New small-institution positions disclosed
Three institutional investors reported opening new positions in U.S. Bancorp (NYSE:USB) during the second quarter through 13F filings with the Securities and Exchange Commission. Livforsakringsbolaget Skandia Omsesidigt purchased 8,551 shares valued at approximately $520,000, North Star Asset Management Inc. acquired 15,931 shares valued at approximately $962,000, and Field & Main Bank bought 12,300 shares valued at approximately $743,000.
The combined value of the three disclosed new stakes is approximately $2.2 million, a fraction of the multi-billion-dollar positions reported by larger holders in the same filings. Institutional investors collectively own 77.60% of U.S. Bancorp's stock, with insiders holding 0.21%.
Larger holders also reshuffled positions
Beyond the smaller new buyers, several large institutions adjusted U.S. Bancorp holdings across the fourth quarter and first quarter. State Street Corp lifted its stake by 0.8% in the fourth quarter to 69,701,898 shares worth about $3.76 billion, while Geode Capital Management LLC increased its position by 1.2% to 37,679,617 shares valued at about $2.00 billion. Auto Owners Insurance Co boosted its stake by 5,236.0% in the fourth quarter to 33,350,000 shares worth about $1.78 billion.
Other notable changes included Mufg Bank LTD. buying a second-quarter stake worth about $2.68 billion, Norges Bank acquiring a fourth-quarter stake worth about $1.89 billion, and Bank of New York Mellon Corp opening a second-quarter position worth about $536 million. Dimensional Fund Advisors LP raised its stake by 0.9% in the first quarter to 10,369,212 shares worth about $539 million, Principal Financial Group Inc. grew its position by 2.9% in the fourth quarter to 1,769,589 shares worth about $94 million, and ABN Amro Investment Solutions lifted its stake by 7.9% in the fourth quarter to 252,961 shares worth about $13 million.
Recent earnings and trading levels
U.S. Bancorp reported second-quarter earnings on Thursday, July 16th, posting $1.35 in earnings per share, beating the $1.28 consensus estimate by $0.07. Revenue came in at $7.69 billion, above the $7.58 billion analyst expectation. The company delivered a 13.69% return on equity and an 18.49% net margin, compared with $1.11 in EPS during the same period a year earlier. Sell-side analysts forecast full-year EPS of 5.22.
Shares of USB opened at $62.50 on Friday, with a market capitalization of $97.38 billion, a price-to-earnings ratio of 12.48, and a beta of 0.96. The 12-month trading range spanned a $45.02 low to a $66.07 high, against a 50-day simple moving average of $62.84 and a 200-day simple moving average of $57.75.
Dividend payment and insider sale
U.S. Bancorp paid a quarterly dividend of $0.52 per share on Wednesday, July 15th, to stockholders of record on Tuesday, June 30th. The payout represents a $2.08 annualized dividend and a 3.3% yield, with a dividend payout ratio of 41.52%.
Insider Stephen L. Philipson sold 36,906 shares on Monday, July 20th, at an average price of $63.08, for a total transaction of $2,328,030.48. Following the sale, Philipson held 74,969 shares valued at approximately $4.73 million, a 32.99% reduction in his prior holding.
Next verifiable milestone
Investors will look to U.S. Bancorp's next scheduled quarterly earnings release for any updated guidance on EPS, revenue, and capital return measures, alongside subsequent 13F disclosures tracking further shifts in institutional ownership.
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