Baker Boyer National Bank Invests $209,000 in U.S. Bancorp (NYSE:USB)

Baker Boyer National Bank bought a new position in U.S. Bancorp (NYSE:USB) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 4,577 shares of the financial services provider’s stock, valued at approximately $209,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in USB. Vanguard Group Inc. raised its holdings in U.S. Bancorp by 0.4% during the first quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider’s stock valued at $6,051,096,000 after acquiring an additional 502,776 shares during the period. Davis Selected Advisers raised its stake in U.S. Bancorp by 0.3% during the 2nd quarter. Davis Selected Advisers now owns 14,228,444 shares of the financial services provider’s stock valued at $564,869,000 after purchasing an additional 43,437 shares during the period. Bank of New York Mellon Corp lifted its holdings in U.S. Bancorp by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,312,930 shares of the financial services provider’s stock worth $528,523,000 after purchasing an additional 94,841 shares in the last quarter. Legal & General Group Plc lifted its holdings in U.S. Bancorp by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock worth $491,364,000 after purchasing an additional 325,374 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in U.S. Bancorp by 2.9% in the 2nd quarter. Van ECK Associates Corp now owns 9,478,454 shares of the financial services provider’s stock worth $376,295,000 after purchasing an additional 271,078 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on USB shares. Jefferies Financial Group reduced their price objective on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. UBS Group boosted their price target on shares of U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. The Goldman Sachs Group dropped their price objective on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. JPMorgan Chase & Co. cut U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price on the stock. in a report on Thursday, June 27th. Finally, Morgan Stanley raised 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. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Hold” and an average price target of $50.71.

U.S. Bancorp Trading Down 1.6 %

USB stock opened at $49.16 on Monday. The firm’s fifty day simple moving average is $45.24 and its two-hundred day simple moving average is $42.66. The stock has a market capitalization of $76.71 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $50.47.

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

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.07%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s dividend payout ratio is presently 66.23%.

U.S. Bancorp declared that its board has initiated a share buyback plan on Thursday, September 12th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

U.S. Bancorp Company 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.