Metis Global Partners LLC Raises Stock Position in U.S. Bancorp (NYSE:USB)

Metis Global Partners LLC grew its holdings in U.S. Bancorp (NYSE:USB) by 8.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 71,443 shares of the financial services provider’s stock after acquiring an additional 5,827 shares during the quarter. Metis Global Partners LLC’s holdings in U.S. Bancorp were worth $3,267,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of USB. Manning & Napier Advisors LLC purchased a new position in shares of U.S. Bancorp during the 2nd quarter valued at approximately $20,188,000. Janus Henderson Group PLC boosted its stake in shares of U.S. Bancorp by 6.4% during the 1st quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock worth $12,363,000 after acquiring an additional 16,686 shares in the last quarter. Comerica Bank increased its stake in shares of U.S. Bancorp by 11.2% in the 1st quarter. Comerica Bank now owns 564,443 shares of the financial services provider’s stock valued at $25,231,000 after purchasing an additional 56,738 shares in the last quarter. M&G Plc boosted its position in U.S. Bancorp by 73.9% during the second quarter. M&G Plc now owns 314,241 shares of the financial services provider’s stock worth $12,570,000 after purchasing an additional 133,498 shares in the last quarter. Finally, UniSuper Management Pty Ltd grew its holdings in U.S. Bancorp by 1,140.5% in the first quarter. UniSuper Management Pty Ltd now owns 20,382 shares of the financial services provider’s stock valued at $911,000 after purchasing an additional 18,739 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Ratings Changes

USB has been the topic of a number of research analyst reports. Stephens lifted their price target 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. Oppenheimer lifted their target price on shares of U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft cut shares of 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, Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a research report on Thursday, October 17th. Thirteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $51.12.

Insider Buying and Selling 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 shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the sale, the insider now owns 129,790 shares of the company’s stock, valued at $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Stock Down 1.7 %

USB opened at $50.32 on Friday. The stock has a market capitalization of $78.50 billion, a P/E ratio of 15.39, a price-to-earnings-growth ratio of 3.02 and a beta of 1.02. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a one year low of $36.21 and a one year high of $51.76. The business’s 50-day simple moving average is $46.79 and its 200-day simple moving average is $43.58.

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

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.50 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

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

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.