First Nebraska Trust Co Acquires New Shares in U.S. Bancorp $USB

First Nebraska Trust Co acquired a new position in U.S. Bancorp (NYSE:USB) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 123,526 shares of the financial services provider’s stock, valued at approximately $6,425,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Clayton Financial Group LLC acquired a new position in shares of U.S. Bancorp in the 4th quarter valued at $25,000. Financial Life Planners purchased a new position in shares of U.S. Bancorp during the 1st quarter worth $27,000. Main Street Group LTD acquired a new stake in shares of U.S. Bancorp during the 1st quarter worth about $28,000. Rossby Financial LCC raised its holdings in U.S. Bancorp by 57.8% in the 4th quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock valued at $31,000 after buying an additional 212 shares during the period. Finally, NFSG Corp purchased a new stake in U.S. Bancorp in the 1st quarter valued at about $31,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Jefferies Financial Group raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and increased their target price for the stock from $60.00 to $75.00 in a research note on Monday, July 6th. Barclays boosted their price target on shares of U.S. Bancorp from $67.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Oppenheimer upped their price objective on shares of U.S. Bancorp from $73.00 to $77.00 and gave the stock an “outperform” rating in a report on Friday, July 17th. Raymond James Financial initiated coverage on shares of U.S. Bancorp in a research report on Wednesday, July 8th. They set a “strong-buy” rating and a $72.00 price objective for the company. Finally, BTIG Research set a $67.50 target price on shares of U.S. Bancorp in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.06.

Insider Buying and Selling

In other U.S. Bancorp news, insider Stephen L. Philipson sold 36,906 shares of the firm’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $63.08, for a total value of $2,328,030.48. Following the completion of the transaction, the insider owned 74,969 shares of the company’s stock, valued at $4,729,044.52. This trade represents a 32.99% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Venkatachari Dilip sold 34,522 shares of the business’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the transaction, the executive vice president owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

U.S. Bancorp Price Performance

USB opened at $63.00 on Friday. The stock’s 50-day moving average price is $59.82 and its 200 day moving average price is $56.70. U.S. Bancorp has a 12-month low of $43.46 and a 12-month high of $64.84. The firm has a market cap of $97.72 billion, a price-to-earnings ratio of 12.58, a PEG ratio of 1.03 and a beta of 0.96. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.07. The company had revenue of $7.71 billion during the quarter, compared to the consensus estimate of $7.58 billion. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.During the same period in the previous year, the company posted $1.11 EPS. As a group, sell-side analysts expect that U.S. Bancorp will post 5.22 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.52 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.3%. U.S. Bancorp’s payout ratio is 41.52%.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.