National Pension Service Has $167.01 Million Holdings in U.S. Bancorp (NYSE:USB)

National Pension Service lifted its position in shares of U.S. Bancorp (NYSE:USB) by 12.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,652,022 shares of the financial services provider’s stock after buying an additional 394,178 shares during the quarter. National Pension Service owned about 0.23% of U.S. Bancorp worth $167,007,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. McAdam LLC grew its holdings in U.S. Bancorp by 2.5% in the third quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock worth $389,000 after purchasing an additional 209 shares during the period. Valmark Advisers Inc. grew its holdings in U.S. Bancorp by 2.9% in the second quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock worth $346,000 after purchasing an additional 242 shares during the period. Phillips Wealth Planners LLC grew its holdings in shares of U.S. Bancorp by 2.1% during the third quarter. Phillips Wealth Planners LLC now owns 12,056 shares of the financial services provider’s stock valued at $593,000 after buying an additional 243 shares during the last quarter. Waldron Private Wealth LLC grew its holdings in shares of U.S. Bancorp by 1.9% during the second quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock valued at $534,000 after buying an additional 247 shares during the last quarter. Finally, Naples Global Advisors LLC raised its stake in shares of U.S. Bancorp by 0.4% during the 2nd quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock worth $2,624,000 after purchasing an additional 248 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Stock Down 1.4 %

Shares of USB opened at $47.19 on Tuesday. U.S. Bancorp has a 52 week low of $33.61 and a 52 week high of $50.47. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $73.64 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 2.86 and a beta of 1.02. The stock’s 50-day moving average price is $46.26 and its 200-day moving average price is $43.14.

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. 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 during the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter in the prior year, the firm posted $1.05 EPS. U.S. Bancorp’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 3.92 EPS for the current year.

U.S. Bancorp announced that its board has approved a share buyback 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 reacquire up to 7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.24%. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio (DPR) is currently 61.16%.

Insider Activity at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction that occurred on 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 approximately $6,363,603.70. This trade 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 can be accessed through this link. Insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

USB has been the topic of a number of research reports. The Goldman Sachs Group lowered 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. Robert W. Baird set a $54.00 price objective on U.S. Bancorp in a research report on Thursday, October 17th. Citigroup upped their target price on U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. UBS Group increased their price objective on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Finally, DA Davidson increased their price objective on U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $50.87.

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.