U.S. Bancorp (NYSE:USB) Shares Acquired by BNP PARIBAS ASSET MANAGEMENT Holding S.A.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of U.S. Bancorp (NYSE:USB) by 4.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 287,348 shares of the financial services provider’s stock after acquiring an additional 13,165 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in U.S. Bancorp were worth $13,140,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of USB. Cornerstone Advisors LLC grew its position in shares of U.S. Bancorp by 1.2% during the third quarter. Cornerstone Advisors LLC now owns 83,100 shares of the financial services provider’s stock worth $3,800,000 after acquiring an additional 1,000 shares during the last quarter. Citizens Financial Group Inc. RI grew its position in U.S. Bancorp by 30.7% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 26,776 shares of the financial services provider’s stock worth $1,238,000 after purchasing an additional 6,291 shares during the last quarter. Commerce Bank increased its stake in U.S. Bancorp by 10.5% in the third quarter. Commerce Bank now owns 442,625 shares of the financial services provider’s stock valued at $20,241,000 after purchasing an additional 42,197 shares during the period. Prospera Private Wealth LLC raised its holdings in shares of U.S. Bancorp by 37.3% in the third quarter. Prospera Private Wealth LLC now owns 23,761 shares of the financial services provider’s stock valued at $1,087,000 after buying an additional 6,450 shares during the last quarter. Finally, Premier Fund Managers Ltd acquired a new stake in shares of U.S. Bancorp during the third quarter worth about $6,889,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other 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 value of $1,225,750.00. Following the sale, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on USB shares. Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a research report on Thursday, October 17th. Wells Fargo & Company boosted their target price on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $54.00 to $57.00 in a report on Monday, September 30th. DA Davidson boosted their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Oppenheimer raised their target price on shares of U.S. Bancorp from $59.00 to $64.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $51.22.

U.S. Bancorp Stock Performance

NYSE USB opened at $52.49 on Friday. The business has a 50 day moving average price of $47.63 and a 200 day moving average price of $44.05. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market capitalization of $81.89 billion, a P/E ratio of 16.05, a PEG ratio of 3.03 and a beta of 1.02. U.S. Bancorp has a 1-year low of $36.49 and a 1-year high of $52.69.

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 (EPS) for the quarter, topping the consensus estimate 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 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 in the previous year, the company posted $1.05 EPS. Sell-side analysts expect that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp announced that its board has initiated a stock 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 purchase up to 7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are 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 dividend yield of 3.81%. 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 is 61.16%.

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.