Elo Mutual Pension Insurance Co Sells 9,127 Shares of U.S. Bancorp (NYSE:USB)

Elo Mutual Pension Insurance Co reduced its holdings in shares of U.S. Bancorp (NYSE:USB) by 6.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 133,230 shares of the financial services provider’s stock after selling 9,127 shares during the period. Elo Mutual Pension Insurance Co’s holdings in U.S. Bancorp were worth $5,289,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Redwood Wealth Management Group LLC purchased a new stake in shares of U.S. Bancorp in the 2nd quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. bought a new stake in U.S. Bancorp in the first quarter worth $30,000. 1620 Investment Advisors Inc. purchased a new stake in U.S. Bancorp during the second quarter valued at about $30,000. Eagle Bay Advisors LLC grew its stake in shares of U.S. Bancorp by 93.2% during the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after buying an additional 331 shares during the last quarter. Finally, LRI Investments LLC bought a new position in shares of U.S. Bancorp during the first quarter valued at about $31,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Trading Up 1.1 %

USB opened at $45.19 on Thursday. 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 has a 52 week low of $30.47 and a 52 week high of $47.31. The stock has a market cap of $70.52 billion, a PE ratio of 14.96, a PEG ratio of 4.36 and a beta of 1.04. The business has a 50 day moving average of $44.22 and a 200-day moving average of $42.27.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. The firm had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The company’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.12 EPS. Equities research analysts predict that U.S. Bancorp will post 3.87 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders 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. The ex-dividend date is Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.43%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 66.23%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Citigroup increased their target price on U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $48.00 target price on shares of U.S. Bancorp in a research note on Friday, September 13th. Jefferies Financial Group lowered their price target on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Finally, Evercore ISI raised their price target on shares of U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, U.S. Bancorp currently has a consensus rating of “Hold” and an average target price of $48.18.

Insider Activity

In related news, Director Aleem Gillani acquired 10,000 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, July 18th. The stock was bought at an average price of $44.99 per share, with a total value of $449,900.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $449,900. The acquisition was disclosed in a document filed 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.