U.S. Bancorp $USB Shares Newly Bought by Burton Enright Welch

Burton Enright Welch bought a new position in U.S. Bancorp (NYSE:USB) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 13,756 shares of the financial services provider’s stock, valued at approximately $795,000.

Other hedge funds also recently bought and sold shares of the company. Dogwood Wealth Management LLC raised its position in U.S. Bancorp by 32.9% during the 2nd quarter. Dogwood Wealth Management LLC now owns 687 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 170 shares during the last quarter. Blalock Williams LLC lifted its holdings in U.S. Bancorp by 3.8% in the 2nd quarter. Blalock Williams LLC now owns 4,680 shares of the financial services provider’s stock worth $283,000 after buying an additional 171 shares during the period. Virtue Capital Management LLC lifted its holdings in U.S. Bancorp by 2.4% in the 3rd quarter. Virtue Capital Management LLC now owns 7,517 shares of the financial services provider’s stock worth $434,000 after buying an additional 177 shares during the period. International Assets Investment Management LLC grew its position in shares of U.S. Bancorp by 1.7% in the 3rd quarter. International Assets Investment Management LLC now owns 11,093 shares of the financial services provider’s stock worth $636,000 after buying an additional 181 shares during the last quarter. Finally, FAS Wealth Partners Inc. grew its position in shares of U.S. Bancorp by 0.9% in the 1st quarter. FAS Wealth Partners Inc. now owns 19,964 shares of the financial services provider’s stock worth $1,038,000 after buying an additional 186 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of USB opened at $59.49 on Monday. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.83 and a quick ratio of 0.83. U.S. Bancorp has a one year low of $45.02 and a one year high of $66.07. The company has a 50-day simple moving average of $59.65 and a two-hundred day simple moving average of $58.18. The firm has a market capitalization of $92.68 billion, a PE ratio of 11.60, a price-to-earnings-growth ratio of 1.13 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.02. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The business had revenue of $8.04 billion for the quarter, compared to analysts’ expectations of $8 billion. During the same period in the previous year, the firm posted $1.22 EPS. The business’s revenue was up 8.7% on a year-over-year basis. On average, analysts anticipate that U.S. Bancorp will post 5.30 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Wednesday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.52. U.S. Bancorp’s dividend payout ratio (DPR) is 42.11%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on USB. Robert W. Baird boosted their target price on U.S. Bancorp from $64.00 to $68.00 and gave the company a “neutral” rating in a research note on Friday, July 17th. Morgan Stanley set a $68.00 price target on U.S. Bancorp in a research note on Friday, October 16th. UBS Group lifted their price target on shares of U.S. Bancorp from $64.00 to $66.00 and gave the company a “neutral” rating in a report on Monday, November 2nd. Barclays lifted their price target on shares of U.S. Bancorp from $67.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, July 17th. Finally, Oppenheimer boosted their price objective on shares of U.S. Bancorp from $73.00 to $74.00 and gave the company an “outperform” rating in a research report on Monday, November 2nd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $68.65.

Insider Activity at U.S. Bancorp

In related news, CEO Gunjan Kedia sold 27,267 shares of U.S. Bancorp stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the sale, the chief executive officer directly owned 426,262 shares in the company, valued at $26,585,960.94. The trade was a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.21% of the stock is currently owned by insiders.

About U.S. Bancorp

U.S. Bancorp is the parent company of U.S. Bank, a financial services provider serving consumers, businesses, institutions and government entities across the United States. Its history traces to 1863, when one of its predecessor institutions, First National Bank of Cincinnati, was established.

U.S. Bank offers consumer and business banking, lending, payment services, wealth management, investment services and corporate trust services. Its products include checking and savings accounts, credit cards, mortgages, commercial loans and digital banking solutions.

Headquartered in Minneapolis, Minnesota, U.S.