Sanctuary Advisors LLC Purchases 134,229 Shares of U.S. Bancorp (NYSE:USB)

Sanctuary Advisors LLC raised its position in U.S. Bancorp (NYSE:USB) by 63.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 345,292 shares of the financial services provider’s stock after buying an additional 134,229 shares during the quarter. Sanctuary Advisors LLC’s holdings in U.S. Bancorp were worth $15,790,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Pine Valley Investments Ltd Liability Co acquired a new position in shares of U.S. Bancorp during the 3rd quarter worth approximately $229,000. Wealthquest Corp bought a new stake in shares of U.S. Bancorp in the third quarter valued at approximately $1,160,000. M&T Bank Corp grew its position in U.S. Bancorp by 2.8% during the third quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock worth $38,704,000 after buying an additional 22,803 shares in the last quarter. Unigestion Holding SA bought a new position in U.S. Bancorp during the 3rd quarter worth $600,000. Finally, TD Private Client Wealth LLC raised its holdings in U.S. Bancorp by 7.3% in the 3rd quarter. TD Private Client Wealth LLC now owns 200,657 shares of the financial services provider’s stock valued at $9,176,000 after acquiring an additional 13,578 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on USB. The Goldman Sachs Group reduced their target price on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a research note on Thursday, October 17th. Compass Point boosted their target price on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday. Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Finally, Piper Sandler boosted their price objective on shares of U.S. Bancorp from $52.00 to $58.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Twelve analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $53.27.

Insider Activity

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 completion of the transaction, the insider now directly 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 legal filing with the SEC, which is accessible through this link. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Down 0.1 %

Shares of NYSE USB opened at $51.06 on Friday. The company has a 50 day simple moving average of $49.79 and a 200 day simple moving average of $45.18. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98. The firm has a market cap of $79.66 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 3.03 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter last year, the firm earned $1.05 earnings per share. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, research analysts forecast that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.92%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

U.S. Bancorp declared that its Board of Directors has initiated a stock buyback plan 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 repurchase up to 7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

U.S. Bancorp 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.