New Century Financial Group LLC Has $439,000 Stock Holdings in U.S. Bancorp (NYSE:USB)

New Century Financial Group LLC lifted its holdings in shares of U.S. Bancorp (NYSE:USB) by 5.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 9,594 shares of the financial services provider’s stock after acquiring an additional 457 shares during the period. New Century Financial Group LLC’s holdings in U.S. Bancorp were worth $439,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Valmark Advisers Inc. lifted its position in U.S. Bancorp by 2.9% during the 2nd quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock worth $346,000 after buying an additional 242 shares in the last quarter. Waldron Private Wealth LLC increased its position in shares of 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 acquiring an additional 247 shares during the last quarter. Naples Global Advisors LLC raised its holdings in U.S. Bancorp by 0.4% during the second quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock worth $2,624,000 after acquiring an additional 248 shares in the last quarter. Kavar Capital Partners Group LLC boosted its position in U.S. Bancorp by 4.7% during 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 purchasing an additional 250 shares during the last quarter. Finally, STAR Financial Bank grew its stake 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 purchasing an additional 250 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

USB has been the topic of a number of analyst reports. Citigroup upped their price objective on U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a research report on Thursday. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $54.00 to $57.00 in a report on Monday, September 30th. Jefferies Financial Group reduced their price target on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. Finally, Oppenheimer upped their price objective on U.S. Bancorp from $57.00 to $59.00 and gave the company an “outperform” rating in a research note on Thursday. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $50.71.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock opened at $49.16 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $76.71 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $50.47. The company has a 50-day simple moving average of $45.24 and a two-hundred day simple moving average of $42.66.

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

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.50 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. This represents a $2.00 annualized dividend and a yield of 4.07%. U.S. Bancorp’s dividend payout ratio is currently 66.23%.

U.S. Bancorp announced that its board has authorized a stock repurchase program on Thursday, September 12th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are 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.