Park Avenue Securities LLC Grows Stock Holdings in U.S. Bancorp (NYSE:USB)

Park Avenue Securities LLC raised its holdings in shares of U.S. Bancorp (NYSE:USB) by 0.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 167,395 shares of the financial services provider’s stock after acquiring an additional 450 shares during the quarter. Park Avenue Securities LLC’s holdings in U.S. Bancorp were worth $6,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in U.S. Bancorp during the 4th quarter worth about $827,370,000. Boston Partners bought a new position in shares of U.S. Bancorp in the fourth quarter valued at approximately $154,517,000. Charles Schwab Investment Management Inc. grew its stake in U.S. Bancorp by 8.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,719,110 shares of the financial services provider’s stock valued at $1,459,363,000 after acquiring an additional 2,598,163 shares in the last quarter. Confluence Investment Management LLC bought a new stake in U.S. Bancorp during the 1st quarter worth approximately $92,192,000. Finally, BNP Paribas Financial Markets lifted its stake in U.S. Bancorp by 88.9% in the 1st quarter. BNP Paribas Financial Markets now owns 2,331,050 shares of the financial services provider’s stock worth $104,198,000 after purchasing an additional 1,097,179 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 0.6 %

Shares of USB stock traded down $0.27 during midday trading on Wednesday, reaching $41.40. 6,839,957 shares of the stock were exchanged, compared to its average volume of 8,583,247. U.S. Bancorp has a 1 year low of $30.47 and a 1 year high of $45.88. The firm has a market cap of $64.60 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 4.20 and a beta of 1.04. The company’s 50 day moving average is $41.14 and its two-hundred day moving average is $41.60. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.04. The company 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%. The firm’s revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.12 earnings per share. On average, equities research analysts predict that U.S. Bancorp will post 3.9 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.49 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.96 annualized dividend and a dividend yield of 4.73%. U.S. Bancorp’s payout ratio is 64.90%.

Insider Buying and Selling

In other U.S. Bancorp news, Director Aleem Gillani acquired 10,000 shares of the company’s stock in a transaction that occurred on 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 purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $449,900. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on USB. Royal Bank of Canada upped their price target on shares of U.S. Bancorp from $47.00 to $48.00 and gave the stock an “outperform” rating in a report on Thursday, July 18th. Evercore ISI increased their target price on U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. Jefferies Financial Group decreased their price target on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Citigroup lifted their target price on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.23.

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.