Carroll Financial Associates Inc. boosted its position in U.S. Bancorp (NYSE:USB) by 33.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,608 shares of the financial services provider’s stock after purchasing an additional 903 shares during the period. Carroll Financial Associates Inc.’s holdings in U.S. Bancorp were worth $199,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cerebellum GP LLC increased its holdings in shares of U.S. Bancorp by 17.1% in the third quarter. Cerebellum GP LLC now owns 7,792 shares of the financial services provider’s stock valued at $431,000 after buying an additional 1,139 shares in the last quarter. Summit Financial Group Inc. increased its holdings in shares of U.S. Bancorp by 12.9% in the third quarter. Summit Financial Group Inc. now owns 5,957 shares of the financial services provider’s stock valued at $330,000 after buying an additional 682 shares in the last quarter. TRUE Private Wealth Advisors increased its holdings in shares of U.S. Bancorp by 4.8% in the third quarter. TRUE Private Wealth Advisors now owns 56,035 shares of the financial services provider’s stock valued at $3,124,000 after buying an additional 2,573 shares in the last quarter. Cardinal Capital Management Inc. increased its holdings in shares of U.S. Bancorp by 0.4% in the third quarter. Cardinal Capital Management Inc. now owns 333,901 shares of the financial services provider’s stock valued at $18,478,000 after buying an additional 1,385 shares in the last quarter. Finally, Keystone Financial Planning Inc. bought a new position in shares of U.S. Bancorp in the third quarter valued at $2,405,000. Hedge funds and other institutional investors own 75.49% of the company’s stock.
Shares of NYSE:USB opened at $53.47 on Friday. The company’s fifty day moving average is $53.94 and its two-hundred day moving average is $52.66. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.86. U.S. Bancorp has a 12-month low of $43.14 and a 12-month high of $57.81. The company has a market cap of $84.26 billion, a P/E ratio of 13.04, a price-to-earnings-growth ratio of 2.03 and a beta of 1.10.
U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. U.S. Bancorp had a net margin of 26.70% and a return on equity of 15.45%. The company had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.73 billion. During the same period in the previous year, the business earned $1.02 EPS. The company’s revenue was down 1.1% on a year-over-year basis. Equities research analysts anticipate that U.S. Bancorp will post 4.3 earnings per share for the current year.
U.S. Bancorp declared that its board has approved a stock repurchase plan on Thursday, June 27th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 3.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.42 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.37. This represents a $1.68 annualized dividend and a yield of 3.14%. The ex-dividend date is Friday, September 27th. U.S. Bancorp’s payout ratio is 40.98%.
In other news, Director David B. Omaley sold 10,133 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $55.76, for a total transaction of $565,016.08. Following the transaction, the director now directly owns 191,754 shares in the company, valued at approximately $10,692,203.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Gillern Jeffry H. Von sold 9,428 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $55.25, for a total transaction of $520,897.00. Following the transaction, the insider now owns 94,658 shares in the company, valued at $5,229,854.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,547 shares of company stock worth $2,862,231. 0.24% of the stock is currently owned by corporate insiders.
USB has been the topic of several research reports. UBS Group upped their price target on U.S. Bancorp from $55.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Wedbush upped their price target on U.S. Bancorp from $46.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Bank of America downgraded shares of U.S. Bancorp from a “neutral” rating to an “underperform” rating and cut their target price for the company from $55.00 to $53.00 in a research note on Monday, September 30th. Credit Suisse Group reissued a “hold” rating and set a $55.00 target price on shares of U.S. Bancorp in a research note on Thursday, September 12th. Finally, Piper Jaffray Companies set a $59.00 target price on shares of U.S. Bancorp and gave the company a “buy” rating in a research note on Friday, September 13th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. U.S. Bancorp has a consensus rating of “Hold” and a consensus price target of $56.31.
About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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