Mackenzie Financial Corp Has $5.74 Million Stock Position in U.S. Bancorp (NYSE:USB)

Mackenzie Financial Corp cut its stake in shares of U.S. Bancorp (NYSE:USB) by 3.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 144,460 shares of the financial services provider’s stock after selling 5,208 shares during the period. Mackenzie Financial Corp’s holdings in U.S. Bancorp were worth $5,735,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Valmark Advisers Inc. raised its position in U.S. Bancorp by 2.9% in the second quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock valued at $346,000 after purchasing an additional 242 shares during the last quarter. Waldron Private Wealth LLC boosted its position in U.S. Bancorp by 1.9% during the 2nd quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock worth $534,000 after buying an additional 247 shares during the period. Naples Global Advisors LLC grew its holdings in U.S. Bancorp by 0.4% during the 2nd quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock worth $2,624,000 after acquiring an additional 248 shares during the last quarter. Kavar Capital Partners Group LLC increased its position in U.S. Bancorp by 4.7% in the 2nd quarter. Kavar Capital Partners Group LLC now owns 5,555 shares of the financial services provider’s stock valued at $221,000 after acquiring an additional 250 shares during the period. Finally, STAR Financial Bank raised its stake in shares of U.S. Bancorp by 3.3% during the second quarter. STAR Financial Bank now owns 7,772 shares of the financial services provider’s stock valued at $309,000 after acquiring an additional 250 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were acquired at an average price of $44.99 per share, with a total value of $449,900.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $449,900. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Stock Up 1.6 %

Shares of NYSE:USB opened at $45.73 on Tuesday. The firm has a market cap of $71.36 billion, a P/E ratio of 15.14, a PEG ratio of 3.06 and a beta of 1.04. U.S. Bancorp has a 52-week low of $30.47 and a 52-week high of $47.31. The business’s 50 day simple moving average is $44.54 and its two-hundred day simple moving average is $42.40. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. The company had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. U.S. Bancorp’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the business earned $1.12 EPS. As a group, research analysts forecast that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp announced that its board has initiated a stock buyback program on Thursday, September 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.50 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date is Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 66.23%.

Wall Street Analyst Weigh In

USB has been the subject of a number of recent research reports. The Goldman Sachs Group decreased their price objective on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. DA Davidson lifted their price objective 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. Evercore ISI increased their price objective on shares of U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. Finally, Jefferies Financial Group dropped their target price on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $48.34.

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.