Cardinal Capital Management Inc. Purchases 16,814 Shares of U.S. Bancorp $USB

Cardinal Capital Management Inc. lifted its position in shares of U.S. Bancorp (NYSE:USB) by 5.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 326,565 shares of the financial services provider’s stock after acquiring an additional 16,814 shares during the quarter. Cardinal Capital Management Inc.’s holdings in U.S. Bancorp were worth $19,725,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in U.S. Bancorp by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock valued at $7,810,665,000 after purchasing an additional 1,828,404 shares during the last quarter. State Street Corp grew its holdings in shares of U.S. Bancorp by 0.8% during the fourth quarter. State Street Corp now owns 69,701,898 shares of the financial services provider’s stock worth $3,755,083,000 after purchasing an additional 522,368 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of U.S. Bancorp by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 37,679,617 shares of the financial services provider’s stock worth $2,002,518,000 after purchasing an additional 443,646 shares during the last quarter. Norges Bank acquired a new position in shares of U.S. Bancorp in the fourth quarter valued at approximately $1,887,497,000. Finally, Auto Owners Insurance Co increased its stake in shares of U.S. Bancorp by 5,236.0% in the fourth quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock valued at $1,779,556,000 after buying an additional 32,725,000 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

USB has been the topic of a number of research reports. Robert W. Baird boosted their target price on shares of U.S. Bancorp from $64.00 to $68.00 and gave the stock a “neutral” rating in a report on Friday, July 17th. Evercore raised shares of U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 price target for the company in a research note on Monday, July 20th. Morgan Stanley lifted their price target on shares of U.S. Bancorp from $64.00 to $67.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Stephens raised their target price on U.S. Bancorp from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Friday, July 17th. Finally, DA Davidson lifted their target price on U.S. Bancorp from $72.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, U.S. Bancorp has an average rating of “Moderate Buy” and a consensus target price of $67.06.

U.S. Bancorp Stock Up 0.1%

Shares of NYSE USB opened at $64.28 on Wednesday. The company has a market capitalization of $100.16 billion, a P/E ratio of 12.83, a price-to-earnings-growth ratio of 1.05 and a beta of 0.96. U.S. Bancorp has a 52-week low of $44.86 and a 52-week high of $65.02. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.82 and a current ratio of 0.83. The company’s 50 day moving average price is $61.14 and its 200-day moving average price is $57.19.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.07. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. The company had revenue of $7.69 billion during the quarter, compared to analysts’ expectations of $7.58 billion. During the same period in the prior year, the company posted $1.11 earnings per share. Equities analysts forecast 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. Stockholders of record on Tuesday, June 30th were given a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.2%. U.S. Bancorp’s dividend payout ratio (DPR) is 41.52%.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Stephen L. Philipson sold 36,906 shares of the business’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $63.08, for a total value of $2,328,030.48. Following the transaction, the insider directly owned 74,969 shares of the company’s stock, valued at $4,729,044.52. The trade was a 32.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.21% of the company’s stock.

About U.S. Bancorp

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.