U.S. Bancorp $USB Shares Newly Acquired by Fulcrum Asset Management LLP

Fulcrum Asset Management LLP acquired a new position in U.S. Bancorp (NYSE:USB) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 13,292 shares of the financial services provider’s stock, valued at approximately $773,000.

A number of other institutional investors have also recently bought and sold shares of USB. Dimensional Fund Advisors LP increased its holdings in shares of U.S. Bancorp by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock worth $539,232,000 after purchasing an additional 93,025 shares during the period. Mufg Bank LTD. bought a new stake in shares of U.S. Bancorp in the second quarter valued at approximately $2,680,199,000. Illinois Municipal Retirement Fund boosted its stake in shares of U.S. Bancorp by 57.1% in the first quarter. Illinois Municipal Retirement Fund now owns 92,257 shares of the financial services provider’s stock valued at $4,798,000 after buying an additional 33,517 shares during the period. First Bank & Trust boosted its stake in shares of U.S. Bancorp by 43.0% in the third quarter. First Bank & Trust now owns 133,794 shares of the financial services provider’s stock valued at $7,728,000 after buying an additional 40,208 shares during the period. Finally, Cardinal Capital Management Inc. grew its position in U.S. Bancorp by 5.4% during the second quarter. Cardinal Capital Management Inc. now owns 326,565 shares of the financial services provider’s stock worth $19,725,000 after buying an additional 16,814 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on USB. TD Cowen initiated coverage on U.S. Bancorp in a research note on Thursday, October 8th. They set a “buy” rating and a $70.00 price objective on the stock. UBS Group lifted their price objective on U.S. Bancorp from $64.00 to $66.00 and gave the company a “neutral” rating in a report on Monday, November 2nd. Oppenheimer upped their target price on U.S. Bancorp from $73.00 to $74.00 and gave the company an “outperform” rating in a research report on Monday, November 2nd. Wolfe Research assumed coverage on U.S. Bancorp in a report on Tuesday, October 27th. They set a “peer perform” rating on the stock. Finally, Evercore restated an “outperform” rating and issued a $67.00 price target (down from $72.00) on shares of U.S. Bancorp in a research report on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.65.

Insider Buying and Selling

In other U.S. Bancorp news, CEO Gunjan Kedia sold 27,267 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the completion of the transaction, the chief executive officer directly owned 426,262 shares in the company, valued at $26,585,960.94. The trade was a 6.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.21% of the stock is currently owned by corporate insiders.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $60.53 on Friday. The firm has a 50 day moving average of $59.55 and a 200-day moving average of $58.28. The stock has a market capitalization of $94.32 billion, a PE ratio of 11.83, a PEG ratio of 1.16 and a beta of 1.02. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.87. U.S. Bancorp has a 12 month low of $45.02 and a 12 month high of $66.07.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.02. The company had revenue of $8.04 billion during the quarter, compared to the consensus estimate of $8 billion. U.S. Bancorp had a net margin of 18.85% and a return on equity of 13.85%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.22 EPS. On average, equities research analysts predict that U.S. Bancorp will post 5.30 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 3.6%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Wednesday, September 30th. U.S. Bancorp’s payout ratio is 42.11%.

U.S. Bancorp Profile

U.S. Bancorp is the parent company of U.S. Bank, a financial services provider serving consumers, businesses, institutions and government entities across the United States. Its history traces to 1863, when one of its predecessor institutions, First National Bank of Cincinnati, was established. U.S. Bank offers consumer and business banking, lending, payment services, wealth management, investment services and corporate trust services. Its products include checking and savings accounts, credit cards, mortgages, commercial loans and digital banking solutions.