Bleakley Financial Group LLC Purchases 3,383 Shares of U.S. Bancorp (NYSE:USB)

Bleakley Financial Group LLC raised its position in U.S. Bancorp (NYSE:USB) by 8.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,122 shares of the financial services provider’s stock after acquiring an additional 3,383 shares during the period. Bleakley Financial Group LLC’s holdings in U.S. Bancorp were worth $2,018,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Inlet Private Wealth LLC purchased a new position in U.S. Bancorp during the 3rd quarter worth $220,000. Armstrong Fleming & Moore Inc acquired a new stake in U.S. Bancorp in the third quarter worth about $220,000. Mitchell & Pahl Private Wealth LLC grew its stake in shares of U.S. Bancorp by 3.6% during the third quarter. Mitchell & Pahl Private Wealth LLC now owns 43,957 shares of the financial services provider’s stock worth $2,010,000 after acquiring an additional 1,507 shares during the last quarter. nVerses Capital LLC increased its holdings in shares of U.S. Bancorp by 44.8% during the third quarter. nVerses Capital LLC now owns 4,200 shares of the financial services provider’s stock valued at $192,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Probity Advisors Inc. raised its position in shares of U.S. Bancorp by 2.5% in the 3rd quarter. Probity Advisors Inc. now owns 27,531 shares of the financial services provider’s stock valued at $1,259,000 after purchasing an additional 672 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock opened at $49.16 on Friday. The firm has a market cap of $76.71 billion, a PE ratio of 16.28, a P/E/G ratio of 3.32 and a beta of 1.03. The business has a 50-day moving average price of $45.24 and a 200 day moving average price of $42.66. 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 has a twelve month low of $30.47 and a twelve month high of $50.47.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The business had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the prior year, the company posted $1.05 EPS. The business’s quarterly revenue was down 2.4% on a year-over-year basis. Sell-side analysts predict that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

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

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.07%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 66.23%.

Analysts Set New Price Targets

Several analysts have weighed in on USB shares. Royal Bank of Canada set a $53.00 target price on shares of U.S. Bancorp in a research report on Thursday. Evercore ISI upped their target price on U.S. Bancorp from $49.00 to $51.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a research report on Thursday. DA Davidson boosted their price target on U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, StockNews.com upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $50.71.

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.