KBC Group NV Has $11.22 Million Position in U.S. Bancorp $USB

KBC Group NV raised its stake in U.S. Bancorp (NYSE:USB) by 15.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 247,924 shares of the financial services provider’s stock after buying an additional 33,430 shares during the period. KBC Group NV’s holdings in U.S. Bancorp were worth $11,219,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in U.S. Bancorp by 323.0% during the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock worth $2,309,000 after purchasing an additional 36,863 shares during the last quarter. Victory Capital Management Inc. raised its stake in U.S. Bancorp by 2.1% during the first quarter. Victory Capital Management Inc. now owns 730,630 shares of the financial services provider’s stock worth $30,847,000 after buying an additional 15,374 shares during the last quarter. Cullen Frost Bankers Inc. lifted its holdings in U.S. Bancorp by 0.5% in the first quarter. Cullen Frost Bankers Inc. now owns 59,915 shares of the financial services provider’s stock valued at $2,530,000 after buying an additional 302 shares during the period. Verdence Capital Advisors LLC lifted its holdings in U.S. Bancorp by 2.5% in the first quarter. Verdence Capital Advisors LLC now owns 47,859 shares of the financial services provider’s stock valued at $2,021,000 after buying an additional 1,150 shares during the period. Finally, Dynasty Wealth Management LLC boosted its position in U.S. Bancorp by 3.3% during the first quarter. Dynasty Wealth Management LLC now owns 9,304 shares of the financial services provider’s stock valued at $393,000 after acquiring an additional 294 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Wall Street Zen raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. UBS Group lifted their target price on U.S. Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Evercore ISI increased their price target on U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a report on Tuesday, September 30th. The Goldman Sachs Group set a $52.00 price objective on shares of U.S. Bancorp and gave the stock a “neutral” rating in a research report on Friday, October 17th. Finally, TD Cowen boosted their target price on shares of U.S. Bancorp from $59.00 to $60.00 and gave the company a “buy” rating in a research report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $54.55.

Insider Transactions at U.S. Bancorp

In other news, Chairman Andrew Cecere sold 140,445 shares of the stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.34, for a total value of $6,508,221.30. Following the completion of the sale, the chairman directly owned 1,360,414 shares of the company’s stock, valued at $63,041,584.76. This represents a 9.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP James L. Chosy sold 26,909 shares of the firm’s stock in a transaction that occurred on 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 owned 226,375 shares in the company, valued at $10,607,932.50. This represents a 10.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $47.09 on Friday. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The stock’s 50 day moving average is $47.83 and its 200-day moving average is $46.06. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. The firm has a market capitalization of $73.19 billion, a price-to-earnings ratio of 10.78, a PEG ratio of 1.25 and a beta of 1.10.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The business had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.17 billion. During the same quarter in the previous year, the business posted $1.03 EPS. U.S. Bancorp’s quarterly revenue was up 6.8% on a year-over-year basis. Sell-side analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

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

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.