Davis Selected Advisers Increases Stock Holdings in U.S. Bancorp (NYSE:USB)

Davis Selected Advisers raised its stake in U.S. Bancorp (NYSE:USB) by 0.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,228,444 shares of the financial services provider’s stock after purchasing an additional 43,437 shares during the period. U.S. Bancorp makes up approximately 3.2% of Davis Selected Advisers’ holdings, making the stock its 9th biggest position. Davis Selected Advisers owned 0.91% of U.S. Bancorp worth $564,869,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in U.S. Bancorp by 0.4% during the first quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider’s stock worth $6,051,096,000 after buying an additional 502,776 shares in the last quarter. Norges Bank bought a new stake in shares of U.S. Bancorp in the 4th quarter worth approximately $827,370,000. Bank of New York Mellon Corp grew its holdings in shares of U.S. Bancorp by 0.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,312,930 shares of the financial services provider’s stock worth $528,523,000 after purchasing an additional 94,841 shares in the last quarter. Van ECK Associates Corp increased its position in shares of U.S. Bancorp by 2.9% during the second quarter. Van ECK Associates Corp now owns 9,478,454 shares of the financial services provider’s stock valued at $376,295,000 after purchasing an additional 271,078 shares during the period. Finally, First Eagle Investment Management LLC raised its stake in shares of U.S. Bancorp by 0.3% in the first quarter. First Eagle Investment Management LLC now owns 8,921,691 shares of the financial services provider’s stock valued at $398,800,000 after purchasing an additional 23,826 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock traded up $0.50 during midday trading on Monday, reaching $44.99. The company had a trading volume of 156,672 shares, compared to its average volume of 8,299,921. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. The stock has a fifty day simple moving average of $43.41 and a 200 day simple moving average of $42.08. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $47.31. The company has a market capitalization of $70.21 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 4.34 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last released its 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. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same period last year, the firm earned $1.12 EPS. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, equities research analysts forecast that U.S. Bancorp will post 3.87 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend was Friday, June 28th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani acquired 10,000 shares of U.S. Bancorp stock in a transaction on Thursday, July 18th. The shares were purchased at an average cost of $44.99 per share, with a total value of $449,900.00. Following the completion of the purchase, the director now owns 10,000 shares in the company, valued at $449,900. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on USB. UBS Group lifted their price target on shares of U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. The Goldman Sachs Group increased their price target on shares of U.S. Bancorp from $42.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Morgan Stanley lifted their price objective on U.S. Bancorp from $47.00 to $54.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Evercore ISI increased their target price on U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Finally, Wells Fargo & Company boosted their price target on U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $48.23.

U.S. Bancorp 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.