Claro Advisors LLC Buys 1,230 Shares of U.S. Bancorp (NYSE:USB)

Claro Advisors LLC grew its position in shares of U.S. Bancorp (NYSE:USB) by 2.0% in the 3rd quarter, Holdings Channel reports. The firm owned 64,004 shares of the financial services provider’s stock after acquiring an additional 1,230 shares during the quarter. Claro Advisors LLC’s holdings in U.S. Bancorp were worth $2,927,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Redwood Wealth Management Group LLC bought a new position in U.S. Bancorp during the second quarter worth $25,000. Frazier Financial Advisors LLC grew its holdings in U.S. Bancorp by 222.7% during the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 441 shares during the period. LRI Investments LLC acquired a new stake in U.S. Bancorp during the 1st quarter worth about $31,000. 1620 Investment Advisors Inc. bought a new position in shares of U.S. Bancorp in the 2nd quarter worth about $30,000. Finally, Y.D. More Investments Ltd acquired a new position in shares of U.S. Bancorp in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Oppenheimer lifted their target price on U.S. Bancorp from $59.00 to $64.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. The Goldman Sachs Group dropped their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Barclays raised 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. Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a research report on Thursday, October 17th. Finally, Evercore ISI boosted their target price on U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, U.S. Bancorp currently has a consensus rating of “Hold” and a consensus target price of $51.22.

U.S. Bancorp Stock Down 0.8 %

USB opened at $49.90 on Friday. U.S. Bancorp has a fifty-two week low of $36.49 and a fifty-two week high of $51.76. The firm has a market capitalization of $77.85 billion, a P/E ratio of 15.26, a PEG ratio of 2.94 and a beta of 1.02. The company’s 50-day moving average is $46.99 and its 200 day moving average is $43.71. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last posted 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 firm had revenue of $6.86 billion for the quarter, compared to analysts’ expectations 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 last year, the firm earned $1.05 EPS. Research analysts expect that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp declared that its board has approved a stock repurchase plan on Thursday, September 12th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend 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%.

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.