U.S. Bancorp (NYSE:USB) Shares Bought by Independent Advisor Alliance

Independent Advisor Alliance raised its stake in U.S. Bancorp (NYSE:USB) by 4.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 56,776 shares of the financial services provider’s stock after acquiring an additional 2,475 shares during the quarter. Independent Advisor Alliance’s holdings in U.S. Bancorp were worth $2,596,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in USB. Mount Yale Investment Advisors LLC raised its stake in shares of U.S. Bancorp by 9.1% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 8,489 shares of the financial services provider’s stock worth $379,000 after buying an additional 710 shares during the period. SVB Wealth LLC raised its stake in shares of U.S. Bancorp by 5.9% during the 1st quarter. SVB Wealth LLC now owns 11,221 shares of the financial services provider’s stock worth $502,000 after buying an additional 622 shares during the period. Janus Henderson Group PLC raised its stake in shares of 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 worth $12,363,000 after buying an additional 16,686 shares during the period. Dynasty Wealth Management LLC acquired a new position in shares of U.S. Bancorp during the 1st quarter worth approximately $292,000. Finally, B. Riley Wealth Advisors Inc. raised its stake in shares of U.S. Bancorp by 17.1% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 56,020 shares of the financial services provider’s stock worth $2,504,000 after buying an additional 8,176 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

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 dated Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the transaction, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. This trade represents a 16.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Citigroup raised U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their target price for the stock from $49.00 to $65.00 in a research note on Monday. Robert W. Baird set a $54.00 price objective on U.S. Bancorp in a research note on Thursday, October 17th. Royal Bank of Canada set a $53.00 price objective on U.S. Bancorp in a research note on Thursday, October 17th. Evercore ISI increased their price objective on U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company increased their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Twelve research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp presently has an average rating of “Hold” and a consensus target price of $52.02.

U.S. Bancorp Stock Performance

NYSE USB opened at $53.63 on Tuesday. The stock has a market cap of $83.66 billion, a PE ratio of 16.40, a P/E/G ratio of 3.10 and a beta of 1.02. 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 twelve month low of $36.49 and a twelve month high of $53.93. The stock has a fifty day simple moving average of $47.81 and a 200-day simple moving average of $44.15.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results 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. The business had revenue of $6.86 billion during 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 revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.05 EPS. Equities analysts anticipate that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp declared that its Board of Directors has approved a share repurchase plan on Thursday, September 12th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.73%. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

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.