Kennebec Savings Bank Invests $68,000 in U.S. Bancorp (NYSE:USB)

Kennebec Savings Bank acquired a new position in shares of U.S. Bancorp (NYSE:USBFree Report) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 1,481 shares of the financial services provider’s stock, valued at approximately $68,000.

Other large investors have also modified their holdings of the company. Redwood Wealth Management Group LLC bought a new stake in shares of U.S. Bancorp during the 2nd quarter worth $25,000. LRI Investments LLC acquired a new stake in shares of U.S. Bancorp in the first quarter worth $31,000. Eagle Bay Advisors LLC boosted its position in shares of U.S. Bancorp by 93.2% in the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after buying an additional 331 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in shares of U.S. Bancorp in the second quarter worth $30,000. Finally, Y.D. More Investments Ltd acquired a new stake in shares of U.S. Bancorp in the second quarter worth $33,000. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Price Performance

NYSE USB opened at $51.04 on Tuesday. U.S. Bancorp has a fifty-two week low of $33.61 and a fifty-two week high of $51.76. The stock’s 50-day moving average is $46.52 and its two-hundred day moving average is $43.39. 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 cap of $79.62 billion, a P/E ratio of 15.61, a price-to-earnings-growth ratio of 2.96 and a beta of 1.02.

U.S. Bancorp (NYSE:USBGet Free Report) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating 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 analyst estimates of $6.90 billion. During the same period last year, the company earned $1.05 earnings per share. The business’s revenue was down 2.4% compared to the same quarter last year. On average, analysts anticipate that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.50 dividend. The ex-dividend date was Monday, September 30th. 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 dividend yield of 3.92%. U.S. Bancorp’s payout ratio is presently 61.16%.

U.S. Bancorp declared that its board has approved a share repurchase program 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 purchase up to 7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

USB has been the subject of several recent analyst reports. The Goldman Sachs Group decreased their target price on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Stephens raised their target price on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft cut U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a research report on Thursday, October 24th. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Finally, Robert W. Baird set a $54.00 target price on U.S. Bancorp in a research report on Thursday, October 17th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $51.12.

Check Out Our Latest Stock Report on U.S. Bancorp

Insider Transactions at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction dated Friday, October 18th. The stock was 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 is accessible through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Company Profile

(Free Report)

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.

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Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USBFree Report).

Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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