Townsquare Capital LLC Purchases 9,890 Shares of U.S. Bancorp (NYSE:USB)

Townsquare Capital LLC increased its position in shares of U.S. Bancorp (NYSE:USB) by 6.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 173,301 shares of the financial services provider’s stock after purchasing an additional 9,890 shares during the period. Townsquare Capital LLC’s holdings in U.S. Bancorp were worth $7,925,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of USB. Redwood Wealth Management Group LLC bought a new stake in shares of U.S. Bancorp during the second quarter valued at approximately $25,000. Frazier Financial Advisors LLC increased its position in shares of U.S. Bancorp by 222.7% during 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. bought a new stake in shares of U.S. Bancorp during the second quarter valued at approximately $30,000. LRI Investments LLC acquired a new stake in U.S. Bancorp in the 1st quarter valued at $31,000. Finally, Y.D. More Investments Ltd acquired a new stake in U.S. Bancorp in the 2nd quarter valued at $33,000. 77.60% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction dated 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 directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Deutsche Bank Aktiengesellschaft lowered U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a research note on Thursday, October 24th. Wells Fargo & Company boosted their price target on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. DA Davidson boosted their price target on U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Barclays boosted their price objective on U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, The Goldman Sachs Group reduced their price objective on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Twelve investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $52.02.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $53.48 on Thursday. The stock has a market capitalization of $83.43 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 3.16 and a beta of 1.02. The business has a 50-day moving average of $48.16 and a 200-day moving average of $44.30. 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 fifty-two week low of $36.49 and a fifty-two week high of $53.98.

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 for the quarter, beating the consensus estimate of $0.99 by $0.04. The company had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. U.S. Bancorp’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.05 EPS. As a group, sell-side analysts predict that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp announced that its Board of Directors has initiated a stock buyback plan on Thursday, September 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.50 dividend. 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. This represents a $2.00 annualized dividend and a dividend yield of 3.74%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

About U.S. Bancorp

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.