Integrated Advisors Network LLC Raises Holdings in U.S. Bancorp (NYSE:USB)

Integrated Advisors Network LLC increased its position in U.S. Bancorp (NYSE:USB) by 7.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 14,680 shares of the financial services provider’s stock after buying an additional 1,034 shares during the period. Integrated Advisors Network LLC’s holdings in U.S. Bancorp were worth $671,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in USB. Redwood Wealth Management Group LLC purchased a new position in shares of U.S. Bancorp in the 2nd quarter worth $25,000. 1620 Investment Advisors Inc. purchased a new position in shares of U.S. Bancorp in the 2nd quarter worth $30,000. Eagle Bay Advisors LLC raised its position in shares of U.S. Bancorp by 93.2% in the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after buying an additional 331 shares during the period. LRI Investments LLC purchased a new position in shares of U.S. Bancorp in the 1st quarter worth $31,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of U.S. Bancorp in the 2nd quarter worth $33,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on USB shares. DA Davidson raised their price objective on U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Wells Fargo & Company boosted their price objective on U.S. Bancorp from $52.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Citigroup boosted their price objective on U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Royal Bank of Canada set a $53.00 price objective on U.S. Bancorp in a research note on Thursday, October 17th. Finally, Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $54.00 to $57.00 in a research note on Monday, September 30th. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $50.87.

Insider Activity

In other news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction that occurred 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 directly owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Down 0.8 %

Shares of U.S. Bancorp stock opened at $48.30 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The firm has a market cap of $75.37 billion, a P/E ratio of 14.77, a P/E/G ratio of 2.85 and a beta of 1.03. U.S. Bancorp has a fifty-two week low of $30.88 and a fifty-two week high of $50.47. The business has a 50-day moving average price of $46.18 and a 200 day moving average price of $43.00.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.04. The firm had revenue of $6.86 billion during the quarter, compared to analyst estimates 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 quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $1.05 earnings per share. On average, sell-side analysts forecast that U.S. Bancorp will post 3.9 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 4.14%. U.S. Bancorp’s dividend payout ratio is 61.16%.

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

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.