12,300 Shares in U.S. Bancorp $USB Purchased by Field & Main Bank

Field & Main Bank acquired a new stake in shares of U.S. Bancorp (NYSE:USB) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 12,300 shares of the financial services provider’s stock, valued at approximately $743,000.

A number of other hedge funds also recently bought and sold shares of the business. Mufg Bank LTD. purchased a new stake in shares of U.S. Bancorp in the second quarter valued at approximately $2,680,199,000. Norges Bank purchased a new position in U.S. Bancorp during the fourth quarter worth approximately $1,887,497,000. Auto Owners Insurance Co lifted its position in U.S. Bancorp by 5,236.0% during the fourth quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock worth $1,779,556,000 after buying an additional 32,725,000 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in U.S. Bancorp during the second quarter worth $536,457,000. Finally, Capital Research Global Investors acquired a new position in U.S. Bancorp during the fourth quarter worth $296,377,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 0.2%

U.S. Bancorp stock opened at $62.50 on Friday. The firm has a market capitalization of $97.38 billion, a P/E ratio of 12.48, a P/E/G ratio of 1.02 and a beta of 0.96. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. U.S. Bancorp has a twelve month low of $45.02 and a twelve month high of $66.07. The stock’s fifty day simple moving average is $62.84 and its 200-day simple moving average is $57.75.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.07. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.The firm had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.58 billion. During the same period last year, the business posted $1.11 earnings per share. As a group, equities analysts expect that U.S. Bancorp will post 5.22 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

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

Insider Activity at U.S. Bancorp

In related news, insider Stephen L. Philipson sold 36,906 shares of the company’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the sale, the insider directly owned 74,969 shares in the company, valued at approximately $4,729,044.52. This represents a 32.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on USB. UBS Group raised their target price on U.S. Bancorp from $58.00 to $66.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 7th. Barclays boosted their price target on shares of U.S. Bancorp from $67.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. Oppenheimer upped their price objective on shares of U.S. Bancorp from $73.00 to $77.00 and gave the company an “outperform” rating in a report on Friday, July 17th. Evercore raised shares of U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 target price on the stock in a research note on Monday, July 20th. Finally, CLSA set a $67.50 target price on shares of U.S. Bancorp in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $67.06.

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.