Integrated Wealth Concepts LLC Grows Stock Holdings in U.S. Bancorp (NYSE:USB)

Integrated Wealth Concepts LLC grew its holdings in shares of U.S. Bancorp (NYSE:USB) by 5.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,917 shares of the financial services provider’s stock after buying an additional 1,792 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in U.S. Bancorp were worth $1,460,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of USB. Redwood Wealth Management Group LLC purchased a new stake in U.S. Bancorp during the second quarter worth approximately $25,000. Frazier Financial Advisors LLC grew its stake in U.S. Bancorp by 222.7% during the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after buying an additional 441 shares during the period. 1620 Investment Advisors Inc. purchased a new stake in U.S. Bancorp during the second quarter worth approximately $30,000. Y.D. More Investments Ltd purchased a new position in shares of U.S. Bancorp in the second quarter valued at $33,000. Finally, Kimelman & Baird LLC purchased a new position in shares of U.S. Bancorp in the second quarter valued at $40,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Oppenheimer upped 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 note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a research note on Thursday, October 24th. Royal Bank of Canada set a $53.00 target price on shares of U.S. Bancorp in a research note on Thursday, October 17th. Evercore ISI upped their price target on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Finally, Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $54.00 to $57.00 in a report on Monday, September 30th. Twelve analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $52.72.

U.S. Bancorp Stock Up 0.1 %

USB stock opened at $52.18 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The firm’s 50-day simple moving average is $49.13 and its 200 day simple moving average is $44.84. The stock has a market cap of $81.40 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 3.07 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data 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 business had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter last year, the company earned $1.05 EPS. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, sell-side analysts predict that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio (DPR) is 61.16%.

U.S. Bancorp declared that its board has approved a stock buyback plan 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 reacquire up to 7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

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 transaction, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.23% of the company’s stock.

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.