Diversify Wealth Management LLC Raises Position in U.S. Bancorp (NYSE:USB)

Diversify Wealth Management LLC increased its holdings in U.S. Bancorp (NYSE:USB) by 29.5% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,555 shares of the financial services provider’s stock after buying an additional 1,722 shares during the period. Diversify Wealth Management LLC’s holdings in U.S. Bancorp were worth $367,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in USB. Norden Group LLC raised its position in shares of U.S. Bancorp by 20.2% in the first quarter. Norden Group LLC now owns 18,945 shares of the financial services provider’s stock worth $847,000 after buying an additional 3,182 shares in the last quarter. J.W. Cole Advisors Inc. raised its position in U.S. Bancorp by 4.5% during the first quarter. J.W. Cole Advisors Inc. now owns 13,569 shares of the financial services provider’s stock valued at $605,000 after purchasing an additional 580 shares in the last quarter. Private Advisor Group LLC raised its position in U.S. Bancorp by 0.6% during the first quarter. Private Advisor Group LLC now owns 94,061 shares of the financial services provider’s stock valued at $4,205,000 after purchasing an additional 547 shares in the last quarter. Mission Wealth Management LP raised its position in U.S. Bancorp by 200.7% during the first quarter. Mission Wealth Management LP now owns 18,273 shares of the financial services provider’s stock valued at $817,000 after purchasing an additional 12,197 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in U.S. Bancorp by 90.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 862,317 shares of the financial services provider’s stock valued at $36,676,000 after purchasing an additional 409,192 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. StockNews.com upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Royal Bank of Canada set a $53.00 price objective on U.S. Bancorp in a report on Thursday, October 17th. Wells Fargo & Company lifted their price objective on U.S. Bancorp from $52.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Evercore ISI raised their target price on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research note on Wednesday. Finally, Oppenheimer raised their target price on U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $50.87.

U.S. Bancorp Stock Down 1.0 %

Shares of NYSE:USB opened at $47.84 on Friday. 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 has a 12 month low of $32.39 and a 12 month high of $50.47. The company has a 50-day moving average price of $46.23 and a 200 day moving average price of $43.05. The company has a market cap of $74.65 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 2.88 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.04. The business had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.05 earnings per share. As a group, equities research analysts predict that U.S. Bancorp will post 3.92 earnings per share for the current year.

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 paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s payout ratio is currently 61.16%.

U.S. Bancorp declared that its Board of Directors has initiated a stock buyback plan 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 purchase up to 7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction that occurred 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 sale, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.23% of the company’s stock.

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.