OMERS ADMINISTRATION Corp Purchases 34,131 Shares of U.S. Bancorp $USB

OMERS ADMINISTRATION Corp raised its position in shares of U.S. Bancorp (NYSE:USB) by 35.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 129,263 shares of the financial services provider’s stock after buying an additional 34,131 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in U.S. Bancorp were worth $6,723,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Clayton Financial Group LLC bought a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $25,000. Financial Life Planners acquired a new position in shares of U.S. Bancorp during the first quarter worth $27,000. Main Street Group LTD purchased a new stake in shares of U.S. Bancorp during the 1st quarter valued at $28,000. JPL Wealth Management LLC acquired a new stake in shares of U.S. Bancorp in the 3rd quarter worth $28,000. Finally, Binnacle Investments Inc boosted its position in shares of U.S. Bancorp by 77.8% in the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 273 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on USB shares. Weiss Ratings raised U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Raymond James Financial assumed coverage on U.S. Bancorp in a report on Wednesday, July 8th. They issued a “strong-buy” rating and a $72.00 price target for the company. CLSA set a $67.50 price target on U.S. Bancorp in a research note on Monday, July 20th. Wall Street Zen upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Monday, July 6th. Finally, Morgan Stanley increased their price objective on shares of U.S. Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. 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 company’s stock. According to MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Insider Buying and Selling

In related news, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total value of $1,916,661.44. Following the sale, the executive vice president owned 51,292 shares in the company, valued at $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.21% of the stock is currently owned by corporate insiders.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $63.91 on Monday. The business has a fifty day moving average of $58.89 and a 200 day moving average of $56.43. U.S. Bancorp has a 1 year low of $43.46 and a 1 year high of $64.84. 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 capitalization of $99.14 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 1.05 and a beta of 0.96.

U.S. Bancorp (NYSE:USB) last posted 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. The business had revenue of $7.71 billion for 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 previous year, the business earned $1.11 EPS. As a group, research analysts expect that U.S. Bancorp will post 5.22 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued 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 payout ratio is 41.52%.

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.