U.S. Bancorp (NYSE:USB) Shares Bought by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC lifted its position in shares of U.S. Bancorp (NYSE:USB) by 5.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 12,296 shares of the financial services provider’s stock after acquiring an additional 620 shares during the period. Lake Street Advisors Group LLC’s holdings in U.S. Bancorp were worth $568,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of USB. LVW Advisors LLC raised its stake in U.S. Bancorp by 37.0% during the 1st quarter. LVW Advisors LLC now owns 39,300 shares of the financial services provider’s stock valued at $1,757,000 after acquiring an additional 10,612 shares in the last quarter. Kowal Investment Group LLC lifted its position in U.S. Bancorp by 3.5% in the first quarter. Kowal Investment Group LLC now owns 51,899 shares of the financial services provider’s stock worth $2,320,000 after purchasing an additional 1,736 shares during the period. Applied Capital LLC FL lifted its holdings in shares of U.S. Bancorp by 3.3% in the first quarter. Applied Capital LLC FL now owns 30,601 shares of the financial services provider’s stock valued at $1,368,000 after buying an additional 986 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of U.S. Bancorp by 0.8% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,686,118 shares of the financial services provider’s stock valued at $164,769,000 after purchasing an additional 30,922 shares in the last quarter. Finally, Caldwell Sutter Capital Inc. lifted its stake in U.S. Bancorp by 3.7% during the first quarter. Caldwell Sutter Capital Inc. now owns 10,528 shares of the financial services provider’s stock valued at $471,000 after purchasing an additional 372 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on USB. Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $54.00 to $57.00 in a report on Monday, September 30th. Robert W. Baird set a $54.00 price objective on U.S. Bancorp in a report on Thursday, October 17th. 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. Stephens upped their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective on the stock. in a research report on Thursday. Thirteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $50.72.

Insider Buying and Selling

In other news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction 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 of the company’s stock, valued at approximately $6,363,603.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $47.74 on Friday. The business’s 50 day moving average is $45.81 and its 200-day moving average is $42.83. The firm has a market capitalization of $74.50 billion, a PE ratio of 14.60, a PEG ratio of 2.85 and a beta of 1.03. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $50.47. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04.

U.S. Bancorp (NYSE:USB) last posted its 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. The company had revenue of $6.86 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 earnings per share. Sell-side analysts predict that U.S. Bancorp will post 3.9 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.50 per share. 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 4.19%. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s dividend payout ratio is 61.16%.

U.S. Bancorp announced that its Board of Directors has approved a share repurchase 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 repurchase up to 7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership 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.