Gould Capital LLC Purchases 371 Shares of U.S. Bancorp (NYSE:USB)

Gould Capital LLC grew its holdings in U.S. Bancorp (NYSE:USB) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 26,844 shares of the financial services provider’s stock after purchasing an additional 371 shares during the quarter. Gould Capital LLC’s holdings in U.S. Bancorp were worth $1,228,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of USB. Geode Capital Management LLC grew its holdings in U.S. Bancorp by 1.8% during the third quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock valued at $1,507,616,000 after purchasing an additional 599,852 shares during the period. Goodman Advisory Group LLC boosted its position in shares of U.S. Bancorp by 6.1% during the third quarter. Goodman Advisory Group LLC now owns 121,066 shares of the financial services provider’s stock worth $5,536,000 after purchasing an additional 6,976 shares in the last quarter. M&T Bank Corp grew its holdings in shares of U.S. Bancorp by 2.8% in the 3rd quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock valued at $38,704,000 after buying an additional 22,803 shares during the period. LRI Investments LLC increased its position in shares of U.S. Bancorp by 20.8% in the 3rd quarter. LRI Investments LLC now owns 8,040 shares of the financial services provider’s stock valued at $404,000 after buying an additional 1,383 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd raised its stake in U.S. Bancorp by 11.7% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 56,141 shares of the financial services provider’s stock worth $2,567,000 after buying an additional 5,881 shares during the period. Institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

USB has been the topic of several recent analyst reports. The Goldman Sachs Group cut their price objective on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Piper Sandler increased their price objective on shares of U.S. Bancorp from $52.00 to $58.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Stephens boosted their price objective 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. Oppenheimer lifted their price target on U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, Evercore ISI increased their price objective 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. Twelve equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $52.72.

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the firm’s 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 transaction, the insider now owns 129,790 shares in the company, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $51.34 on Tuesday. The company has a market capitalization of $80.08 billion, a price-to-earnings ratio of 15.70, a PEG ratio of 3.08 and a beta of 1.03. The stock’s 50 day moving average is $49.24 and its 200-day moving average is $44.95. 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 $37.81 and a 12 month high of $53.98.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.04. The firm had revenue of $6.86 billion for 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%. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.05 EPS. Equities research analysts expect that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders 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 3.90%. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio is presently 61.16%.

U.S. Bancorp announced that its board has authorized a stock repurchase program on Thursday, September 12th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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.