U.S. Bancorp (NYSE:USB) Shares Purchased by Pittenger & Anderson Inc.

Pittenger & Anderson Inc. lifted its holdings in U.S. Bancorp (NYSE:USB) by 9.7% in the third quarter, Holdings Channel reports. The firm owned 2,825 shares of the financial services provider’s stock after buying an additional 250 shares during the period. Pittenger & Anderson Inc.’s holdings in U.S. Bancorp were worth $129,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in USB. Redwood Wealth Management Group LLC acquired a new stake in shares of U.S. Bancorp in the 2nd quarter worth $25,000. 1620 Investment Advisors Inc. acquired a new stake in U.S. Bancorp during the 2nd quarter worth about $30,000. Eagle Bay Advisors LLC lifted its position in U.S. Bancorp by 93.2% during the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 331 shares during the period. LRI Investments LLC acquired a new stake in U.S. Bancorp during the 1st quarter worth about $31,000. Finally, Y.D. More Investments Ltd acquired a new stake in U.S. Bancorp during the 2nd quarter worth about $33,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

USB has been the subject of a number of research reports. Barclays lifted their price target on U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a research report on Thursday, October 17th. Evercore ISI lifted their price objective on U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lowered U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective for the company. in a research note on Thursday, October 24th. Finally, StockNews.com upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Thirteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, U.S. Bancorp currently has an average rating of “Hold” and a consensus price target of $51.12.

Insider Transactions at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the transaction, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Up 0.9 %

USB stock opened at $47.62 on Wednesday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a 12-month low of $33.61 and a 12-month high of $50.47. The stock has a market cap of $74.31 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 2.83 and a beta of 1.02. The business’s 50-day moving average is $46.30 and its 200 day moving average is $43.19.

U.S. Bancorp (NYSE:USB) last posted 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 company had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the previous year, the firm posted $1.05 EPS. U.S. Bancorp’s revenue was down 2.4% compared to the same quarter last year. On average, sell-side analysts anticipate that U.S. Bancorp will post 3.92 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.50 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 4.20%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s payout ratio is currently 61.16%.

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

About U.S. Bancorp

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.