U.S. Bancorp (NYSE:USB) Shares Acquired by Fmr LLC

Fmr LLC lifted its holdings in shares of U.S. Bancorp (NYSE:USB) by 32.7% during the 3rd quarter, Holdings Channel.com reports. The fund owned 63,913,931 shares of the financial services provider’s stock after buying an additional 15,746,852 shares during the period. Fmr LLC’s holdings in U.S. Bancorp were worth $2,922,784,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. McAdam LLC raised its holdings in U.S. Bancorp by 2.5% during the third quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock worth $389,000 after purchasing an additional 209 shares in the last quarter. Covestor Ltd raised its stake in U.S. Bancorp by 15.2% during the 3rd quarter. Covestor Ltd now owns 1,741 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 230 shares in the last quarter. Valmark Advisers Inc. lifted its position in U.S. Bancorp by 2.9% in the second quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock valued at $346,000 after acquiring an additional 242 shares during the last quarter. Phillips Wealth Planners LLC boosted its stake in U.S. Bancorp by 2.1% in the third quarter. Phillips Wealth Planners LLC now owns 12,056 shares of the financial services provider’s stock valued at $593,000 after acquiring an additional 243 shares in the last quarter. Finally, Waldron Private Wealth LLC grew its holdings in shares of U.S. Bancorp by 1.9% during the second quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock worth $534,000 after purchasing an additional 247 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Up 2.2 %

NYSE:USB opened at $53.63 on Tuesday. U.S. Bancorp has a 1 year low of $36.49 and a 1 year high of $53.93. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a fifty day moving average price of $47.81 and a two-hundred day moving average price of $44.15. The stock has a market capitalization of $83.66 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 3.10 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. The business had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business’s revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.05 EPS. As a group, sell-side analysts anticipate that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

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

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders 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 dividend yield of 3.73%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

Insider Buying and Selling

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the transaction, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

USB has been the subject of several research reports. Robert W. Baird set a $54.00 target price on U.S. Bancorp in a report on Thursday, October 17th. Evercore ISI boosted 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. Oppenheimer increased their price objective on U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their target price for the company from $49.00 to $65.00 in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a research note on Thursday, October 24th. Twelve research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $52.02.

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.