U.S. Bancorp (NYSE:USB) Shares Bought by Goodman Advisory Group LLC

Goodman Advisory Group LLC increased its position in shares of U.S. Bancorp (NYSE:USB) by 0.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,090 shares of the financial services provider’s stock after purchasing an additional 743 shares during the period. U.S. Bancorp accounts for approximately 1.4% of Goodman Advisory Group LLC’s portfolio, making the stock its 21st largest position. Goodman Advisory Group LLC’s holdings in U.S. Bancorp were worth $4,529,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in U.S. Bancorp by 0.4% in the first quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider’s stock valued at $6,051,096,000 after acquiring an additional 502,776 shares in the last quarter. Davis Selected Advisers grew its stake in U.S. Bancorp by 0.3% during the 2nd quarter. Davis Selected Advisers now owns 14,228,444 shares of the financial services provider’s stock worth $564,869,000 after buying an additional 43,437 shares during the last quarter. Bank of New York Mellon Corp increased its position in U.S. Bancorp by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 13,312,930 shares of the financial services provider’s stock worth $528,523,000 after buying an additional 94,841 shares during the period. Legal & General Group Plc lifted its stake in U.S. Bancorp by 2.7% in the second quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock valued at $491,364,000 after buying an additional 325,374 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of U.S. Bancorp by 2.9% in the second quarter. Van ECK Associates Corp now owns 9,478,454 shares of the financial services provider’s stock valued at $376,295,000 after acquiring an additional 271,078 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on USB shares. Wells Fargo & Company lifted their target price on U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. Citigroup lifted their target price on shares of U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Royal Bank of Canada reissued an “outperform” rating and set a $48.00 price target on shares of U.S. Bancorp in a report on Friday, September 13th. DA Davidson lifted their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Finally, StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $48.18.

Insider Buying and Selling at U.S. Bancorp

In other news, Director Aleem Gillani bought 10,000 shares of the firm’s stock in a transaction dated 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 completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at $449,900. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $45.47 on Friday. The firm’s 50-day moving average is $44.53 and its two-hundred day moving average is $42.39. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. The stock has a market capitalization of $70.95 billion, a P/E ratio of 15.06, a P/E/G ratio of 3.06 and a beta of 1.04. U.S. Bancorp has a 12-month low of $30.47 and a 12-month high of $47.31.

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 the consensus estimate 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 business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same period in the prior year, the firm posted $1.12 EPS. The company’s revenue was down 4.3% on a year-over-year basis. Equities 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 will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.50 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend is Monday, September 30th. U.S. Bancorp’s dividend payout ratio is currently 66.23%.

U.S. Bancorp declared that its board has approved a share repurchase program on Thursday, September 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

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.