AustralianSuper Pty Ltd Trims Stock Position in U.S. Bancorp $USB

AustralianSuper Pty Ltd lessened its stake in U.S. Bancorp (NYSE:USB) by 39.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 161,380 shares of the financial services provider’s stock after selling 102,990 shares during the period. AustralianSuper Pty Ltd’s holdings in U.S. Bancorp were worth $7,799,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in USB. Vanguard Group Inc. boosted its position in shares of U.S. Bancorp by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider’s stock valued at $6,482,935,000 after purchasing an additional 2,038,996 shares during the period. Geode Capital Management LLC lifted its stake in U.S. Bancorp by 1.3% in the second quarter. Geode Capital Management LLC now owns 36,632,410 shares of the financial services provider’s stock valued at $1,650,305,000 after buying an additional 456,890 shares during the last quarter. Norges Bank acquired a new stake in shares of U.S. Bancorp in the second quarter valued at approximately $971,285,000. Davis Selected Advisers grew its position in shares of U.S. Bancorp by 29.8% during the second quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock worth $874,757,000 after acquiring an additional 4,442,623 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC grew its position in shares of U.S. Bancorp by 3.7% during the second quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 16,569,422 shares of the financial services provider’s stock worth $749,766,000 after acquiring an additional 585,968 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on USB shares. Bank of America increased their price target on shares of U.S. Bancorp from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, October 17th. TD Cowen upped their target price on shares of U.S. Bancorp from $65.00 to $66.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Royal Bank Of Canada raised their price target on U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. DA Davidson upped their price objective on U.S. Bancorp from $63.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Finally, Keefe, Bruyette & Woods increased their price objective on U.S. Bancorp from $58.00 to $59.00 and gave the stock a “market perform” rating in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average price target of $58.19.

U.S. Bancorp Trading Up 1.1%

NYSE USB opened at $56.35 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $87.60 billion, a P/E ratio of 12.20, a P/E/G ratio of 1.00 and a beta of 1.07. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $56.70. The firm has a 50-day moving average price of $53.37 and a 200 day moving average price of $49.33.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.07. The company had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.31 billion. U.S. Bancorp had a return on equity of 13.48% and a net margin of 17.66%.The firm’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.07 EPS. Equities research analysts expect that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio is currently 45.02%.

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.