U.S. Bancorp (NYSE:USB) Shares Acquired by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC boosted its stake in U.S. Bancorp (NYSE:USB) by 15.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 10,124 shares of the financial services provider’s stock after buying an additional 1,350 shares during the period. TrinityPoint Wealth LLC’s holdings in U.S. Bancorp were worth $463,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in USB. Los Angeles Capital Management LLC raised its stake in shares of U.S. Bancorp by 723.7% in the 3rd quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock valued at $146,864,000 after purchasing an additional 2,821,642 shares in the last quarter. Marshall Wace LLP raised its stake in U.S. Bancorp by 1,438.4% during the second quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock valued at $89,853,000 after buying an additional 2,116,175 shares in the last quarter. National Bank of Canada FI lifted its holdings in U.S. Bancorp by 313.8% during the 2nd quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock worth $105,903,000 after buying an additional 2,046,522 shares during the last quarter. Bridges Investment Management Inc. grew its position in shares of U.S. Bancorp by 1,554.3% in the 3rd quarter. Bridges Investment Management Inc. now owns 1,503,638 shares of the financial services provider’s stock worth $68,761,000 after acquiring an additional 1,412,743 shares in the last quarter. Finally, Cambiar Investors LLC bought a new stake in shares of U.S. Bancorp in the 3rd quarter valued at approximately $43,619,000. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $50.61 on Tuesday. U.S. Bancorp has a 1 year low of $36.49 and a 1 year high of $51.76. The firm has a market cap of $78.95 billion, a P/E ratio of 15.48, a PEG ratio of 2.94 and a beta of 1.02. The stock has a fifty day moving average price of $47.10 and a two-hundred day moving average price of $43.79. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The business had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter last year, the business posted $1.05 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis. Research analysts forecast that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp announced that its Board of Directors has approved a stock repurchase 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 repurchase up to 7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.50 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s payout ratio is presently 61.16%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp 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 transaction, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on USB shares. Wells Fargo & Company raised their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday. Stephens lifted their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Oppenheimer increased their price objective 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. Evercore ISI upped their target price on U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group dropped their price target on 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. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $51.22.

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.