Natixis Advisors LLC Buys 56,990 Shares of U.S. Bancorp (NYSE:USB)

Natixis Advisors LLC boosted its position in U.S. Bancorp (NYSE:USB) by 16.6% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 401,232 shares of the financial services provider’s stock after purchasing an additional 56,990 shares during the period. Natixis Advisors LLC’s holdings in U.S. Bancorp were worth $18,348,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of USB. Intech Investment Management LLC boosted its stake in shares of U.S. Bancorp by 44.6% during the first quarter. Intech Investment Management LLC now owns 9,373 shares of the financial services provider’s stock valued at $419,000 after purchasing an additional 2,889 shares during the period. UniSuper Management Pty Ltd increased its holdings in U.S. Bancorp by 1,140.5% in the 1st quarter. UniSuper Management Pty Ltd now owns 20,382 shares of the financial services provider’s stock worth $911,000 after buying an additional 18,739 shares in the last quarter. Bessemer Group Inc. boosted its position in U.S. Bancorp by 170.5% in the first quarter. Bessemer Group Inc. now owns 153,986 shares of the financial services provider’s stock worth $6,883,000 after purchasing an additional 97,060 shares during the last quarter. Lake Street Advisors Group LLC boosted its position in U.S. Bancorp by 44.9% in the first quarter. Lake Street Advisors Group LLC now owns 10,962 shares of the financial services provider’s stock worth $495,000 after purchasing an additional 3,396 shares during the last quarter. Finally, National Bank of Canada FI lifted its position in shares of U.S. Bancorp by 6.3% during the 1st quarter. National Bank of Canada FI now owns 652,120 shares of the financial services provider’s stock valued at $27,280,000 after buying an additional 38,547 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

USB has been the topic of several recent analyst reports. Robert W. Baird set a $54.00 target price on U.S. Bancorp in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a research report on Thursday, October 24th. Wells Fargo & Company lifted their target price on U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. The Goldman Sachs Group cut their price target on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Finally, Evercore ISI raised their price target on U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Thirteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $51.22.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the business’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 value of $1,225,750.00. Following the completion of the sale, the insider now directly owns 129,790 shares in the company, valued at $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 through this link. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Trading Down 0.4 %

U.S. Bancorp stock opened at $50.41 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a 52 week low of $36.49 and a 52 week high of $51.76. The company has a market capitalization of $78.64 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 2.94 and a beta of 1.02. The stock has a 50-day moving average price of $47.21 and a 200 day moving average price of $43.86.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The company had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the previous year, the company posted $1.05 earnings per share. U.S. Bancorp’s revenue for the quarter was down 2.4% on a year-over-year basis. Sell-side analysts anticipate that U.S. Bancorp will post 3.93 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 issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a 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 buyback plan on Thursday, September 12th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.