AE Wealth Management LLC Acquires 14,037 Shares of U.S. Bancorp (NYSE:USB)

AE Wealth Management LLC increased its holdings in shares of U.S. Bancorp (NYSE:USB) by 3.6% during the second quarter, Holdings Channel.com reports. The firm owned 403,573 shares of the financial services provider’s stock after buying an additional 14,037 shares during the period. AE Wealth Management LLC’s holdings in U.S. Bancorp were worth $16,022,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Redwood Wealth Management Group LLC acquired a new stake in U.S. Bancorp in the second quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in U.S. Bancorp in the first quarter valued at approximately $30,000. 1620 Investment Advisors Inc. acquired a new stake in U.S. Bancorp in the second quarter valued at approximately $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 worth $31,000 after buying an additional 331 shares during the last quarter. Finally, LRI Investments LLC purchased a new position in shares of U.S. Bancorp in the first quarter worth $31,000. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Stock Performance

USB opened at $46.01 on Friday. The firm has a market capitalization of $71.80 billion, a PE ratio of 15.24, a PEG ratio of 4.36 and a beta of 1.04. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $47.31. The firm’s 50-day moving average price is $44.39 and its 200 day moving average price is $42.32. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. The firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. U.S. Bancorp’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.12 earnings per share. As a group, sell-side analysts expect that U.S. Bancorp will post 3.87 EPS for the current fiscal year.

U.S. Bancorp declared that its Board of Directors has approved a share repurchase program on Thursday, September 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a yield of 4.35%. U.S. Bancorp’s payout ratio is 66.23%.

Insiders Place Their Bets

In other news, Director Aleem Gillani bought 10,000 shares of U.S. Bancorp stock in a transaction on Thursday, July 18th. The shares were bought at an average cost of $44.99 per share, with a total value of $449,900.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $449,900. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

USB has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price target on shares of U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $48.00 price target on shares of U.S. Bancorp in a report on Friday, September 13th. StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. The Goldman Sachs Group reduced their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Finally, JPMorgan Chase & Co. cut shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price for the company. in a report on Thursday, June 27th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $48.18.

U.S. Bancorp Company 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.