U.S. Bancorp (NYSE:USB) Shares Acquired by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in U.S. Bancorp (NYSE:USB) by 4.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 287,348 shares of the financial services provider’s stock after purchasing an additional 13,165 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in U.S. Bancorp were worth $13,140,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in USB. Redwood Wealth Management Group LLC purchased a new stake in U.S. Bancorp in the 2nd quarter valued at about $25,000. Frazier Financial Advisors LLC grew its holdings in U.S. Bancorp by 222.7% in the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 441 shares during the period. 1620 Investment Advisors Inc. acquired a new position in U.S. Bancorp during the second quarter worth approximately $30,000. LRI Investments LLC purchased a new position in U.S. Bancorp during the first quarter worth approximately $31,000. Finally, Y.D. More Investments Ltd purchased a new position in U.S. Bancorp during the second quarter worth approximately $33,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on USB. Oppenheimer upped their price objective on U.S. Bancorp from $59.00 to $64.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lowered U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective on the stock. in a research note on Thursday, October 24th. DA Davidson increased their target price on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Stephens lifted their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $51.22.

Insider Buying and Selling

In other U.S. Bancorp 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 value of $1,225,750.00. Following the sale, the insider now directly owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

U.S. Bancorp stock opened at $52.49 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a 12 month low of $36.49 and a 12 month high of $52.69. The company has a fifty day moving average price of $47.63 and a two-hundred day moving average price of $44.05. The company has a market cap of $81.89 billion, a PE ratio of 16.05, a P/E/G ratio of 3.03 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last posted its quarterly 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. The business had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.05 EPS. Research analysts expect that U.S. Bancorp will post 3.93 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 given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.81%. 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 announced that its board has authorized a share buyback program on Thursday, September 12th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.