NEOS Investment Management LLC Acquires 29,868 Shares of U.S. Bancorp $USB

NEOS Investment Management LLC increased its stake in U.S. Bancorp (NYSE:USB) by 13.4% during the second quarter, according to its most recent filing with the SEC. The fund owned 252,833 shares of the financial services provider’s stock after buying an additional 29,868 shares during the quarter. NEOS Investment Management LLC’s holdings in U.S. Bancorp were worth $15,271,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in USB. Brighton Jones LLC raised its position in U.S. Bancorp by 323.0% in the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock worth $2,309,000 after acquiring an additional 36,863 shares during the period. Empowered Funds LLC grew its position in shares of U.S. Bancorp by 2.1% during the 1st quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock valued at $1,453,000 after acquiring an additional 714 shares during the period. Intech Investment Management LLC grew its position in shares of U.S. Bancorp by 18.9% during the 1st quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock valued at $1,658,000 after acquiring an additional 6,252 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of U.S. Bancorp during the 2nd quarter worth approximately $425,000. Finally, Nebula Research & Development LLC purchased a new stake in shares of U.S. Bancorp during the 2nd quarter worth approximately $701,000. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 0.3%

USB stock opened at $63.36 on Friday. The company’s 50 day moving average is $63.07 and its 200 day moving average is $57.87. The stock has a market cap of $98.72 billion, a price-to-earnings ratio of 12.65, a price-to-earnings-growth ratio of 1.13 and a beta of 0.95. 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 1-year low of $45.02 and a 1-year high of $66.07.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The firm had revenue of $7.69 billion for the quarter, compared to analyst estimates of $7.58 billion. During the same quarter in the prior year, the firm earned $1.11 EPS. Sell-side analysts predict that U.S. Bancorp will post 5.22 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

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

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, CEO Gunjan Kedia sold 27,267 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $62.37, for a total value of $1,700,642.79. Following the completion of the sale, the chief executive officer owned 426,262 shares of the company’s stock, valued at $26,585,960.94. This represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephen L. Philipson sold 36,906 shares of the 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 transaction, the insider owned 74,969 shares in the company, valued at $4,729,044.52. The trade was a 32.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.21% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on USB. Evercore upgraded U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 price objective on the stock in a research note on Monday, July 20th. Weiss Ratings reissued a “buy (b)” rating on shares of U.S. Bancorp in a research report on Friday, July 31st. Keefe, Bruyette & Woods upped their price target on U.S. Bancorp from $63.00 to $66.00 and gave the company a “market perform” rating in a research report on Friday, July 17th. UBS Group increased their price target 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. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $68.00 price objective on shares of U.S. Bancorp in a report on Monday, August 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $67.06.

About U.S. Bancorp

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.