RW Investment Management LLC Increases Stock Holdings in U.S. Bancorp (NYSE:USB)

RW Investment Management LLC boosted its stake in U.S. Bancorp (NYSE:USB) by 60.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 48,455 shares of the financial services provider’s stock after buying an additional 18,237 shares during the quarter. U.S. Bancorp makes up 0.3% of RW Investment Management LLC’s investment portfolio, making the stock its 21st largest holding. RW Investment Management LLC’s holdings in U.S. Bancorp were worth $1,924,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of U.S. Bancorp by 0.4% during the first quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider’s stock valued at $6,051,096,000 after purchasing an additional 502,776 shares in the last quarter. Davis Selected Advisers lifted its position in shares of U.S. Bancorp by 0.3% during the 2nd quarter. Davis Selected Advisers now owns 14,228,444 shares of the financial services provider’s stock worth $564,869,000 after buying an additional 43,437 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of U.S. Bancorp by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,312,930 shares of the financial services provider’s stock worth $528,523,000 after buying an additional 94,841 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of U.S. Bancorp by 2.9% in the second quarter. Van ECK Associates Corp now owns 9,478,454 shares of the financial services provider’s stock valued at $376,295,000 after acquiring an additional 271,078 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its position in shares of U.S. Bancorp by 0.3% during the first quarter. First Eagle Investment Management LLC now owns 8,921,691 shares of the financial services provider’s stock valued at $398,800,000 after acquiring an additional 23,826 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on USB shares. StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Citigroup increased their price objective on U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. DA Davidson boosted their target price on U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Wells Fargo & Company increased their price target on U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. Finally, Morgan Stanley boosted their price objective on U.S. Bancorp from $47.00 to $54.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $48.18.

Insider Transactions at U.S. Bancorp

In other news, Director Aleem Gillani bought 10,000 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, July 18th. The shares were acquired at an average price of $44.99 per share, with a total value of $449,900.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $449,900. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $46.01 on Friday. The stock has a market cap of $71.80 billion, a price-to-earnings ratio of 15.24, a PEG 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. The business has a 50-day simple moving average of $44.39 and a 200 day simple moving average of $42.31. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $47.31.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.94 by $0.04. The company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. U.S. Bancorp’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.12 earnings per share. On average, research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.35%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio (DPR) is 66.23%.

U.S. Bancorp declared that its board has approved a stock repurchase program on Thursday, September 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

U.S. Bancorp Company 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.