Farther Finance Advisors LLC Acquires 4,976 Shares of U.S. Bancorp (NYSE:USB)

Farther Finance Advisors LLC grew its holdings in U.S. Bancorp (NYSE:USB) by 55.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,937 shares of the financial services provider’s stock after purchasing an additional 4,976 shares during the period. Farther Finance Advisors LLC’s holdings in U.S. Bancorp were worth $637,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Cambiar Investors LLC bought a new stake in shares of U.S. Bancorp in the third quarter valued at approximately $43,619,000. Shepherd Financial Partners LLC grew its stake in U.S. Bancorp by 8.2% during the third quarter. Shepherd Financial Partners LLC now owns 16,186 shares of the financial services provider’s stock valued at $740,000 after acquiring an additional 1,223 shares in the last quarter. Values Added Financial LLC purchased a new position in U.S. Bancorp during the third quarter valued at approximately $212,000. Creative Financial Designs Inc. ADV grew its stake in U.S. Bancorp by 1.2% during the third quarter. Creative Financial Designs Inc. ADV now owns 64,298 shares of the financial services provider’s stock valued at $2,940,000 after acquiring an additional 732 shares in the last quarter. Finally, Focus Financial Network Inc. grew its stake in U.S. Bancorp by 2.3% during the third quarter. Focus Financial Network Inc. now owns 64,317 shares of the financial services provider’s stock valued at $2,973,000 after acquiring an additional 1,473 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the sale, the insider now owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock opened at $47.62 on Wednesday. The firm has a market cap of $74.31 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 2.83 and a beta of 1.02. U.S. Bancorp has a 12-month low of $33.61 and a 12-month high of $50.47. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The company’s fifty day simple moving average is $46.30 and its two-hundred day simple moving average is $43.19.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The company’s revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.05 EPS. As a group, equities analysts expect that U.S. Bancorp will post 3.92 EPS for the current year.

U.S. Bancorp announced that its board has approved a stock buyback 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 purchase up to 7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.20%. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio (DPR) is 61.16%.

Analysts Set New Price Targets

Several brokerages recently commented on USB. Stephens boosted their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. DA Davidson boosted their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Evercore ISI boosted their price objective on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $54.00 to $57.00 in a report on Monday, September 30th. Finally, Wells Fargo & Company increased their price target on shares of U.S. Bancorp from $52.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $51.12.

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.