Swedbank AB Has $24.75 Million Position in U.S. Bancorp (NYSE:USB)

Swedbank AB lifted its holdings in U.S. Bancorp (NYSE:USB) by 5.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 541,266 shares of the financial services provider’s stock after purchasing an additional 26,281 shares during the quarter. Swedbank AB’s holdings in U.S. Bancorp were worth $24,752,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Redwood Wealth Management Group LLC bought a new stake in shares of U.S. Bancorp during the second quarter worth $25,000. Frazier Financial Advisors LLC increased its holdings in U.S. Bancorp by 222.7% during the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 441 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of U.S. Bancorp in the 2nd quarter valued at about $30,000. LRI Investments LLC bought a new stake in shares of U.S. Bancorp in the first quarter valued at about $31,000. Finally, Y.D. More Investments Ltd bought a new position in shares of U.S. Bancorp during the second quarter worth about $33,000. 77.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Evercore ISI upped their price target on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $54.00 to $57.00 in a report on Monday, September 30th. Oppenheimer lifted their price target on shares of U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group reduced their price objective on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Finally, Robert W. Baird set a $54.00 target price on U.S. Bancorp in a research report on Thursday, October 17th. Twelve equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Hold” and an average target price of $52.02.

U.S. Bancorp Price Performance

Shares of USB opened at $53.63 on Tuesday. The firm has a market capitalization of $83.66 billion, a PE ratio of 16.40, a PEG ratio of 3.10 and a beta of 1.02. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The company’s 50-day moving average is $47.81 and its 200-day moving average is $44.15. U.S. Bancorp has a fifty-two week low of $36.49 and a fifty-two week high of $53.93.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The firm had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same period last year, the business posted $1.05 earnings per share. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. Equities analysts forecast that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 3.73%. U.S. Bancorp’s payout ratio is 61.16%.

U.S. Bancorp declared that its board has approved a share buyback program on Thursday, September 12th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the transaction, the insider now owns 129,790 shares in the company, valued at $6,363,603.70. This represents a 16.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.23% of the company’s stock.

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.