Angeles Wealth Management LLC Invests $208,000 in U.S. Bancorp (NYSE:USB)

Angeles Wealth Management LLC bought a new position in shares of U.S. Bancorp (NYSE:USB) during the third quarter, according to its most recent filing with the SEC. The fund bought 4,550 shares of the financial services provider’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Manning & Napier Advisors LLC purchased a new stake in shares of U.S. Bancorp in the second quarter worth $20,188,000. Janus Henderson Group PLC lifted its holdings in shares of U.S. Bancorp by 6.4% in the 1st quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock worth $12,363,000 after acquiring an additional 16,686 shares during the last quarter. Koshinski Asset Management Inc. bought a new position in shares of U.S. Bancorp during the first quarter valued at about $732,000. Comerica Bank grew its holdings in shares of U.S. Bancorp by 11.2% in the first quarter. Comerica Bank now owns 564,443 shares of the financial services provider’s stock worth $25,231,000 after purchasing an additional 56,738 shares during the last quarter. Finally, UniSuper Management Pty Ltd boosted its holdings in shares of U.S. Bancorp by 1,140.5% during the first quarter. UniSuper Management Pty Ltd now owns 20,382 shares of the financial services provider’s stock worth $911,000 after purchasing an additional 18,739 shares during the period. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on USB. Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a research note on Thursday, October 17th. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a research note on Thursday, October 17th. Evercore ISI boosted their price target on U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Citigroup increased their price target on U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Thirteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $50.87.

Insider Activity at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 129,790 shares in the company, valued at $6,363,603.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Down 1.0 %

Shares of USB opened at $47.84 on Monday. The stock has a market capitalization of $74.65 billion, a P/E ratio of 14.63, a P/E/G ratio of 2.86 and a beta of 1.02. U.S. Bancorp has a 1-year low of $32.39 and a 1-year high of $50.47. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The business’s 50-day moving average price is $46.23 and its 200 day moving average price is $43.09.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $6.90 billion. During the same quarter in the prior year, the firm posted $1.05 EPS. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. Analysts expect that U.S. Bancorp will post 3.92 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The company also recently announced 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 positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.18%. U.S. Bancorp’s dividend payout ratio is presently 61.16%.

U.S. Bancorp declared that its board has authorized a stock repurchase 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 repurchase up to 7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management 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.