U.S. Bancorp (NYSE:USB) Shares Acquired by Frazier Financial Advisors LLC

Frazier Financial Advisors LLC boosted its stake in shares of U.S. Bancorp (NYSE:USB) by 222.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 639 shares of the financial services provider’s stock after purchasing an additional 441 shares during the quarter. Frazier Financial Advisors LLC’s holdings in U.S. Bancorp were worth $29,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Manning & Napier Advisors LLC bought a new stake in U.S. Bancorp during the 2nd quarter valued at $20,188,000. Janus Henderson Group PLC raised its stake in U.S. Bancorp by 6.4% during the 1st quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock valued at $12,363,000 after acquiring an additional 16,686 shares in the last quarter. Comerica Bank raised its stake in U.S. Bancorp by 11.2% during the 1st 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 raised its stake in U.S. Bancorp by 73.9% during the 2nd 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 in the last quarter. Finally, UniSuper Management Pty Ltd raised its stake in U.S. Bancorp by 1,140.5% during the 1st quarter. UniSuper Management Pty Ltd now owns 20,382 shares of the financial services provider’s stock valued at $911,000 after acquiring an additional 18,739 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the insider now owns 129,790 shares of the company’s stock, valued at $6,363,603.70. The trade was 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 hyperlink. Corporate insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on USB shares. Wells Fargo & Company lifted their target price on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday. Evercore ISI boosted their price objective on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. 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. The Goldman Sachs Group dropped 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. Finally, Robert W. Baird set a $54.00 price objective on U.S. Bancorp in a research note on Thursday, October 17th. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, U.S. Bancorp currently has an average rating of “Hold” and a consensus price target of $51.22.

U.S. Bancorp Stock Performance

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

U.S. Bancorp (NYSE:USB) last issued its earnings results 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 firm had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the previous year, the company posted $1.05 earnings per share. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, 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 authorized a share repurchase program on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.50 dividend. The ex-dividend date was Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.01%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s payout ratio is 61.16%.

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.