Everence Capital Management Inc. lifted its holdings in shares of U.S. Bancorp (NYSE:USB) by 26.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,372 shares of the financial services provider’s stock after purchasing an additional 11,840 shares during the quarter. U.S. Bancorp accounts for about 0.7% of Everence Capital Management Inc.’s portfolio, making the stock its 29th biggest position. Everence Capital Management Inc.’s holdings in U.S. Bancorp were worth $2,927,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Shelton Capital Management raised its position in shares of U.S. Bancorp by 51.2% during the first quarter. Shelton Capital Management now owns 133,200 shares of the financial services provider’s stock worth $6,860,000 after purchasing an additional 45,116 shares during the period. Bank of Montreal Can raised its position in shares of U.S. Bancorp by 2.6% during the second quarter. Bank of Montreal Can now owns 6,171,700 shares of the financial services provider’s stock worth $320,434,000 after purchasing an additional 159,319 shares during the period. Stratos Wealth Partners LTD. raised its position in shares of U.S. Bancorp by 13.1% during the first quarter. Stratos Wealth Partners LTD. now owns 40,541 shares of the financial services provider’s stock worth $2,088,000 after purchasing an additional 4,683 shares during the period. TIAA CREF Investment Management LLC raised its position in shares of U.S. Bancorp by 1.1% during the first quarter. TIAA CREF Investment Management LLC now owns 6,968,670 shares of the financial services provider’s stock worth $358,887,000 after purchasing an additional 73,504 shares during the period. Finally, New England Asset Management Inc. raised its position in shares of U.S. Bancorp by 52.5% during the first quarter. New England Asset Management Inc. now owns 26,571,846 shares of the financial services provider’s stock worth $1,368,451,000 after purchasing an additional 9,150,126 shares during the period. 73.95% of the stock is currently owned by institutional investors.

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U.S. Bancorp (NYSE:USB) opened at 53.27 on Thursday. The company has a market capitalization of $89.11 billion, a P/E ratio of 16.09 and a beta of 0.87. The firm has a 50-day moving average price of $52.82 and a 200-day moving average price of $52.09. U.S. Bancorp has a 1-year low of $43.50 and a 1-year high of $56.61.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.88 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.88. The company had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.60 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. U.S. Bancorp’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the business posted $0.84 earnings per share. On average, analysts forecast that U.S. Bancorp will post $3.42 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.25%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, September 28th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 36.04%.

U.S. Bancorp announced that its Board of Directors has approved a share buyback plan on Wednesday, June 28th that allows the company to buyback $2.60 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

USB has been the topic of a number of research analyst reports. BidaskClub raised U.S. Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Argus raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Thursday, July 20th. Wells Fargo & Company initiated coverage on U.S. Bancorp in a research report on Wednesday, August 9th. They set a “market perform” rating and a $56.00 price target on the stock. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $59.00 price target on shares of U.S. Bancorp in a research report on Friday, August 11th. Four research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $53.56.

About U.S. Bancorp

U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.

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

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