Oslo Pensjonsforsikring AS Invests $505,000 in U.S. Bancorp $USB

Oslo Pensjonsforsikring AS acquired a new stake in U.S. Bancorp (NYSE:USB) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 9,715 shares of the financial services provider’s stock, valued at approximately $505,000.

A number of other institutional investors have also modified their holdings of USB. Inceptionr LLC boosted its position in shares of U.S. Bancorp by 424.4% in the fourth quarter. Inceptionr LLC now owns 27,614 shares of the financial services provider’s stock worth $1,473,000 after buying an additional 22,348 shares during the period. Savvy Advisors Inc. raised its holdings in shares of U.S. Bancorp by 244.4% during the 4th quarter. Savvy Advisors Inc. now owns 30,872 shares of the financial services provider’s stock valued at $1,647,000 after buying an additional 21,907 shares during the period. Cardinal Capital Management Inc. raised its holdings in shares of U.S. Bancorp by 17.3% during the 4th quarter. Cardinal Capital Management Inc. now owns 285,196 shares of the financial services provider’s stock valued at $15,218,000 after buying an additional 42,095 shares during the period. Keudell Morrison Wealth Management acquired a new position in U.S. Bancorp during the 4th quarter worth approximately $2,856,000. Finally, Murphy Middleton Hinkle & Parker Inc. acquired a new position in U.S. Bancorp during the 4th quarter worth approximately $1,249,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Key Headlines Impacting U.S. Bancorp

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

• Positive Sentiment: Evercore ISI upgraded U.S. Bancorp (USB) from in-line to outperform and set a $72 price target, pointing to meaningful upside from current levels. The Fly article
• Positive Sentiment: JPMorgan raised U.S. Bancorp (USB) from underweight to neutral and increased its price target to $67.50, citing growth in fee revenue. Benzinga article
• Positive Sentiment: Recent commentary highlighted U.S. Bancorp as a strong dividend stock, which may be supporting investor interest in the name. Zacks article
• Neutral Sentiment: Several recent articles compared USB’s year-to-date performance with other financial stocks, suggesting the stock has been performing solidly relative to peers, but these pieces were mostly informational rather than clearly market-moving. MSN article

Wall Street Analysts Forecast Growth

Several analysts have issued reports on USB shares. DA Davidson increased their price objective on shares of U.S. Bancorp from $72.00 to $74.00 and gave the company a “buy” rating in a research report on Friday. Robert W. Baird boosted their target price on shares of U.S. Bancorp from $64.00 to $68.00 and gave the stock a “neutral” rating in a research report on Friday, July 17th. UBS Group upped their target price on shares of U.S. Bancorp from $58.00 to $66.00 and gave the company a “neutral” rating in a research note on Tuesday, July 7th. Raymond James Financial assumed coverage on shares of U.S. Bancorp in a report on Wednesday, July 8th. They set a “strong-buy” rating and a $72.00 price target for the company. Finally, Wall Street Zen raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $67.00.

Insider Transactions at U.S. Bancorp

In related news, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the sale, the executive vice president directly owned 51,292 shares of the company’s stock, valued at $2,847,731.84. This represents a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.21% of the stock is owned by corporate insiders.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $63.69 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.96. U.S. Bancorp has a fifty-two week low of $43.46 and a fifty-two week high of $64.84. The business has a 50 day moving average price of $58.24 and a two-hundred day moving average price of $56.22. The firm has a market cap of $98.78 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 1.04 and a beta of 0.96.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.07. The company had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same period in the prior year, the company posted $1.11 EPS. Sell-side analysts expect that U.S. Bancorp will post 5.2 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

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

U.S. Bancorp 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.