Fairscale Capital LLC Buys New Holdings in U.S. Bancorp (NYSE:USB)

Fairscale Capital LLC purchased a new position in shares of U.S. Bancorp (NYSE:USB) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,223 shares of the financial services provider’s stock, valued at approximately $53,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Valmark Advisers Inc. boosted its position in shares of U.S. Bancorp by 2.9% during the 2nd quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock valued at $346,000 after acquiring an additional 242 shares in the last quarter. Waldron Private Wealth LLC boosted its holdings in U.S. Bancorp by 1.9% during the second quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock valued at $534,000 after purchasing an additional 247 shares in the last quarter. Naples Global Advisors LLC grew its stake in shares of U.S. Bancorp by 0.4% in the 2nd quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock valued at $2,624,000 after purchasing an additional 248 shares during the period. Kavar Capital Partners Group LLC raised its holdings in shares of U.S. Bancorp by 4.7% in the 2nd quarter. Kavar Capital Partners Group LLC now owns 5,555 shares of the financial services provider’s stock worth $221,000 after buying an additional 250 shares in the last quarter. Finally, STAR Financial Bank lifted its position in shares of U.S. Bancorp by 3.3% during the 2nd quarter. STAR Financial Bank now owns 7,772 shares of the financial services provider’s stock worth $309,000 after buying an additional 250 shares during the period. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

Shares of USB stock opened at $46.01 on Monday. The firm has a market cap of $71.80 billion, a price-to-earnings ratio of 15.24, a PEG ratio of 4.36 and a beta of 1.04. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $47.31. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. The stock has a 50-day moving average price of $44.39 and a 200 day moving average price of $42.31.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.94 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter in the previous year, the company earned $1.12 EPS. U.S. Bancorp’s revenue was down 4.3% on a year-over-year basis. Research analysts expect that U.S. Bancorp will post 3.87 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.50 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date is Monday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.35%. U.S. Bancorp’s payout ratio is presently 66.23%.

U.S. Bancorp announced that its Board of Directors has approved a stock buyback plan on Thursday, September 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Wells Fargo & Company upped their price target on U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $48.00 target price on shares of U.S. Bancorp in a report on Friday, September 13th. UBS Group lifted their price target on shares of U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Jefferies Financial Group decreased their price objective on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Finally, Citigroup lifted their target price on shares of U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $48.18.

Insider Activity

In related news, Director Aleem Gillani acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was acquired at an average cost of $44.99 per share, with a total value of $449,900.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $449,900. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.23% of the stock is currently owned by company insiders.

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.