PensionDanmark Pensionsforsikringsaktieselskab Has $24.61 Million Position in U.S. Bancorp $USB

PensionDanmark Pensionsforsikringsaktieselskab boosted its holdings in U.S. Bancorp (NYSE:USB) by 12.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 407,457 shares of the financial services provider’s stock after acquiring an additional 46,083 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in U.S. Bancorp were worth $24,610,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new stake in U.S. Bancorp during the first quarter valued at approximately $27,000. Main Street Group LTD acquired a new position in shares of U.S. Bancorp in the 1st quarter worth approximately $28,000. Rossby Financial LCC lifted its position in shares of U.S. Bancorp by 57.8% during the 4th quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock worth $31,000 after buying an additional 212 shares during the period. NFSG Corp bought a new position in shares of U.S. Bancorp during the 1st quarter worth approximately $31,000. Finally, JPL Wealth Management LLC bought a new stake in U.S. Bancorp in the third quarter valued at $28,000. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Down 0.6%

NYSE USB opened at $63.81 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a market cap of $98.97 billion, a P/E ratio of 12.74, a P/E/G ratio of 1.05 and a beta of 0.96. The stock’s 50-day moving average is $60.55 and its 200-day moving average is $57.00. U.S. Bancorp has a one year low of $43.96 and a one year high of $65.02.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, beating 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 company had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.58 billion. During the same quarter in the prior year, the company earned $1.11 earnings per share. Sell-side analysts anticipate that U.S. Bancorp will post 5.22 earnings per share 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. Investors of record on Tuesday, June 30th were paid 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 yield of 3.3%. U.S. Bancorp’s dividend payout ratio is presently 41.52%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Evercore raised shares of U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 price objective on the stock in a research note on Monday, July 20th. Oppenheimer raised their price target on shares of U.S. Bancorp from $73.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, July 17th. BTIG Research set a $67.50 price objective on U.S. Bancorp in a report on Monday, July 20th. DA Davidson increased their price objective on U.S. Bancorp from $72.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Finally, JPMorgan Chase & Co. lifted their target price on U.S. Bancorp from $67.50 to $69.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. One research 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.06.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Stephen L. Philipson sold 36,906 shares of the stock in a transaction dated 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 completion of the transaction, the insider owned 74,969 shares in the company, valued at approximately $4,729,044.52. This represents a 32.99% decrease in their position. 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.

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.