Los Angeles Capital Management LLC Grows Stock Position in U.S. Bancorp (NYSE:USB)

Los Angeles Capital Management LLC lifted its stake in U.S. Bancorp (NYSE:USB) by 723.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 3,211,555 shares of the financial services provider’s stock after buying an additional 2,821,642 shares during the period. Los Angeles Capital Management LLC’s holdings in U.S. Bancorp were worth $146,864,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Redwood Wealth Management Group LLC bought a new position in U.S. Bancorp during the 2nd quarter valued at approximately $25,000. 1620 Investment Advisors Inc. bought a new position in U.S. Bancorp during the 2nd quarter valued at approximately $30,000. Eagle Bay Advisors LLC raised its position in U.S. Bancorp by 93.2% during the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 331 shares during the last quarter. LRI Investments LLC bought a new position in U.S. Bancorp during the 1st quarter valued at approximately $31,000. Finally, Y.D. More Investments Ltd bought a new position in U.S. Bancorp during the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Activity

In other news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the transaction, the insider now directly owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on USB. DA Davidson upped their price target on U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a research report on Thursday, October 17th. UBS Group upped their target price on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Evercore ISI upped their target price on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Finally, Citigroup upped their target price on U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned 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 $51.12.

U.S. Bancorp Stock Up 1.3 %

USB traded up $0.65 during trading on Friday, hitting $50.21. 8,615,275 shares of the company’s stock traded hands, compared to its average volume of 9,218,101. The company’s 50 day simple moving average is $46.52 and its two-hundred day simple moving average is $43.37. 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 $33.61 and a 12-month high of $51.76. The stock has a market capitalization of $78.33 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 3.02 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The business had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same period last year, the business posted $1.05 EPS. The company’s revenue was down 2.4% compared to the same quarter last year. Analysts predict that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp declared that its Board of Directors has approved a share buyback program on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The company 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 annualized dividend and a dividend yield of 3.98%. This is a boost 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 is presently 61.16%.

U.S. Bancorp 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.