Bartlett & CO. Wealth Management LLC Buys 1,447 Shares of U.S. Bancorp (NYSE:USB)

Bartlett & CO. Wealth Management LLC lifted its stake in shares of U.S. Bancorp (NYSE:USB) by 0.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 373,336 shares of the financial services provider’s stock after acquiring an additional 1,447 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in U.S. Bancorp were worth $17,259,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in USB. Marshall Wace LLP boosted its stake in shares of U.S. Bancorp by 1,438.4% during the 2nd quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock worth $89,853,000 after acquiring an additional 2,116,175 shares in the last quarter. National Bank of Canada FI boosted its stake in shares of U.S. Bancorp by 313.8% during the 2nd quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock worth $105,903,000 after acquiring an additional 2,046,522 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of U.S. Bancorp by 88.9% during the 1st quarter. BNP Paribas Financial Markets now owns 2,331,050 shares of the financial services provider’s stock worth $104,198,000 after acquiring an additional 1,097,179 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of U.S. Bancorp by 16.2% during the 1st quarter. Clearbridge Investments LLC now owns 6,941,466 shares of the financial services provider’s stock worth $310,284,000 after acquiring an additional 967,143 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in U.S. Bancorp by 15.6% during the 2nd quarter. American Century Companies Inc. now owns 6,846,497 shares of the financial services provider’s stock valued at $271,806,000 after purchasing an additional 925,073 shares during the period. Institutional investors own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on USB shares. Stephens increased their target price on U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday. UBS Group increased their target price on U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $54.00 to $57.00 in a research note on Monday, September 30th. 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. Finally, JPMorgan Chase & Co. downgraded U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price for the company. in a research note on Thursday, June 27th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Hold” and an average price target of $50.71.

U.S. Bancorp Trading Down 1.6 %

Shares of USB opened at $49.16 on Friday. U.S. Bancorp has a 1 year low of $30.47 and a 1 year high of $50.47. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. The stock has a 50 day simple moving average of $45.24 and a 200-day simple moving average of $42.66. The stock has a market cap of $76.71 billion, a PE ratio of 16.28, a PEG ratio of 3.32 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results 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 return on equity of 13.34% and a net margin of 12.55%. The firm had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same period last year, the firm posted $1.05 EPS. The business’s revenue was down 2.4% on a year-over-year basis. On average, sell-side analysts predict that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp announced that its board has authorized 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 repurchase up to 7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors 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 yield of 4.07%. This is a boost 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 (DPR) is currently 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.