Schroder Investment Management Group decreased its position in U.S. Bancorp (NYSE:USB) by 36.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,144,071 shares of the financial services provider’s stock after selling 654,300 shares during the period. Schroder Investment Management Group owned approximately 0.07% of U.S. Bancorp worth $59,950,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Vicus Capital increased its stake in U.S. Bancorp by 6.1% in the second quarter. Vicus Capital now owns 6,003 shares of the financial services provider’s stock valued at $315,000 after purchasing an additional 346 shares in the last quarter. OMERS ADMINISTRATION Corp increased its stake in U.S. Bancorp by 3.9% in the second quarter. OMERS ADMINISTRATION Corp now owns 4,195,255 shares of the financial services provider’s stock valued at $222,815,000 after purchasing an additional 156,550 shares in the last quarter. Trillium Asset Management LLC bought a new stake in U.S. Bancorp in the second quarter valued at $236,000. Van Hulzen Asset Management LLC increased its stake in U.S. Bancorp by 13.0% in the second quarter. Van Hulzen Asset Management LLC now owns 152,194 shares of the financial services provider’s stock valued at $7,975,000 after purchasing an additional 17,540 shares in the last quarter. Finally, Rational Advisors LLC increased its stake in U.S. Bancorp by 27.9% in the second quarter. Rational Advisors LLC now owns 4,733 shares of the financial services provider’s stock valued at $248,000 after purchasing an additional 1,033 shares in the last quarter. Institutional investors and hedge funds own 75.49% of the company’s stock.
Shares of NYSE:USB traded up $0.32 during midday trading on Wednesday, hitting $55.65. 1,285,448 shares of the company’s stock were exchanged, compared to its average volume of 5,142,047. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.84 and a quick ratio of 0.83. The stock has a 50 day moving average price of $53.34 and a 200-day moving average price of $52.39. The company has a market cap of $87.36 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 1.84 and a beta of 1.10. U.S. Bancorp has a 12 month low of $43.14 and a 12 month high of $57.81.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 3.02%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, September 27th. U.S. Bancorp’s dividend payout ratio is presently 36.10%.
U.S. Bancorp declared that its board has authorized a share buyback plan on Thursday, June 27th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
Several equities research analysts have weighed in on the stock. Bank of America raised shares of U.S. Bancorp from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $49.00 to $55.00 in a research note on Thursday, July 18th. Credit Suisse Group reaffirmed a “hold” rating and issued a $55.00 price target on shares of U.S. Bancorp in a research note on Thursday, September 12th. Piper Jaffray Companies set a $59.00 price target on shares of U.S. Bancorp and gave the company a “buy” rating in a research note on Friday, September 13th. Macquarie downgraded shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $59.00 target price for the company. in a research report on Thursday, August 1st. Finally, Deutsche Bank set a $59.00 target price on shares of U.S. Bancorp and gave the stock a “hold” rating in a research report on Friday, July 26th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $56.93.
In other U.S. Bancorp news, Director David B. Omaley sold 10,133 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $55.76, for a total value of $565,016.08. Following the completion of the sale, the director now directly owns 191,754 shares of the company’s stock, valued at approximately $10,692,203.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Gillern Jeffry H. Von sold 9,428 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $55.25, for a total transaction of $520,897.00. Following the completion of the sale, the insider now directly owns 94,658 shares of the company’s stock, valued at $5,229,854.50. The disclosure for this sale can be found here. Insiders sold a total of 50,547 shares of company stock valued at $2,862,231 over the last ninety days. 0.24% of the stock is currently owned by insiders.
U.S. Bancorp Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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