Lincoln National Corp Has $1.46 Million Position in U.S. Bancorp (NYSE:USB)

Lincoln National Corp raised its position in U.S. Bancorp (NYSE:USB) by 5.8% in the 2nd quarter, Holdings Channel reports. The firm owned 25,692 shares of the financial services provider’s stock after buying an additional 1,417 shares during the period. Lincoln National Corp’s holdings in U.S. Bancorp were worth $1,463,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC increased its position in shares of U.S. Bancorp by 2.8% during the second quarter. Geode Capital Management LLC now owns 22,047,146 shares of the financial services provider’s stock worth $1,252,627,000 after acquiring an additional 608,791 shares in the last quarter. Davis Selected Advisers grew its position in U.S. Bancorp by 7.7% in the first quarter. Davis Selected Advisers now owns 18,170,271 shares of the financial services provider’s stock valued at $1,004,998,000 after purchasing an additional 1,296,831 shares in the last quarter. Bank of New York Mellon Corp grew its position in U.S. Bancorp by 5.4% in the second quarter. Bank of New York Mellon Corp now owns 13,436,088 shares of the financial services provider’s stock valued at $765,453,000 after purchasing an additional 686,764 shares in the last quarter. Ameriprise Financial Inc. grew its position in U.S. Bancorp by 22.2% in the first quarter. Ameriprise Financial Inc. now owns 12,478,633 shares of the financial services provider’s stock valued at $690,275,000 after purchasing an additional 2,267,492 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in U.S. Bancorp by 3.8% in the first quarter. Franklin Resources Inc. now owns 11,343,445 shares of the financial services provider’s stock valued at $627,402,000 after purchasing an additional 415,910 shares in the last quarter. 73.80% of the stock is owned by institutional investors.

USB opened at $61.46 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.76 and a quick ratio of 0.74. U.S. Bancorp has a fifty-two week low of $36.57 and a fifty-two week high of $63.00. The firm has a market capitalization of $91.12 billion, a PE ratio of 13.16, a P/E/G ratio of 1.71 and a beta of 1.14. The company’s 50-day moving average is $58.03 and its 200 day moving average is $57.98.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, October 14th. The financial services provider reported $1.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.16 by $0.14. The firm had revenue of $5.89 billion during the quarter, compared to analyst estimates of $5.76 billion. U.S. Bancorp had a net margin of 29.83% and a return on equity of 15.18%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the business posted $0.99 EPS. As a group, analysts expect that U.S. Bancorp will post 5 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Thursday, September 30th will be paid a $0.46 dividend. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Wednesday, September 29th. This represents a $1.84 annualized dividend and a yield of 2.99%. U.S. Bancorp’s dividend payout ratio (DPR) is 60.13%.

A number of research analysts recently weighed in on the stock. Credit Suisse Group raised their target price on shares of U.S. Bancorp from $60.00 to $61.00 and gave the company a “neutral” rating in a research report on Wednesday, September 22nd. Odeon Capital Group cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, July 19th. Oppenheimer raised their target price on shares of U.S. Bancorp from $70.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, July 16th. Jefferies Financial Group lifted their price objective on shares of U.S. Bancorp from $66.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Barclays lifted their price objective on shares of U.S. Bancorp from $65.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, July 16th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, U.S. Bancorp currently has a consensus rating of “Buy” and an average target price of $63.10.

About U.S. Bancorp

U.S. Bancorp operates as a bank holding company, which offers financial services including lending and depository services, cash management, foreign exchange and trust and investment management. The firm also offers mortgage, refinance, auto, boat and RV loans, credit lines, credit card services, merchant, bank, checking and savings accounts, debit cards, online and mobile banking, ATM processing, mortgage banking, insurance, brokerage and leasing services.

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

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