Candriam S.C.A. Raises Holdings in U.S. Bancorp $USB

Candriam S.C.A. increased its stake in shares of U.S. Bancorp (NYSE:USB) by 65.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 587,001 shares of the financial services provider’s stock after acquiring an additional 232,616 shares during the quarter. Candriam S.C.A.’s holdings in U.S. Bancorp were worth $26,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of USB. Crestwood Advisors Group LLC increased its stake in shares of U.S. Bancorp by 10.6% during the first quarter. Crestwood Advisors Group LLC now owns 6,784 shares of the financial services provider’s stock valued at $286,000 after buying an additional 649 shares during the period. Ally Financial Inc. boosted its holdings in U.S. Bancorp by 12.3% in the first quarter. Ally Financial Inc. now owns 91,000 shares of the financial services provider’s stock valued at $3,842,000 after acquiring an additional 10,000 shares in the last quarter. Andra AP fonden increased its position in U.S. Bancorp by 175.6% during the 2nd quarter. Andra AP fonden now owns 458,400 shares of the financial services provider’s stock valued at $20,743,000 after purchasing an additional 292,100 shares during the period. Jump Financial LLC raised its holdings in U.S. Bancorp by 1,952.5% in the 1st quarter. Jump Financial LLC now owns 840,308 shares of the financial services provider’s stock worth $35,478,000 after purchasing an additional 799,368 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc purchased a new stake in shares of U.S. Bancorp in the 1st quarter worth about $428,000. Institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

USB has been the topic of several research analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of U.S. Bancorp in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $52.50 target price on the stock in a report on Thursday, October 23rd. Evercore ISI raised their target price on U.S. Bancorp from $49.00 to $54.00 and gave the company an “in-line” rating in a research note on Tuesday, September 30th. Oppenheimer reduced their price target on U.S. Bancorp from $67.00 to $66.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 23rd. Finally, The Goldman Sachs Group set a $52.00 price objective on U.S. Bancorp and gave the company a “neutral” rating in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $54.55.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $46.86, for a total value of $1,260,955.74. Following the completion of the transaction, the executive vice president directly owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. The trade was a 10.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Andrew Cecere sold 140,445 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the completion of the transaction, the chairman owned 1,360,414 shares in the company, valued at approximately $63,041,584.76. This represents a 9.36% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Stock Down 1.3%

USB stock opened at $47.29 on Friday. The business has a 50 day moving average of $47.86 and a 200 day moving average of $46.01. The firm has a market cap of $73.51 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 1.25 and a beta of 1.10. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The firm had revenue of $7.34 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same period in the prior year, the firm posted $1.03 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. On average, research analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a dividend of $0.52 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.08 annualized dividend and a yield of 4.4%. U.S. Bancorp’s payout ratio is currently 47.60%.

About U.S. Bancorp

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.