Forsta AP Fonden Has $14.55 Million Stock Position in U.S. Bancorp (NYSE:USB)

Forsta AP Fonden decreased its stake in shares of U.S. Bancorp (NYSE:USBGet Rating) by 14.0% during the 1st quarter, Holdings Channel reports. The firm owned 273,800 shares of the financial services provider’s stock after selling 44,700 shares during the period. Forsta AP Fonden’s holdings in U.S. Bancorp were worth $14,552,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in USB. Delos Wealth Advisors LLC acquired a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $29,000. Advocacy Wealth Management Services LLC increased its holdings in shares of U.S. Bancorp by 72.3% during the 1st quarter. Advocacy Wealth Management Services LLC now owns 572 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 240 shares during the last quarter. Westside Investment Management Inc. increased its holdings in shares of U.S. Bancorp by 45.6% during the 1st quarter. Westside Investment Management Inc. now owns 648 shares of the financial services provider’s stock worth $34,000 after acquiring an additional 203 shares during the last quarter. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $36,000. Finally, Elmwood Wealth Management Inc. acquired a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 74.92% of the company’s stock.

U.S. Bancorp Price Performance

Shares of USB stock opened at $47.39 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.70. U.S. Bancorp has a twelve month low of $43.74 and a twelve month high of $63.57. The company has a market cap of $70.41 billion, a P/E ratio of 10.89, a P/E/G ratio of 1.62 and a beta of 0.97. The business has a fifty day simple moving average of $47.66 and a 200 day simple moving average of $51.95.

U.S. Bancorp (NYSE:USBGet Rating) last announced its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. U.S. Bancorp had a return on equity of 15.05% and a net margin of 28.08%. The business had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.89 billion. During the same period in the prior year, the company earned $1.28 EPS. U.S. Bancorp’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, sell-side analysts forecast that U.S. Bancorp will post 4.48 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were given a dividend of $0.46 per share. The ex-dividend date was Wednesday, June 29th. This represents a $1.84 annualized dividend and a dividend yield of 3.88%. U.S. Bancorp’s dividend payout ratio is currently 42.30%.

Analyst Upgrades and Downgrades

USB has been the topic of a number of recent analyst reports. Royal Bank of Canada decreased their target price on U.S. Bancorp from $66.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, July 1st. Credit Suisse Group decreased their price objective on U.S. Bancorp from $57.00 to $54.00 and set a “neutral” rating on the stock in a report on Tuesday, July 19th. Bank of America upped their price objective on U.S. Bancorp from $54.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, April 18th. Jefferies Financial Group decreased their price objective on U.S. Bancorp from $52.00 to $45.00 in a report on Monday, July 11th. Finally, UBS Group lowered U.S. Bancorp from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $64.00 to $56.00 in a report on Friday, April 8th. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $58.47.

About U.S. Bancorp

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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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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