StoneX Group Inc. Purchases 7,461 Shares of U.S. Bancorp (NYSE:USB)

StoneX Group Inc. raised its holdings in U.S. Bancorp (NYSE:USB) by 14.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,640 shares of the financial services provider’s stock after buying an additional 7,461 shares during the quarter. StoneX Group Inc.’s holdings in U.S. Bancorp were worth $2,803,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Quadrature Capital Ltd bought a new stake in shares of U.S. Bancorp in the 1st quarter valued at approximately $1,353,000. Mount Yale Investment Advisors LLC grew its position in U.S. Bancorp by 9.1% in the first quarter. Mount Yale Investment Advisors LLC now owns 8,489 shares of the financial services provider’s stock valued at $379,000 after acquiring an additional 710 shares during the period. SVB Wealth LLC raised its stake in U.S. Bancorp by 5.9% during the first quarter. SVB Wealth LLC now owns 11,221 shares of the financial services provider’s stock worth $502,000 after acquiring an additional 622 shares in the last quarter. Econ Financial Services Corp bought a new position in shares of U.S. Bancorp during the first quarter valued at $1,024,000. Finally, Black Maple Capital Management LP acquired a new stake in shares of U.S. Bancorp in the 1st quarter valued at $6,192,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on USB shares. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $54.00 to $57.00 in a report on Monday, September 30th. Robert W. Baird set a $54.00 target price on shares of U.S. Bancorp in a research note on Thursday, October 17th. Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a research report on Thursday, October 17th. Evercore ISI lifted their price objective on U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. 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. Thirteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $51.22.

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the transaction, the insider now owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This trade represents a 16.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Up 2.1 %

Shares of NYSE USB opened at $52.49 on Friday. U.S. Bancorp has a fifty-two week low of $36.49 and a fifty-two week high of $52.69. The firm has a market capitalization of $81.89 billion, a P/E ratio of 16.05, a P/E/G ratio of 3.03 and a beta of 1.02. 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 company’s 50 day simple moving average is $47.63 and its 200 day simple moving average is $44.05.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share 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 company had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the prior year, the business posted $1.05 EPS. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. On average, analysts predict that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 3.81%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio (DPR) is 61.16%.

U.S. Bancorp declared that its Board of Directors has authorized a share repurchase program on Thursday, September 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

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.