Munich Reinsurance Co Stock Corp in Munich Buys 57,357 Shares of U.S. Bancorp $USB

Munich Reinsurance Co Stock Corp in Munich raised its stake in shares of U.S. Bancorp (NYSE:USB) by 1,373.8% in the first quarter, Holdings Channel reports. The institutional investor owned 61,532 shares of the financial services provider’s stock after buying an additional 57,357 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich’s holdings in U.S. Bancorp were worth $3,200,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Personal CFO Solutions LLC increased its holdings in U.S. Bancorp by 16.5% during the 1st quarter. Personal CFO Solutions LLC now owns 18,832 shares of the financial services provider’s stock worth $989,000 after acquiring an additional 2,667 shares during the period. Richmond Investment Services LLC boosted its holdings in U.S. Bancorp by 2.9% in the 1st quarter. Richmond Investment Services LLC now owns 10,403 shares of the financial services provider’s stock valued at $541,000 after purchasing an additional 296 shares during the period. Flatrock Wealth Partners LLC purchased a new position in shares of U.S. Bancorp during the 1st quarter valued at $268,000. Bank of Stockton grew its position in shares of U.S. Bancorp by 11.1% during the 1st quarter. Bank of Stockton now owns 17,672 shares of the financial services provider’s stock valued at $919,000 after purchasing an additional 1,762 shares in the last quarter. Finally, Pioneer Trust Bank N A OR increased its holdings in shares of U.S. Bancorp by 12.3% in the first quarter. Pioneer Trust Bank N A OR now owns 25,886 shares of the financial services provider’s stock worth $1,346,000 after purchasing an additional 2,840 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on USB shares. UBS Group raised their price target on U.S. Bancorp from $58.00 to $66.00 and gave the company a “neutral” rating in a report on Tuesday. Jefferies Financial Group upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and raised their price objective for the company from $60.00 to $75.00 in a research report on Monday. Wells Fargo & Company lifted their price target on U.S. Bancorp from $62.00 to $66.00 and gave the stock an “overweight” rating in a research note on Monday. DA Davidson reaffirmed a “buy” rating and set a $65.00 target price on shares of U.S. Bancorp in a report on Friday, April 17th. Finally, Morgan Stanley boosted their target price on U.S. Bancorp from $64.00 to $67.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.31.

U.S. Bancorp Stock Performance

NYSE:USB opened at $61.09 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03. The firm’s fifty day simple moving average is $56.94 and its 200 day simple moving average is $55.69. The stock has a market cap of $94.76 billion, a P/E ratio of 12.81, a price-to-earnings-growth ratio of 1.08 and a beta of 0.96. U.S. Bancorp has a twelve month low of $43.46 and a twelve month high of $63.39.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, topping the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The firm had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.27 billion. During the same period last year, the company posted $1.03 EPS. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. As a group, research analysts predict that U.S. Bancorp will post 5.11 EPS for the current year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th will be given a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.4%. U.S. Bancorp’s dividend payout ratio is currently 43.61%.

Key U.S. Bancorp News

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: Raymond James initiated coverage on U.S. Bancorp with a strong-buy rating and a $72 price target, implying notable upside from current levels.
• Positive Sentiment: UBS raised its price target on USB to $66 from $58, while Wells Fargo also lifted its target to $66, reinforcing expectations for more share-price appreciation.
• Positive Sentiment: Jefferies upgraded U.S. Bancorp to Buy, adding to the bullish analyst momentum around the stock.
• Positive Sentiment: U.S. Bank launched Enhanced Payments, a bundled solution for small businesses designed to move money faster and more affordably, which could support fee growth and deepen client relationships. Article: U.S. Bank Launches Enhanced Payments to Help Small Businesses Move Money Quickly and More Affordably
• Neutral Sentiment: Several articles compared USB with BNY as a value stock, which highlights investor interest in valuation but does not on its own signal a major fundamental change.
• Neutral Sentiment: Coverage on the Wix-Elavon partnership is supportive of U.S. Bank’s payments business, but the direct financial impact appears limited for now.
• Negative Sentiment: Oppenheimer reportedly lowered its price target on USB, which partially offsets the recent bullish analyst updates.

Insider Buying and Selling

In related news, EVP Venkatachari Dilip sold 34,522 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the sale, the executive vice president directly owned 51,292 shares in the company, valued at $2,847,731.84. The trade was a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of the company’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the sale, the insider directly owned 207,251 shares in the company, valued at approximately $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.21% of the company’s stock.

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.