Covestor Ltd Increases Stake in U.S. Bancorp (NYSE:USB)

Covestor Ltd boosted its stake in U.S. Bancorp (NYSE:USB) by 15.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,741 shares of the financial services provider’s stock after purchasing an additional 230 shares during the quarter. Covestor Ltd’s holdings in U.S. Bancorp were worth $80,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of USB. McAdam LLC boosted its position in shares of U.S. Bancorp by 2.5% during the third quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock worth $389,000 after buying an additional 209 shares during the period. Valmark Advisers Inc. boosted 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 acquiring an additional 242 shares during the period. Phillips Wealth Planners LLC grew its stake in shares of U.S. Bancorp by 2.1% in the third quarter. Phillips Wealth Planners LLC now owns 12,056 shares of the financial services provider’s stock worth $593,000 after purchasing an additional 243 shares in the last quarter. Waldron Private Wealth LLC increased its holdings in shares of U.S. Bancorp by 1.9% during the second quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock valued at $534,000 after purchasing an additional 247 shares during the period. Finally, Naples Global Advisors LLC raised its stake in shares of 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 valued at $2,624,000 after purchasing an additional 248 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada set a $53.00 target price on shares of U.S. Bancorp in a research report on Thursday, October 17th. Stephens raised their price objective 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. UBS Group upped their target price on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $54.00 to $57.00 in a research report on Monday, September 30th. Finally, The Goldman Sachs Group cut their price objective on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Thirteen investment 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, the stock has an average rating of “Hold” and an average price target of $51.12.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction on 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 sale, the insider now owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $51.17 on Thursday. The company’s fifty day moving average is $46.69 and its two-hundred day moving average is $43.53. The company has a market cap of $79.83 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 2.99 and a beta of 1.02. U.S. Bancorp has a 12-month low of $35.02 and a 12-month high of $51.76. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the prior year, the business earned $1.05 EPS. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. Equities analysts expect that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business 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. The ex-dividend date was Monday, September 30th. This is an increase 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 3.91%. U.S. Bancorp’s payout ratio is presently 61.16%.

U.S. Bancorp announced that its Board of Directors has initiated a stock buyback plan on Thursday, September 12th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock buyback plans are often an indication 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.