Livforsakringsbolaget Skandia Omsesidigt Buys Shares of 8,551 U.S. Bancorp $USB

Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in U.S. Bancorp (NYSE:USB) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 8,551 shares of the financial services provider’s stock, valued at approximately $520,000.

Other hedge funds also recently made changes to their positions in the company. State Street Corp lifted its stake in shares of U.S. Bancorp by 0.8% in the 4th quarter. State Street Corp now owns 69,701,898 shares of the financial services provider’s stock worth $3,755,083,000 after acquiring an additional 522,368 shares during the period. Mufg Bank LTD. bought a new stake in U.S. Bancorp during the second quarter worth approximately $2,680,199,000. Geode Capital Management LLC lifted its position in U.S. Bancorp by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider’s stock worth $2,002,518,000 after purchasing an additional 443,646 shares during the period. Norges Bank acquired a new stake in U.S. Bancorp in the fourth quarter worth approximately $1,887,497,000. Finally, Auto Owners Insurance Co boosted its stake in U.S. Bancorp by 5,236.0% during the 4th quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock valued at $1,779,556,000 after purchasing an additional 32,725,000 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Up 0.2%

Shares of NYSE USB opened at $62.50 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. U.S. Bancorp has a 12 month low of $45.02 and a 12 month high of $66.07. The company has a market cap of $97.38 billion, a price-to-earnings ratio of 12.48, a P/E/G ratio of 1.02 and a beta of 0.96. The business has a fifty day simple moving average of $62.84 and a 200-day simple moving average of $57.75.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.07. The firm had revenue of $7.69 billion for the quarter, compared to analysts’ expectations 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 last year, the business posted $1.11 EPS. Sell-side analysts predict that U.S. Bancorp will post 5.22 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a $0.52 dividend. 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 (DPR) is 41.52%.

Insider Activity

In other news, insider Stephen L. Philipson sold 36,906 shares of the business’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the sale, the insider owned 74,969 shares in the company, valued at $4,729,044.52. The trade was a 32.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.21% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

USB has been the topic of a number of research reports. CLSA set a $67.50 price objective on U.S. Bancorp in a research note on Monday, July 20th. Wall Street Zen raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, July 6th. UBS Group lifted their target price on U.S. Bancorp from $58.00 to $66.00 and gave the stock a “neutral” rating in a report on Tuesday, July 7th. Stephens boosted their price target 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. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $68.00 price target on shares of U.S. Bancorp in a report on Monday, August 24th. One equities research 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. According to data from MarketBeat, U.S. Bancorp has an average rating of “Moderate Buy” and an average target price 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.