Cetera Investment Advisers Grows Stock Position in U.S. Bancorp (NYSE:USB)

Cetera Investment Advisers boosted its stake in shares of U.S. Bancorp (NYSE:USB) by 10.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 645,487 shares of the financial services provider’s stock after buying an additional 59,961 shares during the period. Cetera Investment Advisers’ holdings in U.S. Bancorp were worth $27,252,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of USB. Invesco Ltd. raised its holdings in U.S. Bancorp by 48.1% during the 4th quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider’s stock valued at $802,947,000 after buying an additional 5,449,949 shares during the period. Marshall Wace LLP increased its stake in U.S. Bancorp by 414.1% in the fourth quarter. Marshall Wace LLP now owns 5,789,565 shares of the financial services provider’s stock worth $276,915,000 after purchasing an additional 4,663,518 shares during the period. FMR LLC increased its stake in U.S. Bancorp by 5.0% in the fourth quarter. FMR LLC now owns 67,125,746 shares of the financial services provider’s stock worth $3,210,624,000 after purchasing an additional 3,211,815 shares during the period. Northern Trust Corp increased its stake in U.S. Bancorp by 10.9% in the fourth quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider’s stock worth $815,529,000 after purchasing an additional 1,670,305 shares during the period. Finally, GAMMA Investing LLC increased its stake in U.S. Bancorp by 4,160.7% in the first quarter. GAMMA Investing LLC now owns 1,547,616 shares of the financial services provider’s stock worth $65,340,000 after purchasing an additional 1,511,293 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

Shares of USB stock opened at $46.32 on Monday. U.S. Bancorp has a 1-year low of $35.18 and a 1-year high of $53.98. The stock’s 50-day moving average is $44.99 and its 200 day moving average is $44.16. The company has a market cap of $72.16 billion, a P/E ratio of 11.08, a PEG ratio of 1.46 and a beta of 0.99. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.04. U.S. Bancorp had a return on equity of 13.08% and a net margin of 16.30%. The company had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same quarter last year, the company earned $0.98 earnings per share. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. Research analysts predict that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend was Monday, June 30th. U.S. Bancorp’s payout ratio is currently 47.85%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on USB shares. Barclays reduced their target price on U.S. Bancorp from $61.00 to $56.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Wolfe Research upgraded U.S. Bancorp from a “peer perform” rating to an “outperform” rating and set a $49.00 target price on the stock in a research note on Thursday, April 3rd. Keefe, Bruyette & Woods reduced their target price on U.S. Bancorp from $54.00 to $49.00 and set a “market perform” rating on the stock in a research note on Thursday, April 17th. Citigroup increased their target price on U.S. Bancorp from $55.00 to $59.00 and gave the stock a “buy” rating in a research note on Wednesday, July 2nd. Finally, Royal Bank Of Canada reduced their target price on U.S. Bancorp from $57.00 to $50.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.50.

Insiders Place Their Bets

In other U.S. Bancorp news, EVP Souheil Badran sold 23,727 shares of the firm’s stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $46.34, for a total value of $1,099,509.18. Following the completion of the sale, the executive vice president owned 70,346 shares of the company’s stock, valued at approximately $3,259,833.64. This trade represents a 25.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp 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.