First Bank & Trust Purchases 518 Shares of U.S. Bancorp (NYSE:USB)

First Bank & Trust lifted its position in U.S. Bancorp (NYSE:USB) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 77,135 shares of the financial services provider’s stock after buying an additional 518 shares during the period. First Bank & Trust’s holdings in U.S. Bancorp were worth $3,527,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in USB. Manning & Napier Advisors LLC acquired a new stake in shares of U.S. Bancorp during the second quarter worth about $20,188,000. Mission Wealth Management LP lifted its stake in U.S. Bancorp by 200.7% in the first quarter. Mission Wealth Management LP now owns 18,273 shares of the financial services provider’s stock valued at $817,000 after buying an additional 12,197 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of U.S. Bancorp by 6.4% in the first quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock valued at $12,363,000 after buying an additional 16,686 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of U.S. Bancorp by 90.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 862,317 shares of the financial services provider’s stock worth $36,676,000 after acquiring an additional 409,192 shares in the last quarter. Finally, Koshinski Asset Management Inc. acquired a new stake in shares of U.S. Bancorp during the first quarter worth $732,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on USB. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a research note on Thursday. Oppenheimer increased their price target on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $54.00 to $57.00 in a research note on Monday, September 30th. Finally, Wells Fargo & Company upped their price objective on U.S. Bancorp from $52.00 to $60.00 and gave the company an “overweight” rating 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $50.72.

U.S. Bancorp Price Performance

U.S. Bancorp stock traded down $0.71 during mid-day trading on Friday, reaching $47.74. 6,601,339 shares of the company were exchanged, compared to its average volume of 8,357,724. The company has a fifty day simple moving average of $45.81 and a 200-day simple moving average of $42.84. The firm has a market cap of $74.50 billion, a PE ratio of 15.81, a PEG ratio of 3.32 and a beta of 1.03. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $50.47.

U.S. Bancorp (NYSE:USB) last posted its quarterly 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. The business had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. U.S. Bancorp’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.05 earnings per share. As a group, equities research analysts expect that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp announced that its board has authorized a stock buyback plan 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 reacquire up to 7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The company also recently declared 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 positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.19%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 66.23%.

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.