6,322 Shares in U.S. Bancorp (NYSE:USB) Bought by Vest Financial LLC

Vest Financial LLC bought a new position in U.S. Bancorp (NYSE:USB) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 6,322 shares of the financial services provider’s stock, valued at approximately $289,000.

A number of other large investors have also recently added to or reduced their stakes in USB. Brookstone Capital Management grew its holdings in shares of U.S. Bancorp by 2,056.5% during the first quarter. Brookstone Capital Management now owns 218,668 shares of the financial services provider’s stock worth $9,774,000 after buying an additional 208,528 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in U.S. Bancorp during the 2nd quarter worth approximately $20,188,000. Mission Wealth Management LP grew its stake in shares of U.S. Bancorp by 200.7% during the 1st quarter. Mission Wealth Management LP now owns 18,273 shares of the financial services provider’s stock worth $817,000 after acquiring an additional 12,197 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of U.S. Bancorp by 6.4% in the first quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock valued at $12,363,000 after purchasing an additional 16,686 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of U.S. Bancorp by 90.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 862,317 shares of the financial services provider’s stock worth $36,676,000 after purchasing an additional 409,192 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $47.93 on Tuesday. The company has a market capitalization of $74.79 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 3.32 and a beta of 1.03. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $50.47. The company has a 50-day simple moving average of $45.37 and a 200 day simple moving average of $42.69.

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

U.S. Bancorp Increases Dividend

The company also recently disclosed 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 4.17%. This is a positive change 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 is currently 66.23%.

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

Analyst Ratings Changes

A number of research firms recently weighed in on USB. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $54.00 to $57.00 in a research report on Monday, September 30th. Citigroup raised their price objective on 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 set a $53.00 target price on U.S. Bancorp in a report on Thursday. 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 research report on Wednesday, July 3rd. Finally, Evercore ISI boosted their price target on U.S. Bancorp from $49.00 to $51.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Hold” and a consensus price target of $50.71.

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.23% of the company’s stock.

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.