nVerses Capital LLC Acquires 1,300 Shares of U.S. Bancorp (NYSE:USB)

nVerses Capital LLC raised its stake in U.S. Bancorp (NYSE:USB) by 44.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 4,200 shares of the financial services provider’s stock after buying an additional 1,300 shares during the period. nVerses Capital LLC’s holdings in U.S. Bancorp were worth $192,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of USB. Marshall Wace LLP grew its stake in U.S. Bancorp by 1,438.4% in the 2nd quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock valued at $89,853,000 after buying an additional 2,116,175 shares during the last quarter. National Bank of Canada FI lifted its holdings in U.S. Bancorp by 313.8% during the 2nd quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock worth $105,903,000 after purchasing an additional 2,046,522 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in U.S. Bancorp by 88.9% in the 1st quarter. BNP Paribas Financial Markets now owns 2,331,050 shares of the financial services provider’s stock valued at $104,198,000 after purchasing an additional 1,097,179 shares during the period. Clearbridge Investments LLC grew its holdings in U.S. Bancorp by 16.2% in the 1st quarter. Clearbridge Investments LLC now owns 6,941,466 shares of the financial services provider’s stock valued at $310,284,000 after buying an additional 967,143 shares in the last quarter. Finally, American Century Companies Inc. increased its position in U.S. Bancorp by 15.6% during the 2nd quarter. American Century Companies Inc. now owns 6,846,497 shares of the financial services provider’s stock worth $271,806,000 after buying an additional 925,073 shares during the period. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $49.16 on Friday. The business’s 50-day moving average price is $45.24 and its 200-day moving average price is $42.66. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $50.47. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $76.71 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 3.32 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The firm had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.05 EPS. Equities research analysts forecast that U.S. Bancorp will post 3.86 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.07%. 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. U.S. Bancorp’s payout ratio is 66.23%.

U.S. Bancorp declared that its Board of Directors has initiated a share buyback program 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 stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Jefferies Financial Group decreased their price target 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. Barclays increased their target price on shares of U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a research note on Thursday. Citigroup raised 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. Finally, Oppenheimer increased their target price on U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a report on Thursday. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $50.71.

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.