Frazier Financial Advisors LLC Grows Position in U.S. Bancorp (NYSE:USB)

Frazier Financial Advisors LLC raised its position in U.S. Bancorp (NYSE:USB) by 222.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 639 shares of the financial services provider’s stock after purchasing an additional 441 shares during the quarter. Frazier Financial Advisors LLC’s holdings in U.S. Bancorp were worth $29,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Redwood Wealth Management Group LLC purchased a new position in shares of U.S. Bancorp in the 2nd quarter worth about $25,000. 1620 Investment Advisors Inc. purchased a new position in shares of U.S. Bancorp in the 2nd quarter worth about $30,000. LRI Investments LLC purchased a new position in shares of U.S. Bancorp in the 1st quarter worth about $31,000. Y.D. More Investments Ltd purchased a new position in shares of U.S. Bancorp in the 2nd quarter worth about $33,000. Finally, Crewe Advisors LLC purchased a new position in shares of U.S. Bancorp in the 1st quarter worth about $39,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 129,790 shares in the company, valued at $6,363,603.70. The trade was a 16.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

USB has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective on the stock. in a report on Thursday, October 24th. Barclays raised their target price on U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Royal Bank of Canada set a $53.00 target price on U.S. Bancorp in a report on Thursday, October 17th. Morgan Stanley upgraded 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 report on Monday, September 30th. Finally, DA Davidson raised their target price on U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, U.S. Bancorp currently has an average rating of “Hold” and a consensus target price of $51.22.

U.S. Bancorp Price Performance

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

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.99 by $0.04. The company had revenue of $6.86 billion during the quarter, compared to analyst estimates 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 revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.05 EPS. As a group, analysts forecast that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp declared that its board has initiated a share buyback plan on Thursday, September 12th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire 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 company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.50 dividend. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.01%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

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.