Accredited Investors Inc. Boosts Position in U.S. Bancorp (NYSE:USB)

Accredited Investors Inc. grew its holdings in U.S. Bancorp (NYSE:USB) by 14.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,890 shares of the financial services provider’s stock after acquiring an additional 8,187 shares during the period. Accredited Investors Inc.’s holdings in U.S. Bancorp were worth $3,013,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Manning & Napier Advisors LLC acquired a new stake in U.S. Bancorp during the 2nd quarter worth about $20,188,000. Janus Henderson Group PLC grew its holdings in U.S. Bancorp by 6.4% during the first 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 period. Comerica Bank raised its position in U.S. Bancorp by 11.2% during the first quarter. Comerica Bank now owns 564,443 shares of the financial services provider’s stock valued at $25,231,000 after acquiring an additional 56,738 shares in the last quarter. M&G Plc lifted its holdings in U.S. Bancorp by 73.9% in the second quarter. M&G Plc now owns 314,241 shares of the financial services provider’s stock valued at $12,570,000 after acquiring an additional 133,498 shares during the period. Finally, UniSuper Management Pty Ltd boosted its position in U.S. Bancorp by 1,140.5% in the 1st 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 in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on USB shares. Robert W. Baird set a $54.00 target price on shares of U.S. Bancorp in a report on Thursday, October 17th. Stephens lifted 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 report on Thursday, October 17th. Wells Fargo & Company increased their target price on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft lowered U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a research note on Thursday, October 24th. Finally, Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a research report on Thursday, October 17th. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, U.S. Bancorp has an average rating of “Hold” and a consensus price target of $51.22.

Insider Buying and Selling

In other news, insider Jodi L. Richard sold 25,000 shares of the 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 sale, the insider now owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This represents a 16.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Trading Down 0.8 %

Shares of U.S. Bancorp stock opened at $49.90 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. The stock’s 50 day simple moving average is $46.99 and its 200-day simple moving average is $43.71. The stock has a market cap of $77.85 billion, a P/E ratio of 15.26, a P/E/G ratio of 2.94 and a beta of 1.02. U.S. Bancorp has a 1-year low of $36.49 and a 1-year high of $51.76.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping 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 company had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same quarter in the previous year, the company posted $1.05 earnings per share. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. Analysts predict that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.50 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 4.01%. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

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

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.