U.S. Bancorp (NYSE:USB) Stock Holdings Decreased by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. lessened its stake in U.S. Bancorp (NYSE:USB) by 7.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,222,271 shares of the financial services provider’s stock after selling 97,390 shares during the quarter. Royal London Asset Management Ltd. owned approximately 0.08% of U.S. Bancorp worth $48,524,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Norges Bank bought a new position in U.S. Bancorp during the 4th quarter worth approximately $827,370,000. Boston Partners bought a new position in U.S. Bancorp during the fourth quarter worth $154,517,000. Confluence Investment Management LLC acquired a new position in U.S. Bancorp in the first quarter worth $92,192,000. National Bank of Canada FI increased its stake in U.S. Bancorp by 313.8% during the second quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock valued at $105,903,000 after purchasing an additional 2,046,522 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in shares of U.S. Bancorp by 88.9% during the first quarter. BNP Paribas Financial Markets now owns 2,331,050 shares of the financial services provider’s stock worth $104,198,000 after purchasing an additional 1,097,179 shares during the period. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 0.5 %

Shares of USB stock opened at $45.03 on Wednesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. The stock has a market cap of $70.27 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 4.34 and a beta of 1.03. The business’s fifty day moving average is $43.63 and its 200-day moving average is $42.14. U.S. Bancorp has a 1 year low of $30.47 and a 1 year high of $47.31.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.94 by $0.04. The firm had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. U.S. Bancorp’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.12 earnings per share. Equities analysts expect that U.S. Bancorp will post 3.87 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a $0.49 dividend. The ex-dividend date was Friday, June 28th. This represents a $1.96 annualized dividend and a yield of 4.35%. U.S. Bancorp’s dividend payout ratio (DPR) is 64.90%.

Insider Buying and Selling at U.S. Bancorp

In related news, Director Aleem Gillani acquired 10,000 shares of U.S. Bancorp stock in a transaction dated Thursday, July 18th. The stock was acquired at an average cost of $44.99 per share, with a total value of $449,900.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $449,900. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on USB shares. The Goldman Sachs Group boosted their price objective on shares of U.S. Bancorp from $42.00 to $47.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Evercore ISI increased their price target on U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. UBS Group raised their price target on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Wells Fargo & Company upped their price objective on U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. Finally, Jefferies Financial Group cut their target price on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $48.23.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.