U.S. Bancorp (NYSE:USB) Holdings Raised by Natixis Advisors LLC

Natixis Advisors LLC lifted its holdings in shares of U.S. Bancorp (NYSE:USB) by 16.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 401,232 shares of the financial services provider’s stock after purchasing an additional 56,990 shares during the quarter. Natixis Advisors LLC’s holdings in U.S. Bancorp were worth $18,348,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Mizuho Securities USA LLC raised its holdings in U.S. Bancorp by 103.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 244,622 shares of the financial services provider’s stock worth $11,187,000 after acquiring an additional 124,301 shares during the period. Birchcreek Wealth Management LLC acquired a new position in U.S. Bancorp in the third quarter valued at about $213,000. Empowered Funds LLC lifted its position in shares of U.S. Bancorp by 9.4% during the third quarter. Empowered Funds LLC now owns 27,618 shares of the financial services provider’s stock worth $1,263,000 after purchasing an additional 2,375 shares in the last quarter. Empirical Finance LLC raised its stake in shares of U.S. Bancorp by 3.0% during the third quarter. Empirical Finance LLC now owns 49,982 shares of the financial services provider’s stock worth $2,286,000 after buying an additional 1,459 shares during the last quarter. Finally, CIBC Asset Management Inc raised its stake in shares of U.S. Bancorp by 8.6% during the third quarter. CIBC Asset Management Inc now owns 484,791 shares of the financial services provider’s stock worth $22,169,000 after buying an additional 38,258 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Buying and Selling

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the company’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 directly owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on USB. Stephens upped their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. DA Davidson increased their price target on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $54.00 to $57.00 in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft lowered 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, October 24th. Finally, Robert W. Baird set a $54.00 target price on shares of U.S. Bancorp in a report on Thursday, October 17th. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Hold” and an average target price of $51.22.

U.S. Bancorp Stock Down 0.4 %

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

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. The business had revenue of $6.86 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.05 EPS. Equities analysts predict that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp announced that its Board of Directors has authorized a stock buyback plan 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 purchase up to 7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s payout ratio is 61.16%.

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.