U.S. Bancorp (NYSE:USB) Shares Purchased by Signaturefd LLC

Signaturefd LLC raised its holdings in U.S. Bancorp (NYSE:USB) by 9.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,099 shares of the financial services provider’s stock after purchasing an additional 1,829 shares during the period. Signaturefd LLC’s holdings in U.S. Bancorp were worth $1,011,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Redwood Wealth Management Group LLC bought a new position in U.S. Bancorp during the 2nd quarter valued at $25,000. 1620 Investment Advisors Inc. bought a new stake in shares of U.S. Bancorp in the 2nd quarter worth about $30,000. Eagle Bay Advisors LLC raised its stake in shares of U.S. Bancorp by 93.2% in the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 331 shares in the last quarter. LRI Investments LLC bought a new position in shares of U.S. Bancorp during the first quarter worth about $31,000. Finally, Y.D. More Investments Ltd bought a new stake in U.S. Bancorp in the second quarter valued at about $33,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

USB has been the topic of a number of research analyst reports. Royal Bank of Canada set a $53.00 target price on U.S. Bancorp in a report on Thursday, October 17th. Stephens boosted their target price 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 raised their price target on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Citigroup boosted their price objective on shares of U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Finally, Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $54.00 to $57.00 in a research note on Monday, September 30th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $50.71.

U.S. Bancorp Stock Up 1.0 %

USB stock opened at $48.53 on Thursday. The firm’s 50-day moving average is $45.61 and its two-hundred day moving average is $42.77. The company has a market capitalization of $75.73 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $50.47. 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 announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The firm had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter in the previous year, the company earned $1.05 earnings per share. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, analysts forecast that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.50 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s payout ratio is presently 66.23%.

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

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the transaction, the insider now owns 129,790 shares in the company, valued at approximately $6,363,603.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Company 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.