Bridges Investment Management Inc. Raises Position in U.S. Bancorp (NYSE:USB)

Bridges Investment Management Inc. increased its position in shares of U.S. Bancorp (NYSE:USB) by 25.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 90,895 shares of the financial services provider’s stock after purchasing an additional 18,591 shares during the period. Bridges Investment Management Inc.’s holdings in U.S. Bancorp were worth $3,609,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in USB. Valmark Advisers Inc. grew its holdings in U.S. Bancorp by 2.9% in the second quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock valued at $346,000 after purchasing an additional 242 shares during the period. Waldron Private Wealth LLC boosted its holdings in shares of U.S. Bancorp by 1.9% in the 2nd quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock valued at $534,000 after purchasing an additional 247 shares during the last quarter. Naples Global Advisors LLC grew its stake in shares of U.S. Bancorp by 0.4% during the 2nd quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock valued at $2,624,000 after buying an additional 248 shares during the period. Kavar Capital Partners Group LLC increased its holdings in shares of U.S. Bancorp by 4.7% during the 2nd quarter. Kavar Capital Partners Group LLC now owns 5,555 shares of the financial services provider’s stock worth $221,000 after buying an additional 250 shares during the last quarter. Finally, STAR Financial Bank raised its position in shares of U.S. Bancorp by 3.3% in the 2nd quarter. STAR Financial Bank now owns 7,772 shares of the financial services provider’s stock worth $309,000 after buying an additional 250 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on USB shares. StockNews.com upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Morgan Stanley raised their price target on shares of U.S. Bancorp from $47.00 to $54.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. UBS Group lifted their price target on shares of U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Royal Bank of Canada reissued an “outperform” rating and issued a $48.00 price objective on shares of U.S. Bancorp in a research report on Friday, September 13th. Finally, The Goldman Sachs Group reduced their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Hold” and an average target price of $48.18.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $46.46 on Friday. The business has a 50 day moving average price of $44.31 and a two-hundred day moving average price of $42.30. U.S. Bancorp has a fifty-two week low of $30.47 and a fifty-two week high of $47.31. The firm has a market cap of $72.50 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 4.36 and a beta of 1.04. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. The business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.12 earnings per share. Sell-side analysts expect that U.S. Bancorp will post 3.87 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.50 dividend. The ex-dividend date is Monday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.30%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s payout ratio is presently 66.23%.

Insider Activity

In other news, Director Aleem Gillani acquired 10,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The stock was purchased at an average cost of $44.99 per share, with a total value of $449,900.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at $449,900. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.23% of the company’s stock.

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.