First Trust Advisors LP Boosts Stake in U.S. Bancorp $USB

First Trust Advisors LP grew its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 10.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,408,002 shares of the financial services provider's stock after buying an additional 416,618 shares during the quarter. First Trust Advisors LP owned 0.28% of U.S. Bancorp worth $199,462,000 as of its most recent filing with the Securities & Exchange Commission.

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Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in U.S. Bancorp by 1.4% during the second quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider's stock worth $6,482,935,000 after acquiring an additional 2,038,996 shares during the period. Geode Capital Management LLC increased its position in shares of U.S. Bancorp by 1.3% during the 2nd quarter. Geode Capital Management LLC now owns 36,632,410 shares of the financial services provider's stock valued at $1,650,305,000 after purchasing an additional 456,890 shares during the last quarter. Norges Bank purchased a new stake in shares of U.S. Bancorp during the 2nd quarter valued at $971,285,000. Amundi raised its stake in shares of U.S. Bancorp by 2.2% during the 1st quarter. Amundi now owns 19,907,665 shares of the financial services provider's stock worth $773,268,000 after purchasing an additional 422,050 shares during the period. Finally, Davis Selected Advisers boosted its holdings in shares of U.S. Bancorp by 29.8% in the 2nd quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider's stock worth $874,757,000 after buying an additional 4,442,623 shares during the last quarter. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Up 0.8%

USB opened at $51.36 on Friday. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $52.59. The company has a market cap of $79.83 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 0.96 and a beta of 1.10. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10. The company has a 50 day moving average of $47.57 and a 200 day moving average of $46.65.

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U.S. Bancorp (NYSE:USB - Get Free Report) last issued its earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.11 by $0.11. The business had revenue of $7.34 billion for the quarter, compared to analysts' expectations of $7.17 billion. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The business's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.03 EPS. On average, sell-side analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a dividend of $0.52 per share. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.08 dividend on an annualized basis and a yield of 4.1%. U.S. Bancorp's payout ratio is currently 47.60%.

Wall Street Analysts Forecast Growth

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A number of analysts recently issued reports on USB shares. UBS Group raised their price objective on shares of U.S. Bancorp from $49.00 to $50.00 and gave the stock a "neutral" rating in a report on Tuesday, October 7th. Evercore ISI increased their target price on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company an "in-line" rating in a research report on Tuesday, September 30th. Cowen restated a "buy" rating on shares of U.S. Bancorp in a research note on Monday, October 20th. Morgan Stanley reiterated a "positive" rating on shares of U.S. Bancorp in a research note on Friday, October 17th. Finally, TD Cowen increased their price objective on U.S. Bancorp from $59.00 to $60.00 and gave the company a "buy" rating in a report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $54.45.

Get Our Latest Report on U.S. Bancorp

Insider Activity

In other U.S. Bancorp news, Chairman Andrew Cecere sold 140,445 shares of the firm's stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $46.34, for a total value of $6,508,221.30. Following the completion of the transaction, the chairman owned 1,360,414 shares in the company, valued at $63,041,584.76. This trade represents a 9.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP James L. Chosy sold 26,909 shares of the company's stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $46.86, for a total value of $1,260,955.74. Following the sale, the executive vice president owned 226,375 shares in the company, valued at approximately $10,607,932.50. This represents a 10.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.

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