Catalyst Financial Partners LLC Grows Position in U.S. Bancorp (NYSE:USB)

Catalyst Financial Partners LLC raised its holdings in U.S. Bancorp (NYSE:USB) by 5.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,195 shares of the financial services provider’s stock after purchasing an additional 398 shares during the period. Catalyst Financial Partners LLC’s holdings in U.S. Bancorp were worth $329,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Manning & Napier Advisors LLC bought a new position in shares of U.S. Bancorp in the second quarter worth $20,188,000. Mission Wealth Management LP grew its holdings in U.S. Bancorp by 200.7% during the 1st quarter. Mission Wealth Management LP now owns 18,273 shares of the financial services provider’s stock valued at $817,000 after buying an additional 12,197 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of U.S. Bancorp by 6.4% during the first quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock valued at $12,363,000 after buying an additional 16,686 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of U.S. Bancorp by 90.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 862,317 shares of the financial services provider’s stock worth $36,676,000 after buying an additional 409,192 shares in the last quarter. Finally, Koshinski Asset Management Inc. bought a new position in shares of U.S. Bancorp in the first quarter valued at approximately $732,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

USB has been the topic of several recent analyst reports. 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 research note on Thursday, October 17th. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Stephens raised their price target on U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Oppenheimer boosted their price objective on U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Robert W. Baird set a $54.00 target price on shares of U.S. Bancorp in a research note on Thursday, October 17th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $50.87.

Insider Activity

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 stock was 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Down 0.8 %

Shares of USB opened at $48.30 on Friday. The firm has a fifty day simple moving average of $46.18 and a two-hundred day simple moving average of $43.00. U.S. Bancorp has a twelve month low of $30.88 and a twelve month high of $50.47. The stock has a market capitalization of $75.37 billion, a P/E ratio of 14.77, a PEG ratio of 2.85 and a beta of 1.03. 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 (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 company had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. U.S. Bancorp’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.05 EPS. On average, research analysts anticipate that U.S. Bancorp will post 3.9 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date 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 is 61.16%.

U.S. Bancorp declared that its Board of Directors has initiated a stock repurchase program on Thursday, September 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

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.