U.S. Bancorp (NYSE:USB) Shares Acquired by Alley Investment Management Company LLC

Alley Investment Management Company LLC increased its stake in shares of U.S. Bancorp (NYSE:USB) by 1.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,721 shares of the financial services provider’s stock after purchasing an additional 1,530 shares during the quarter. Alley Investment Management Company LLC’s holdings in U.S. Bancorp were worth $5,309,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of USB. Redwood Wealth Management Group LLC acquired a new position in shares of U.S. Bancorp during the second quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. acquired a new position in U.S. Bancorp during the 1st quarter worth approximately $30,000. 1620 Investment Advisors Inc. purchased a new stake in shares of U.S. Bancorp in the 2nd quarter valued at approximately $30,000. Eagle Bay Advisors LLC lifted its position in shares of U.S. Bancorp by 93.2% during the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 331 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in shares of U.S. Bancorp during the first quarter worth $31,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Down 0.5 %

NYSE:USB opened at $45.63 on Wednesday. U.S. Bancorp has a 12-month low of $30.47 and a 12-month high of $47.31. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. The stock’s 50 day simple moving average is $44.51 and its 200-day simple moving average is $42.34. The firm has a market cap of $71.21 billion, a P/E ratio of 15.11, a PEG ratio of 3.06 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The company had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.81 billion. U.S. Bancorp’s revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.12 EPS. Equities analysts anticipate that U.S. Bancorp will post 3.86 EPS for the current year.

U.S. Bancorp announced that its Board of Directors has approved a stock buyback plan on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.50 dividend. The ex-dividend date is Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.38%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani bought 10,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was acquired at an average cost of $44.99 per share, with a total value of $449,900.00. Following the purchase, the director now owns 10,000 shares in the company, valued at approximately $449,900. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on USB. Citigroup raised their price target on U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. DA Davidson boosted their target price on U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Morgan Stanley increased their price target on shares of U.S. Bancorp from $47.00 to $54.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. UBS Group boosted their price objective on shares of U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Finally, 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 research note on Wednesday, July 3rd. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $48.18.

About U.S. Bancorp

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.