Oslo Pensjonsforsikring AS Acquires Shares of 9,715 U.S. Bancorp $USB

Oslo Pensjonsforsikring AS bought a new position in shares of U.S. Bancorp (NYSE:USB) during the first quarter, HoldingsChannel reports. The firm bought 9,715 shares of the financial services provider’s stock, valued at approximately $505,000.

Several other hedge funds also recently made changes to their positions in USB. Clayton Financial Group LLC bought a new position in U.S. Bancorp during the fourth quarter worth $25,000. Financial Life Planners acquired a new position in U.S. Bancorp in the first quarter worth $27,000. Main Street Group LTD bought a new stake in U.S. Bancorp during the first quarter valued at $28,000. Rossby Financial LCC increased its stake in U.S. Bancorp by 57.8% during the fourth quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 212 shares during the last quarter. Finally, NFSG Corp acquired a new stake in shares of U.S. Bancorp during the first quarter worth $31,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on USB shares. UBS Group raised their price target on shares of U.S. Bancorp from $58.00 to $66.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 7th. DA Davidson raised their target price on shares of U.S. Bancorp from $72.00 to $74.00 and gave the stock a “buy” rating in a report on Friday. Wall Street Zen upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, July 6th. Stephens upped their target price on U.S. Bancorp from $63.00 to $67.00 and gave the company an “equal weight” rating in a report on Friday. Finally, BTIG Research set a $67.50 price target on U.S. Bancorp in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $67.00.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $63.69 on Wednesday. U.S. Bancorp has a 12-month low of $43.46 and a 12-month high of $64.84. The firm has a market capitalization of $98.78 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 1.04 and a beta of 0.96. The business has a 50 day simple moving average of $58.24 and a 200 day simple moving average of $56.22. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.83 and a quick ratio of 0.82.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, beating the consensus estimate of $1.28 by $0.07. The firm had revenue of $7.71 billion for the quarter, compared to analysts’ expectations of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same period last year, the firm earned $1.11 EPS. On average, equities research analysts anticipate that U.S. Bancorp will post 5.2 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio (DPR) is 41.52%.

Key Stories Impacting U.S. Bancorp

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: Evercore ISI upgraded U.S. Bancorp (USB) from in-line to outperform and set a $72 price target, pointing to meaningful upside from current levels. The Fly article
• Positive Sentiment: JPMorgan raised U.S. Bancorp (USB) from underweight to neutral and increased its price target to $67.50, citing growth in fee revenue. Benzinga article
• Positive Sentiment: Recent commentary highlighted U.S. Bancorp as a strong dividend stock, which may be supporting investor interest in the name. Zacks article
• Neutral Sentiment: Several recent articles compared USB’s year-to-date performance with other financial stocks, suggesting the stock has been performing solidly relative to peers, but these pieces were mostly informational rather than clearly market-moving. MSN article

Insider Buying and Selling at U.S. Bancorp

In related news, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the sale, the executive vice president directly owned 51,292 shares in the company, valued at $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.21% of the stock is currently owned by corporate insiders.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.