Massmutual Trust Co. FSB ADV Acquires 3,294 Shares of U.S. Bancorp (NYSE:USB)

Massmutual Trust Co. FSB ADV boosted its holdings in shares of U.S. Bancorp (NYSE:USB) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 107,882 shares of the financial services provider’s stock after buying an additional 3,294 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in U.S. Bancorp were worth $4,933,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in USB. Redwood Wealth Management Group LLC purchased a new position in shares of U.S. Bancorp in the second quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of U.S. Bancorp in the first quarter worth about $30,000. LRI Investments LLC bought a new stake in shares of U.S. Bancorp in the first quarter worth about $31,000. Eagle Bay Advisors LLC grew its stake 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 purchasing an additional 331 shares during the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in shares of U.S. Bancorp in the second quarter worth about $30,000. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $43.98 on Friday. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $47.31. The firm has a market cap of $68.63 billion, a P/E ratio of 14.56, a PEG ratio of 3.06 and a beta of 1.03. The company has a 50 day moving average of $44.49 and a 200 day moving average of $42.45. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05.

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 for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $6.81 billion. During the same period in the previous year, the business earned $1.12 EPS. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, research analysts expect that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business 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 is Monday, September 30th. This is a positive change 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 4.55%. U.S. Bancorp’s payout ratio is currently 66.23%.

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

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Evercore ISI raised their target price on U.S. Bancorp from $49.00 to $51.00 and gave the stock an “in-line” rating in a research note on Wednesday. Royal Bank of Canada reissued an “outperform” rating and issued a $48.00 target price on shares of U.S. Bancorp in a research note on Friday, September 13th. UBS Group lifted their price objective on U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Oppenheimer lifted their price objective on U.S. Bancorp from $54.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Citigroup lifted their price objective on U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $48.65.

Insider Buying and Selling at U.S. Bancorp

In related news, Director Aleem Gillani bought 10,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was acquired at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $449,900. The acquisition was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.23% of the company’s stock.

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.