Brighton Jones LLC Acquires 15,531 Shares of U.S. Bancorp (NYSE:USB)

Brighton Jones LLC grew its holdings in shares of U.S. Bancorp (NYSE:USB) by 55.8% during the second quarter, Holdings Channel reports. The firm owned 43,343 shares of the financial services provider’s stock after purchasing an additional 15,531 shares during the period. Brighton Jones LLC’s holdings in U.S. Bancorp were worth $1,721,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Valmark Advisers Inc. lifted its holdings 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 buying an additional 242 shares during the period. Waldron Private Wealth LLC lifted its holdings in U.S. Bancorp by 1.9% in the second quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock valued at $534,000 after buying an additional 247 shares during the period. Naples Global Advisors LLC lifted its holdings in U.S. Bancorp by 0.4% in the second quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock valued at $2,624,000 after buying an additional 248 shares during the period. Kavar Capital Partners Group LLC lifted its holdings in U.S. Bancorp by 4.7% in the second quarter. Kavar Capital Partners Group LLC now owns 5,555 shares of the financial services provider’s stock valued at $221,000 after buying an additional 250 shares during the period. Finally, STAR Financial Bank lifted its holdings in U.S. Bancorp by 3.3% in the second quarter. STAR Financial Bank now owns 7,772 shares of the financial services provider’s stock valued at $309,000 after buying an additional 250 shares during the period. Institutional investors own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on USB. DA Davidson increased their target price on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. UBS Group increased their target price on shares of U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. lowered shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price on the stock. in a report on Thursday, June 27th. Finally, Evercore ISI increased their target price on shares of U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a report on Tuesday, June 25th. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $48.18.

U.S. Bancorp Stock Down 1.0 %

U.S. Bancorp stock opened at $46.01 on Friday. The company has a market cap of $71.80 billion, a P/E ratio of 15.24, a price-to-earnings-growth ratio of 4.36 and a beta of 1.04. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $47.31. The company has a fifty day simple moving average of $44.39 and a 200 day simple moving average of $42.32. 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 released its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. The business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The firm’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.12 earnings per share. Research analysts anticipate that U.S. Bancorp will post 3.87 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.50 dividend. The ex-dividend date is Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.35%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio (DPR) is currently 66.23%.

U.S. Bancorp announced that its Board of Directors has approved a share repurchase plan 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 plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at U.S. Bancorp

In other news, Director Aleem Gillani purchased 10,000 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was purchased at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $449,900. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

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.