from $67.00 to $75.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $68.65.

U.S. Bancorp Trading Down 0.3%

NYSE USB opened at $60.53 on Friday. U.S. Bancorp has a 12 month low of $45.02 and a 12 month high of $66.07. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.83 and a quick ratio of 0.83. The company has a market capitalization of $94.32 billion, a price-to-earnings ratio of 11.80, a price-to-earnings-growth ratio of 1.16 and a beta of 1.02. The company’s fifty day moving average price is $59.55 and its two-hundred day moving average price is $58.28.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, October 15th. The financial services provider reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.02. The company had revenue of $8.04 billion during the quarter, compared to the consensus estimate of $8 billion. U.S. Bancorp had a net margin of 18.85% and a return on equity of 13.85%. The company’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.22 EPS. As a group, research analysts predict that U.S. Bancorp will post 5.30 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.54 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.52. This represents a $2.16 annualized dividend and a dividend yield of 3.6%. U.S. Bancorp’s dividend payout ratio is 42.11%.

About U.S. Bancorp

U.S. Bancorp is the parent company of U.S. Bank, a financial services provider serving consumers, businesses, institutions and government entities across the United States. Its history traces to 1863, when one of its predecessor institutions, First National Bank of Cincinnati, was established. U.S. Bank offers consumer and business banking, lending, payment services, wealth management, investment services and corporate trust services. Its products include checking and savings accounts, credit cards, mortgages, commercial loans and digital banking solutions.