5,742 Shares in U.S. Bancorp (NYSE:USB) Acquired by Nations Financial Group Inc. IA ADV

Nations Financial Group Inc. IA ADV purchased a new position in U.S. Bancorp (NYSE:USB) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,742 shares of the financial services provider’s stock, valued at approximately $263,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. McAdam LLC grew its stake in shares of U.S. Bancorp by 2.5% during the third quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock valued at $389,000 after buying an additional 209 shares during the last quarter. Covestor Ltd lifted its holdings in U.S. Bancorp by 15.2% in the third quarter. Covestor Ltd now owns 1,741 shares of the financial services provider’s stock worth $80,000 after buying an additional 230 shares during the period. Valmark Advisers Inc. lifted its holdings in U.S. Bancorp by 2.9% in the second quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock worth $346,000 after buying an additional 242 shares during the period. Phillips Wealth Planners LLC lifted its holdings in U.S. Bancorp by 2.1% in the third quarter. Phillips Wealth Planners LLC now owns 12,056 shares of the financial services provider’s stock worth $593,000 after buying an additional 243 shares during the period. Finally, Waldron Private Wealth LLC lifted its holdings in U.S. Bancorp by 1.9% in the second quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock worth $534,000 after buying an additional 247 shares during the period. Institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. UBS Group lifted their target price on shares of U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a research note on Thursday, October 24th. Oppenheimer lifted their target price on shares of U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $54.00 to $57.00 in a research note on Monday, September 30th. Finally, DA Davidson boosted their price target on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $51.12.

Insider Activity

In related news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Down 1.7 %

Shares of U.S. Bancorp stock opened at $50.32 on Friday. U.S. Bancorp has a 12-month low of $36.21 and a 12-month high of $51.76. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The stock has a market cap of $78.50 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 2.99 and a beta of 1.02. The company has a fifty day simple moving average of $46.79 and a 200-day simple moving average of $43.58.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 12.92% and a return on equity of 12.91%. U.S. Bancorp’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the firm posted $1.05 EPS. On average, equities analysts forecast that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.50 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.97%. U.S. Bancorp’s payout ratio is presently 61.16%.

U.S. Bancorp announced that its board has approved a share repurchase program on Thursday, September 12th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management 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.