Sei Investments Co. Boosts Stock Holdings in U.S. Bancorp (NYSE:USB)

Sei Investments Co. raised its position in shares of U.S. Bancorp (NYSE:USB) by 5.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,852,257 shares of the financial services provider’s stock after acquiring an additional 90,691 shares during the quarter. Sei Investments Co. owned approximately 0.12% of U.S. Bancorp worth $73,535,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Valmark Advisers Inc. raised its stake in U.S. Bancorp by 2.9% in the 2nd 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 last quarter. Waldron Private Wealth LLC raised its position in shares of U.S. Bancorp by 1.9% in the second quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock valued at $534,000 after buying an additional 247 shares during the last quarter. Naples Global Advisors LLC lifted its stake in shares of U.S. Bancorp by 0.4% in the second quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock worth $2,624,000 after buying an additional 248 shares in the last quarter. Kavar Capital Partners Group LLC boosted its position in U.S. Bancorp by 4.7% during the second quarter. Kavar Capital Partners Group LLC now owns 5,555 shares of the financial services provider’s stock worth $221,000 after acquiring an additional 250 shares during the last quarter. Finally, STAR Financial Bank grew its stake in U.S. Bancorp by 3.3% during the 2nd quarter. STAR Financial Bank now owns 7,772 shares of the financial services provider’s stock valued at $309,000 after acquiring an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 1.0 %

NYSE:USB opened at $46.01 on Friday. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $47.31. The stock’s fifty day moving average is $44.39 and its two-hundred day moving average is $42.31. The stock has a market capitalization of $71.80 billion, a price-to-earnings ratio of 15.24, 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 posted its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.04. The firm had revenue of $6.87 billion for 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 prior year, the company earned $1.12 EPS. Research analysts anticipate that U.S. Bancorp will post 3.87 EPS for the current year.

U.S. Bancorp declared that its Board of Directors has initiated a share repurchase program on Thursday, September 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.50 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 4.35%. The ex-dividend date of this dividend is Monday, September 30th. U.S. Bancorp’s dividend payout ratio is presently 66.23%.

Insiders Place Their Bets

In related news, Director Aleem Gillani acquired 10,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 10,000 shares of the company’s stock, valued at $449,900. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on USB shares. DA Davidson raised their target price on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Wells Fargo & Company lifted their price objective on U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. Royal Bank of Canada reissued an “outperform” rating and set a $48.00 price objective on shares of U.S. Bancorp in a research note on Friday, September 13th. UBS Group raised their target price on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Finally, StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $48.18.

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.