IQ EQ FUND MANAGEMENT IRELAND Ltd Raises Holdings in U.S. Bancorp (NYSE:USB)

IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in shares of U.S. Bancorp (NYSE:USB) by 7.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,505 shares of the financial services provider’s stock after acquiring an additional 4,943 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in U.S. Bancorp were worth $3,178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in U.S. Bancorp by 0.4% during the 1st 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 during the period. Davis Selected Advisers boosted its holdings 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 valued at $564,869,000 after acquiring an additional 43,437 shares during the period. Bank of New York Mellon Corp boosted its holdings in U.S. Bancorp by 0.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,312,930 shares of the financial services provider’s stock valued at $528,523,000 after acquiring an additional 94,841 shares during the period. Legal & General Group Plc boosted its holdings in U.S. Bancorp by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock valued at $491,364,000 after acquiring an additional 325,374 shares during the period. Finally, Van ECK Associates Corp raised its position in U.S. Bancorp by 2.9% during the 2nd quarter. Van ECK Associates Corp now owns 9,478,454 shares of the financial services provider’s stock valued at $376,295,000 after purchasing an additional 271,078 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Up 4.7 %

USB stock opened at $49.21 on Thursday. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $50.11. 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 firm has a market cap of $76.78 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03. The business has a 50 day moving average of $44.94 and a 200 day moving average of $42.58.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.81 billion. During the same quarter last year, the company earned $1.12 EPS. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. On average, research analysts forecast that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp declared that its board has authorized a share buyback plan on Thursday, September 12th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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. This represents a $2.00 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio (DPR) is 66.23%.

Wall Street Analyst Weigh In

USB has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price target on U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Evercore ISI upped their price target on U.S. Bancorp from $49.00 to $51.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. DA Davidson upped their price target on U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $48.00 price target on shares of U.S. Bancorp in a research report on Friday, September 13th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $49.14.

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.