S&G Foundation Purchases New Stake in U.S. Bancorp $USB

S&G Foundation acquired a new stake in shares of U.S. Bancorp (NYSE:USB) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 560,000 shares of the financial services provider’s stock, valued at approximately $33,824,000. U.S. Bancorp comprises about 1.6% of S&G Foundation’s portfolio, making the stock its 9th biggest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Financial Life Planners acquired a new stake in shares of U.S. Bancorp in the 1st quarter valued at about $27,000. Main Street Group LTD acquired a new position in U.S. Bancorp in the first quarter worth about $28,000. Rossby Financial LCC increased its holdings in U.S. Bancorp by 57.8% in the fourth quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock valued at $31,000 after buying an additional 212 shares during the last quarter. NFSG Corp bought a new stake in U.S. Bancorp in the first quarter valued at about $31,000. Finally, JPL Wealth Management LLC acquired a new position in shares of U.S. Bancorp in the 3rd quarter worth approximately $28,000. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock opened at $62.09 on Friday. The stock has a market cap of $96.74 billion, a PE ratio of 12.39, a price-to-earnings-growth ratio of 1.02 and a beta of 0.96. U.S. Bancorp has a 52 week low of $45.02 and a 52 week high of $66.07. The company’s 50-day moving average price is $62.40 and its two-hundred day moving average price is $57.63. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.07. The company 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 quarter in the prior year, the firm earned $1.11 EPS. As a group, sell-side 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 dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio is currently 41.52%.

Insider Activity at U.S. Bancorp

In related news, insider Stephen L. Philipson sold 36,906 shares of the 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 transaction, the insider owned 74,969 shares in the company, 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 SEC, which can be accessed through the SEC website. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

USB has been the topic of several research reports. JPMorgan Chase & Co. upped their price target on U.S. Bancorp from $67.50 to $69.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. BTIG Research set a $67.50 target price on shares of U.S. Bancorp in a report on Monday, July 20th. Barclays raised their price target on shares of U.S. Bancorp from $67.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Jefferies Financial Group upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and lifted their target price for the company from $60.00 to $75.00 in a research note on Monday, July 6th. Finally, Evercore raised shares of U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 price target for the company in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.06.

About U.S. Bancorp

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.