Mitchell & Pahl Private Wealth LLC Raises Position in U.S. Bancorp (NYSE:USB)

Mitchell & Pahl Private Wealth LLC increased its stake in shares of U.S. Bancorp (NYSE:USB) by 3.6% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 43,957 shares of the financial services provider’s stock after acquiring an additional 1,507 shares during the period. Mitchell & Pahl Private Wealth LLC’s holdings in U.S. Bancorp were worth $2,010,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of USB. nVerses Capital LLC lifted its position in shares of U.S. Bancorp by 44.8% during the third quarter. nVerses Capital LLC now owns 4,200 shares of the financial services provider’s stock worth $192,000 after purchasing an additional 1,300 shares in the last quarter. Probity Advisors Inc. increased its stake in U.S. Bancorp by 2.5% during the 3rd quarter. Probity Advisors Inc. now owns 27,531 shares of the financial services provider’s stock worth $1,259,000 after buying an additional 672 shares during the period. Culbertson A N & Co. Inc. lifted its holdings in U.S. Bancorp by 1.9% in the 3rd quarter. Culbertson A N & Co. Inc. now owns 97,655 shares of the financial services provider’s stock worth $4,466,000 after buying an additional 1,800 shares in the last quarter. B.O.S.S. Retirement Advisors LLC boosted its position in U.S. Bancorp by 4.1% in the 3rd quarter. B.O.S.S. Retirement Advisors LLC now owns 42,008 shares of the financial services provider’s stock valued at $1,921,000 after buying an additional 1,638 shares during the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its position in U.S. Bancorp by 7.7% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 69,505 shares of the financial services provider’s stock valued at $3,178,000 after buying an additional 4,943 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

USB has been the topic of several recent analyst reports. UBS Group boosted their price target on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. DA Davidson lifted their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Barclays increased their target price on U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday. Stephens raised their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday. Finally, Jefferies Financial Group cut their price target on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, U.S. Bancorp currently has an average rating of “Hold” and an average price target of $49.65.

U.S. Bancorp Stock Performance

NYSE:USB traded up $0.75 during midday trading on Thursday, reaching $49.96. 5,760,433 shares of the company traded hands, compared to its average volume of 8,328,507. The firm has a market capitalization of $77.96 billion, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03. The company has a fifty day moving average price of $44.94 and a 200 day moving average price of $42.58. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $50.11.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The business had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.05 EPS. On average, analysts expect that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp declared that its board has approved 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 reacquire up to 7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

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 dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.00%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is 66.23%.

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.