4,962 Shares in U.S. Bancorp (NYSE:USB) Bought by MKT Advisors LLC

MKT Advisors LLC bought a new stake in U.S. Bancorp (NYSE:USB) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,962 shares of the financial services provider’s stock, valued at approximately $220,000.

Other hedge funds have also made changes to their positions in the company. Miracle Mile Advisors LLC lifted its stake in shares of U.S. Bancorp by 11.8% during the third quarter. Miracle Mile Advisors LLC now owns 7,898 shares of the financial services provider’s stock valued at $361,000 after buying an additional 834 shares during the period. Everpar Advisors LLC lifted its stake in shares of U.S. Bancorp by 3.9% during the 3rd quarter. Everpar Advisors LLC now owns 14,186 shares of the financial services provider’s stock worth $649,000 after purchasing an additional 531 shares during the period. GAMMA Investing LLC boosted its holdings in shares of U.S. Bancorp by 22.3% during the third quarter. GAMMA Investing LLC now owns 32,206 shares of the financial services provider’s stock worth $1,473,000 after purchasing an additional 5,883 shares during the last quarter. Handelsbanken Fonder AB lifted its position in U.S. Bancorp by 1.0% during the third quarter. Handelsbanken Fonder AB now owns 397,884 shares of the financial services provider’s stock worth $18,195,000 after buying an additional 3,761 shares during the period. Finally, Great Waters Wealth Management boosted its stake in U.S. Bancorp by 13.3% in the 3rd quarter. Great Waters Wealth Management now owns 12,666 shares of the financial services provider’s stock worth $579,000 after buying an additional 1,482 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of USB traded down $0.17 during mid-day trading on Monday, reaching $44.53. 1,652,036 shares of the company’s stock traded hands, compared to its average volume of 8,261,854. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $47.31. The stock has a market capitalization of $69.49 billion, a P/E ratio of 14.74, a price-to-earnings-growth ratio of 3.06 and a beta of 1.03. The business’s 50-day moving average price is $44.47 and its 200-day moving average price is $42.46. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.04. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The company’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.12 earnings per share. Equities analysts predict that U.S. Bancorp will post 3.86 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.50 dividend. The ex-dividend date is Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 4.49%. U.S. Bancorp’s dividend payout ratio (DPR) is 66.23%.

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on USB shares. Wells Fargo & Company boosted their price objective on shares of U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. The Goldman Sachs Group decreased their price objective on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Oppenheimer increased their price target on U.S. Bancorp from $54.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Citigroup upped their target price 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. Finally, Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $54.00 to $57.00 in a report on Monday, September 30th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, U.S. Bancorp currently has an average rating of “Hold” and an average price target of $48.65.

Insider Transactions at U.S. Bancorp

In other news, Director Aleem Gillani bought 10,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were purchased at an average cost of $44.99 per share, with a total value of $449,900.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $449,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.23% of the company’s stock.

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.