Westpac Banking Corp raised its stake in U.S. Bancorp (NYSE:USB) by 63.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 121,570 shares of the financial services provider’s stock after buying an additional 47,273 shares during the period. Westpac Banking Corp’s holdings in U.S. Bancorp were worth $4,699,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in USB. Mizuho Asset Management Co. Ltd. increased its stake in U.S. Bancorp by 86.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 22,824 shares of the financial services provider’s stock valued at $920,000 after buying an additional 10,564 shares in the last quarter. Vanguard Group Inc. increased its stake in U.S. Bancorp by 1.3% in the second quarter. Vanguard Group Inc. now owns 96,577,846 shares of the financial services provider’s stock valued at $3,894,984,000 after buying an additional 1,236,893 shares in the last quarter. National Planning Corp increased its stake in U.S. Bancorp by 1.7% in the second quarter. National Planning Corp now owns 20,824 shares of the financial services provider’s stock valued at $863,000 after buying an additional 357 shares in the last quarter. Principal Financial Group Inc. increased its stake in U.S. Bancorp by 1.2% in the second quarter. Principal Financial Group Inc. now owns 2,220,410 shares of the financial services provider’s stock valued at $89,549,000 after buying an additional 26,259 shares in the last quarter. Finally, Brown Advisory Inc. increased its stake in U.S. Bancorp by 9.0% in the second quarter. Brown Advisory Inc. now owns 242,593 shares of the financial services provider’s stock valued at $9,785,000 after buying an additional 19,933 shares in the last quarter. Institutional investors own 72.58% of the company’s stock.

U.S. Bancorp (NYSE:USB) opened at 43.17 on Friday. U.S. Bancorp has a 1-year low of $37.07 and a 1-year high of $44.58. The firm has a market cap of $73.89 billion, a PE ratio of 13.53 and a beta of 0.72. The firm’s 50-day moving average is $43.27 and its 200 day moving average is $41.84.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Friday, July 15th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.03. The business had revenue of $5.45 billion for the quarter. U.S. Bancorp had a net margin of 26.56% and a return on equity of 14.05%. The company’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.80 EPS. On average, equities analysts forecast that U.S. Bancorp will post $3.25 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be paid a $0.28 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.12 annualized dividend and a dividend yield of 2.59%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 31.88%.

Several research firms have issued reports on USB. Piper Jaffray Cos. reiterated an “overweight” rating and set a $46.00 price objective (down from $47.00) on shares of U.S. Bancorp in a research note on Monday. Zacks Investment Research downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Monday. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a research note on Saturday, September 17th. Wells Fargo & Co. reiterated a “buy” rating on shares of U.S. Bancorp in a research note on Friday, September 16th. Finally, Portales Partners upgraded shares of U.S. Bancorp from a “sector perform” rating to an “outperform” rating in a research note on Thursday, August 25th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $45.18.

In other U.S. Bancorp news, EVP Craig E. Gifford sold 2,500 shares of U.S. Bancorp stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $41.87, for a total transaction of $104,675.00. Following the sale, the executive vice president now owns 49,881 shares in the company, valued at $2,088,517.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Gillern Jeffry H. Von sold 102,961 shares of U.S. Bancorp stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $42.00, for a total transaction of $4,324,362.00. Following the sale, the insider now owns 178,422 shares in the company, valued at approximately $7,493,724. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by insiders.

About U.S. Bancorp

U.S. Bancorp is a multi-state financial services holding company. The Company’s banking subsidiary, U.S. Bank National Association, is engaged in the general banking business in domestic markets. It provides a range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services.

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