UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stake in U.S. Bancorp (NYSE:USB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in U.S. Bancorp (NYSE:USB) by 4.0% in the 3rd quarter, Holdings Channel reports. The firm owned 11,235,426 shares of the financial services provider’s stock after buying an additional 436,252 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in U.S. Bancorp were worth $513,796,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Redwood Wealth Management Group LLC purchased a new stake in shares of U.S. Bancorp in the 2nd quarter valued at about $25,000. Frazier Financial Advisors LLC lifted its holdings in shares of U.S. Bancorp by 222.7% in the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 441 shares during the last quarter. LRI Investments LLC purchased a new stake in shares of U.S. Bancorp in the 1st quarter valued at about $31,000. 1620 Investment Advisors Inc. purchased a new stake in shares of U.S. Bancorp in the 2nd quarter valued at about $30,000. Finally, Y.D. More Investments Ltd purchased a new stake in shares of U.S. Bancorp in the 2nd quarter valued at about $33,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Jodi L. Richard sold 25,000 shares of the company’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 value of $1,225,750.00. Following the sale, the insider now owns 129,790 shares in the company, valued at $6,363,603.70. This represents a 16.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

USB opened at $53.48 on Friday. The stock has a market cap of $83.43 billion, a P/E ratio of 16.35, a P/E/G ratio of 3.16 and a beta of 1.02. 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 stock’s 50 day simple moving average is $48.30 and its 200 day simple moving average is $44.36. U.S. Bancorp has a 1-year low of $36.49 and a 1-year high of $53.98.

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. The business had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.05 EPS. As a group, equities analysts anticipate that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp announced that its board has initiated a share repurchase plan on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are 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 issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.74%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Robert W. Baird set a $54.00 target price on U.S. Bancorp in a report on Thursday, October 17th. DA Davidson upped their price objective on U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Wells Fargo & Company upped their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Barclays upped their price objective on U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, The Goldman Sachs Group reduced their price objective on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Twelve investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $52.02.

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.