NN Investment Partners Holdings N.V. cut its position in shares of U.S. Bancorp (NYSE:USB) by 9.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 613,454 shares of the financial services provider’s stock after selling 64,775 shares during the quarter. NN Investment Partners Holdings N.V.’s holdings in U.S. Bancorp were worth $32,146,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the stock. Geode Capital Management LLC grew its holdings in U.S. Bancorp by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 18,322,754 shares of the financial services provider’s stock worth $835,766,000 after acquiring an additional 1,285,265 shares in the last quarter. MML Investors Services LLC grew its holdings in U.S. Bancorp by 6.0% during the 4th quarter. MML Investors Services LLC now owns 34,759 shares of the financial services provider’s stock worth $1,588,000 after acquiring an additional 1,982 shares in the last quarter. Edge Capital Group LLC acquired a new position in U.S. Bancorp during the 4th quarter worth approximately $227,000. Sontag Advisory LLC acquired a new position in U.S. Bancorp during the 4th quarter worth approximately $55,000. Finally, Miramar Capital LLC purchased a new stake in shares of U.S. Bancorp during the 4th quarter worth approximately $3,667,000. Institutional investors and hedge funds own 74.67% of the company’s stock.
Several analysts have recently weighed in on the stock. Bank of America boosted their price objective on shares of Micron Technology from $45.00 to $60.00 and gave the stock an “average” rating in a research report on Thursday, July 18th. Wedbush assumed coverage on shares of Millendo Therapeutics in a research report on Thursday, July 18th. They set an “outperform” rating and a $24.00 price objective for the company. Oppenheimer set a $15.00 price objective on shares of Strongbridge Biopharma and gave the stock a “buy” rating in a research report on Tuesday, March 26th. JPMorgan Chase & Co. assumed coverage on shares of Pinduoduo in a research report on Tuesday, July 9th. They set an “underweight” rating and a $20.48 price objective for the company. Finally, Morgan Stanley boosted their price objective on shares of Yum! Brands from $97.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $56.63.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. U.S. Bancorp had a net margin of 26.70% and a return on equity of 15.45%. The firm had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.73 billion. During the same quarter in the prior year, the firm earned $1.02 EPS. U.S. Bancorp’s revenue for the quarter was down 1.1% on a year-over-year basis. Analysts predict that U.S. Bancorp will post 4.29 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a $0.37 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $1.48 annualized dividend and a yield of 2.64%. U.S. Bancorp’s dividend payout ratio (DPR) is 36.10%.
U.S. Bancorp declared that its Board of Directors has approved a share buyback program on Thursday, June 27th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 3.6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
In other U.S. Bancorp news, Vice Chairman Gillern Jeffry H. Von sold 4,669 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $53.14, for a total transaction of $248,110.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is owned by corporate insiders.
U.S. Bancorp Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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