Acropolis Investment Management LLC Boosts Stock Position in U.S. Bancorp (NYSE:USB)

Acropolis Investment Management LLC boosted its holdings in shares of U.S. Bancorp (NYSE:USB) by 4.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,117 shares of the financial services provider’s stock after purchasing an additional 518 shares during the period. Acropolis Investment Management LLC’s holdings in U.S. Bancorp were worth $600,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Natixis Advisors LLC raised its holdings in shares of U.S. Bancorp by 16.6% during the third quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock valued at $18,348,000 after acquiring an additional 56,990 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in U.S. Bancorp in the 2nd quarter worth $20,188,000. Janus Henderson Group PLC lifted its position 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 purchasing an additional 16,686 shares during the period. M&G Plc boosted its stake in shares of 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 purchasing an additional 133,498 shares in the last quarter. Finally, Callan Family Office LLC increased its position in shares of U.S. Bancorp by 15.4% during the third quarter. Callan Family Office LLC now owns 6,195 shares of the financial services provider’s stock valued at $283,000 after buying an additional 829 shares during the period. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Down 0.4 %

Shares of NYSE:USB opened at $53.29 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. U.S. Bancorp has a 1 year low of $37.67 and a 1 year high of $53.98. The company has a market cap of $83.13 billion, a P/E ratio of 16.30, a PEG ratio of 3.15 and a beta of 1.02. The stock’s fifty day moving average price is $48.44 and its 200-day moving average price is $44.44.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter in the prior year, the business earned $1.05 EPS. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. Sell-side analysts expect that U.S. Bancorp will post 3.93 earnings per share 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 given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date was Monday, September 30th. 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 declared that its board has initiated a share repurchase program on Thursday, September 12th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 7% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have commented on the stock. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Evercore ISI raised their target price 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. DA Davidson upped their price target on U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Wells Fargo & Company raised their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Finally, The Goldman Sachs Group reduced their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Twelve research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $52.02.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp 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 value of $1,225,750.00. Following the transaction, the insider now directly owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.23% of the company’s stock.

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.