Richardson Financial Services Inc. Purchases 300 Shares of U.S. Bancorp (NYSE:USB)

Richardson Financial Services Inc. grew its holdings in U.S. Bancorp (NYSE:USB) by 5.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,771 shares of the financial services provider’s stock after buying an additional 300 shares during the quarter. Richardson Financial Services Inc.’s holdings in U.S. Bancorp were worth $264,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Redwood Wealth Management Group LLC acquired a new position in U.S. Bancorp in the second quarter valued at approximately $25,000. LRI Investments LLC acquired a new position in shares of U.S. Bancorp in the 1st quarter valued at approximately $31,000. Eagle Bay Advisors LLC raised its holdings in shares of U.S. Bancorp by 93.2% during the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 331 shares during the period. 1620 Investment Advisors Inc. acquired a new position in shares of U.S. Bancorp during the second quarter worth about $30,000. Finally, Y.D. More Investments Ltd bought a new position in shares of U.S. Bancorp during the 2nd quarter worth approximately $33,000. Institutional investors own 77.60% of the company’s stock.

Insider Transactions at U.S. Bancorp

In other 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 completion of the sale, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

USB has been the topic of several recent analyst reports. Citigroup boosted their price target on U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Robert W. Baird set a $54.00 target price on U.S. Bancorp in a report on Thursday, October 17th. Barclays lifted 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 note on Thursday, October 17th. Wells Fargo & Company increased their target price on shares of U.S. Bancorp from $52.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, Oppenheimer raised their price objective on U.S. Bancorp from $57.00 to $59.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, U.S. Bancorp currently has an average rating of “Hold” and a consensus target price of $50.72.

U.S. Bancorp Price Performance

Shares of NYSE USB traded down $0.71 during midday trading on Friday, reaching $47.74. 6,601,339 shares of the stock traded hands, compared to its average volume of 8,435,131. The stock has a market capitalization of $74.50 billion, a PE ratio of 15.81, a P/E/G ratio of 2.85 and a beta of 1.03. The company’s 50 day moving average is $45.81 and its 200 day moving average is $42.83. 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 one year low of $30.47 and a one year high of $50.47.

U.S. Bancorp (NYSE:USB) last posted 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. The company had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.05 EPS. On average, equities research analysts anticipate that U.S. Bancorp will post 3.9 earnings per share for the current year.

U.S. Bancorp declared that its board has authorized a stock repurchase plan on Thursday, September 12th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 7% of its stock through open market purchases. Stock repurchase plans are typically 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 $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.19%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s payout ratio is presently 66.23%.

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.