M&G Plc Has $12.57 Million Stake in U.S. Bancorp (NYSE:USB)

M&G Plc lifted its stake in shares of U.S. Bancorp (NYSE:USB) by 73.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 314,241 shares of the financial services provider’s stock after acquiring an additional 133,498 shares during the period. M&G Plc’s holdings in U.S. Bancorp were worth $12,570,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Naples Money Management LLC bought a new position in shares of U.S. Bancorp in the fourth quarter valued at approximately $30,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of U.S. Bancorp in the first quarter valued at about $30,000. Eagle Bay Advisors LLC raised its holdings in shares of U.S. Bancorp by 93.2% in the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 331 shares during the last quarter. LRI Investments LLC purchased a new position in U.S. Bancorp during the first quarter worth about $31,000. Finally, Crewe Advisors LLC bought a new stake in U.S. Bancorp in the 1st quarter worth about $39,000. 77.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. downgraded U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price on the stock. in a research note on Thursday, June 27th. UBS Group upped their price objective on U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Jefferies Financial Group cut their price target on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Finally, Barclays decreased their price objective on shares of U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $48.23.

U.S. Bancorp Stock Up 2.2 %

Shares of NYSE:USB opened at $42.40 on Wednesday. The firm has a fifty day moving average price of $41.37 and a two-hundred day moving average price of $41.58. U.S. Bancorp has a one year low of $30.47 and a one year high of $45.88. The company has a market cap of $66.16 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 4.20 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company earned $1.12 EPS. Analysts anticipate that U.S. Bancorp will post 3.9 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 4.62%. The ex-dividend date was Friday, June 28th. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

Insider Buying and Selling at U.S. Bancorp

In related news, Director Aleem Gillani bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was bought at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $449,900. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.23% of the company’s stock.

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.