Accredited Investors Inc. Buys 8,187 Shares of U.S. Bancorp (NYSE:USB)

Accredited Investors Inc. raised its position in shares of U.S. Bancorp (NYSE:USB) by 14.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,890 shares of the financial services provider’s stock after acquiring an additional 8,187 shares during the period. Accredited Investors Inc.’s holdings in U.S. Bancorp were worth $3,013,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Redwood Wealth Management Group LLC purchased a new stake in U.S. Bancorp in the 2nd quarter worth about $25,000. 1620 Investment Advisors Inc. bought a new position in shares of U.S. Bancorp during the second quarter valued at approximately $30,000. LRI Investments LLC purchased a new stake in shares of U.S. Bancorp in the first quarter worth approximately $31,000. Y.D. More Investments Ltd bought a new stake in shares of U.S. Bancorp during the 2nd quarter worth approximately $33,000. Finally, Crewe Advisors LLC purchased a new position in U.S. Bancorp during the 1st quarter valued at $39,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Transactions 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 on Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the transaction, the insider now 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Down 0.8 %

NYSE USB opened at $49.90 on Friday. U.S. Bancorp has a 52 week low of $36.49 and a 52 week high of $51.76. The company has a 50 day moving average price of $46.99 and a 200 day moving average price of $43.71. 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 firm has a market cap of $77.85 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 2.94 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The business had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 earnings per share. As a group, sell-side analysts forecast that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp declared that its Board of Directors has initiated a share buyback program on Thursday, September 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock repurchase programs are generally 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. Shareholders of record on Monday, September 30th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.01%. 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 dividend payout ratio (DPR) is currently 61.16%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. The Goldman Sachs Group reduced their target price 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. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $54.00 to $57.00 in a research note on Monday, September 30th. Barclays upped their target price on shares of U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a research note on Thursday, October 24th. Finally, Stephens increased their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Thirteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $51.22.

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.