Pointe Capital Management LLC Purchases New Position in U.S. Bancorp (NYSE:USB)

Pointe Capital Management LLC purchased a new stake in U.S. Bancorp (NYSE:USB) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 4,573 shares of the financial services provider’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Manning & Napier Advisors LLC purchased a new stake in shares of U.S. Bancorp in the second quarter valued at about $20,188,000. Mission Wealth Management LP raised its holdings in shares of U.S. Bancorp by 200.7% in the first quarter. Mission Wealth Management LP now owns 18,273 shares of the financial services provider’s stock valued at $817,000 after buying an additional 12,197 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of U.S. Bancorp by 6.4% in the first quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock valued at $12,363,000 after buying an additional 16,686 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of U.S. Bancorp by 90.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 862,317 shares of the financial services provider’s stock valued at $36,676,000 after buying an additional 409,192 shares during the last quarter. Finally, Koshinski Asset Management Inc. purchased a new stake in shares of U.S. Bancorp in the first quarter valued at about $732,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

Shares of USB stock traded down $0.71 during trading hours on Friday, hitting $47.74. The company’s stock had a trading volume of 6,601,339 shares, compared to its average volume of 8,435,131. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The stock has a market cap of $74.50 billion, a price-to-earnings ratio of 15.81, a P/E/G ratio of 2.85 and a beta of 1.03. The business has a fifty day moving average of $45.81 and a 200-day moving average of $42.83. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $50.47.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 12.92% and a return on equity of 12.91%. The company’s quarterly 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 earnings per share. As a group, equities research analysts anticipate that U.S. Bancorp will post 3.9 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.50 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.19%. U.S. Bancorp’s dividend payout ratio is presently 66.23%.

U.S. Bancorp declared that its board has authorized a share buyback program on Thursday, September 12th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on USB. Deutsche Bank Aktiengesellschaft cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a report on Thursday. Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a report on Thursday, October 17th. The Goldman Sachs Group cut their price target on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Stephens increased their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Finally, Barclays increased their price target on shares of U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” 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.com, the stock has a consensus rating of “Hold” and an average price target of $50.72.

Insider Activity at U.S. Bancorp

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 shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the transaction, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.23% of the company’s stock.

About U.S. Bancorp

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.