Swedbank AB Has $24.75 Million Stock Holdings 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 the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 541,266 shares of the financial services provider’s stock after buying an additional 26,281 shares during the period. Swedbank AB’s holdings in U.S. Bancorp were worth $24,752,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of USB. Redwood Wealth Management Group LLC acquired a new stake in shares of U.S. Bancorp in the second quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. bought a new position in U.S. Bancorp during the first quarter valued at about $30,000. 1620 Investment Advisors Inc. bought a new position in U.S. Bancorp during the second quarter valued at about $30,000. Eagle Bay Advisors LLC increased its stake in U.S. Bancorp by 93.2% during the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 331 shares during the period. Finally, LRI Investments LLC bought a new stake in shares of U.S. Bancorp in the 1st quarter valued at approximately $31,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Trading Up 4.7 %

NYSE:USB opened at $49.21 on Thursday. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $50.11. The firm has a 50-day moving average price of $44.94 and a two-hundred day moving average price of $42.58. The firm has a market cap of $76.78 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.94 by $0.04. The firm had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the firm earned $1.12 EPS. On average, equities analysts expect that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.50 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.06%. U.S. Bancorp’s payout ratio is presently 66.23%.

U.S. Bancorp declared that its Board of Directors has initiated a stock repurchase program on Thursday, September 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on USB shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $48.00 price objective on shares of U.S. Bancorp in a research note on Friday, September 13th. Oppenheimer raised their price target on U.S. Bancorp from $54.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. UBS Group raised their price objective on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Jefferies Financial Group dropped their price objective on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Finally, Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $54.00 to $57.00 in a research note on Monday, September 30th. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $49.14.

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.