U.S. Bancorp (NYSE:USB) Shares Acquired by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC boosted its position in U.S. Bancorp (NYSE:USB) by 4.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,514 shares of the financial services provider’s stock after buying an additional 477 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in U.S. Bancorp were worth $527,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Redwood Wealth Management Group LLC acquired a new position in shares of U.S. Bancorp in the second quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of U.S. Bancorp in the 1st quarter valued at approximately $30,000. 1620 Investment Advisors Inc. purchased a new position in shares of U.S. Bancorp during the 2nd quarter valued at approximately $30,000. Eagle Bay Advisors LLC grew its position in shares of U.S. Bancorp by 93.2% during 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 in the last quarter. Finally, LRI Investments LLC bought a new stake in shares of U.S. Bancorp in the first quarter worth $31,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Performance

USB opened at $49.98 on Friday. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $50.47. The stock has a market cap of $77.99 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03. The business’s 50 day moving average is $45.10 and its 200-day moving average is $42.63. 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 issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. The company had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the company earned $1.05 earnings per share. On average, analysts predict that U.S. Bancorp will post 3.86 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.50 dividend. 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 dividend yield of 4.00%. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s dividend payout ratio is currently 66.23%.

U.S. Bancorp announced that its board has authorized a share repurchase 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 purchase up to 7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have commented on USB. Jefferies Financial Group reduced their price objective 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. Wells Fargo & Company upped their price objective on U.S. Bancorp from $52.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday. Evercore ISI lifted their target price on U.S. Bancorp from $49.00 to $51.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. UBS Group upped their price target 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. Finally, Barclays lifted their price objective on shares of U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday. 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, the company currently has a consensus rating of “Hold” and a consensus price target of $50.34.

U.S. Bancorp 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.