U.S. Bancorp (NYSE:USB) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. grew its holdings in shares of U.S. Bancorp (NYSE:USB) by 10.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 80,197 shares of the financial services provider’s stock after purchasing an additional 7,394 shares during the period. QRG Capital Management Inc.’s holdings in U.S. Bancorp were worth $3,667,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Asset Management One Co. Ltd. boosted its position in shares of U.S. Bancorp by 2.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 603,060 shares of the financial services provider’s stock worth $27,578,000 after purchasing an additional 14,173 shares in the last quarter. National Pension Service boosted its holdings in U.S. Bancorp by 12.1% during the third quarter. National Pension Service now owns 3,652,022 shares of the financial services provider’s stock worth $167,007,000 after buying an additional 394,178 shares in the last quarter. Intact Investment Management Inc. increased its holdings in U.S. Bancorp by 9.1% in the third quarter. Intact Investment Management Inc. now owns 103,200 shares of the financial services provider’s stock valued at $4,719,000 after buying an additional 8,600 shares in the last quarter. Roman Butler Fullerton & Co. acquired a new stake in shares of U.S. Bancorp during the 3rd quarter valued at approximately $208,000. Finally, Forum Financial Management LP boosted its stake in shares of U.S. Bancorp by 16.7% during the 3rd quarter. Forum Financial Management LP now owns 12,363 shares of the financial services provider’s stock worth $565,000 after acquiring an additional 1,770 shares in the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Evercore ISI raised their price objective 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. Stephens lifted their price target on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Barclays boosted their price objective on shares of U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Royal Bank of Canada set a $53.00 price target on shares of U.S. Bancorp in a report on Thursday, October 17th. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $51.12.

U.S. Bancorp Price Performance

Shares of USB stock opened at $51.26 on Thursday. The firm has a fifty day simple moving average of $46.40 and a 200-day simple moving average of $43.25. The company has a market capitalization of $79.99 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 2.79 and a beta of 1.02. U.S. Bancorp has a twelve month low of $33.61 and a twelve month high of $51.76. 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 quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The company had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the prior year, the company posted $1.05 EPS. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. Equities research analysts anticipate that U.S. Bancorp will post 3.92 earnings per share for the current fiscal year.

U.S. Bancorp announced that its Board of Directors has authorized a stock buyback plan on Thursday, September 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

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 given a dividend of $0.50 per share. The ex-dividend date was Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.90%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

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.