Pathway Financial Advisers LLC Boosts Holdings in U.S. Bancorp (NYSE:USB)

Pathway Financial Advisers LLC grew its position in U.S. Bancorp (NYSE:USB) by 16.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,317 shares of the financial services provider’s stock after buying an additional 3,406 shares during the period. Pathway Financial Advisers LLC’s holdings in U.S. Bancorp were worth $1,112,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of U.S. Bancorp by 0.8% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,686,118 shares of the financial services provider’s stock worth $164,769,000 after purchasing an additional 30,922 shares during the period. State of Alaska Department of Revenue boosted its position in shares of U.S. Bancorp by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 168,948 shares of the financial services provider’s stock worth $7,551,000 after purchasing an additional 815 shares during the period. Cornerstone Wealth Management LLC boosted its position in shares of U.S. Bancorp by 3.7% during the 1st quarter. Cornerstone Wealth Management LLC now owns 37,790 shares of the financial services provider’s stock worth $1,689,000 after purchasing an additional 1,353 shares during the period. First Trust Direct Indexing L.P. boosted its position in shares of U.S. Bancorp by 23.9% during the 1st quarter. First Trust Direct Indexing L.P. now owns 37,007 shares of the financial services provider’s stock worth $1,654,000 after purchasing an additional 7,131 shares during the period. Finally, FORVIS Wealth Advisors LLC boosted its position in shares of U.S. Bancorp by 12.2% during the 1st quarter. FORVIS Wealth Advisors LLC now owns 16,456 shares of the financial services provider’s stock worth $736,000 after purchasing an additional 1,786 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $48.69 on Thursday. The company’s fifty day moving average price is $46.10 and its 200 day moving average price is $42.97. U.S. Bancorp has a 12 month low of $30.88 and a 12 month high of $50.47. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $75.98 billion, a P/E ratio of 14.89, a P/E/G ratio of 2.85 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last announced its quarterly 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 net margin of 12.92% and a return on equity of 12.91%. The firm had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same period last year, the business earned $1.05 EPS. U.S. Bancorp’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, sell-side analysts predict that U.S. Bancorp will post 3.9 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid 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 annualized dividend and a yield of 4.11%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 61.16%.

U.S. Bancorp declared that its board has approved a share repurchase plan on Thursday, September 12th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. UBS Group increased their price objective on shares of 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 raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $54.00 to $57.00 in a research report on Monday, September 30th. Royal Bank of Canada set a $53.00 price target on shares of U.S. Bancorp in a research report on Thursday, October 17th. Barclays raised their price target on shares of U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $50.87.

Insider Buying and Selling

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 value of $1,225,750.00. Following the transaction, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.