Element Wealth LLC Takes Position in U.S. Bancorp (NYSE:USB)

Element Wealth LLC purchased a new stake in U.S. Bancorp (NYSE:USB) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,040 shares of the financial services provider’s stock, valued at approximately $230,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Redwood Wealth Management Group LLC acquired a new stake in U.S. Bancorp during the second quarter valued at approximately $25,000. 1620 Investment Advisors Inc. bought a new position in shares of U.S. Bancorp during the 2nd quarter worth approximately $30,000. Eagle Bay Advisors LLC boosted its stake in U.S. Bancorp by 93.2% in the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after buying an additional 331 shares in the last quarter. LRI Investments LLC bought a new stake in U.S. Bancorp in the first quarter valued at $31,000. Finally, Y.D. More Investments Ltd acquired a new position in U.S. Bancorp during the second quarter worth $33,000. Institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the sale, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.23% of the stock is owned by insiders.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $48.45 on Friday. The firm has a fifty day moving average of $45.61 and a two-hundred day moving average of $42.77. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. The stock has a market capitalization of $75.60 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 3.32 and a beta of 1.03. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $50.47.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 EPS 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 business had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the prior year, the company posted $1.05 earnings per share. The firm’s revenue was down 2.4% on a year-over-year basis. As a group, equities research analysts predict that U.S. Bancorp will post 3.86 EPS for the current year.

U.S. Bancorp announced that its board has approved a share buyback program on Thursday, September 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.13%. This is an increase 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 currently 66.23%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on USB shares. Stephens upped their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. lowered shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective for the company. in a report on Thursday, June 27th. Evercore ISI lifted their target price on shares of U.S. Bancorp from $49.00 to $51.00 and gave the company an “in-line” rating in a research note on Wednesday, October 2nd. The Goldman Sachs Group decreased their price target on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Finally, Wells Fargo & Company lifted their price objective on U.S. Bancorp from $52.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $50.72.

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.