U.S. Bancorp (NYSE:USB) Position Increased by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. raised its position in shares of U.S. Bancorp (NYSE:USB) by 544.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 13,894 shares of the financial services provider’s stock after buying an additional 11,737 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in U.S. Bancorp were worth $635,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Point72 Hong Kong Ltd lifted its stake in U.S. Bancorp by 303.0% during the third quarter. Point72 Hong Kong Ltd now owns 244,016 shares of the financial services provider’s stock valued at $11,159,000 after buying an additional 183,467 shares in the last quarter. Paradigm Capital Management LLC NV purchased a new stake in shares of U.S. Bancorp in the third quarter worth approximately $1,875,000. FSA Wealth Management LLC purchased a new stake in shares of U.S. Bancorp in the third quarter worth approximately $248,000. Morton Community Bank lifted its position in shares of U.S. Bancorp by 1.6% in the third quarter. Morton Community Bank now owns 71,830 shares of the financial services provider’s stock worth $3,285,000 after purchasing an additional 1,140 shares in the last quarter. Finally, Tradition Wealth Management LLC lifted its position in shares of U.S. Bancorp by 1.5% in the third quarter. Tradition Wealth Management LLC now owns 57,235 shares of the financial services provider’s stock worth $2,617,000 after purchasing an additional 863 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 transaction of $1,225,750.00. Following the sale, the insider now owns 129,790 shares in the company, valued at $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Down 0.4 %

Shares of U.S. Bancorp stock opened at $53.29 on Monday. The company’s fifty day simple moving average is $48.44 and its 200-day simple moving average is $44.48. The company has a market cap of $83.13 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 3.14 and a beta of 1.02. 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 1 year low of $37.67 and a 1 year high of $53.98.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $6.90 billion. During the same quarter in the previous year, the company earned $1.05 earnings per share. The business’s revenue was down 2.4% compared to the same quarter last year. As a group, sell-side analysts expect that U.S. Bancorp will post 3.93 EPS for the current year.

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

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 3.75%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s payout ratio is currently 61.16%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on USB shares. Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a research report on Thursday, October 17th. Barclays raised their price objective 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. Wells Fargo & Company raised their price objective on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective on the stock. in a research report on Thursday, October 24th. Finally, Stephens raised their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Twelve research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, U.S. Bancorp currently has an average rating of “Hold” and an average target price of $52.02.

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.