U.S. Bancorp (NYSE:USB) Position Lifted by Prospera Private Wealth LLC

Prospera Private Wealth LLC grew its stake in U.S. Bancorp (NYSE:USB) by 37.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,761 shares of the financial services provider’s stock after purchasing an additional 6,450 shares during the quarter. Prospera Private Wealth LLC’s holdings in U.S. Bancorp were worth $1,087,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Intech Investment Management LLC increased its stake in U.S. Bancorp by 44.6% during the first quarter. Intech Investment Management LLC now owns 9,373 shares of the financial services provider’s stock valued at $419,000 after purchasing an additional 2,889 shares during the last quarter. UniSuper Management Pty Ltd boosted its stake in U.S. Bancorp by 1,140.5% in the first quarter. UniSuper Management Pty Ltd now owns 20,382 shares of the financial services provider’s stock valued at $911,000 after acquiring an additional 18,739 shares during the period. Bessemer Group Inc. grew its holdings in shares of U.S. Bancorp by 170.5% during the first quarter. Bessemer Group Inc. now owns 153,986 shares of the financial services provider’s stock valued at $6,883,000 after purchasing an additional 97,060 shares during the last quarter. Lake Street Advisors Group LLC raised its position in shares of U.S. Bancorp by 44.9% during the 1st quarter. Lake Street Advisors Group LLC now owns 10,962 shares of the financial services provider’s stock worth $495,000 after purchasing an additional 3,396 shares during the period. Finally, National Bank of Canada FI lifted its holdings in shares of U.S. Bancorp by 6.3% in the 1st quarter. National Bank of Canada FI now owns 652,120 shares of the financial services provider’s stock worth $27,280,000 after purchasing an additional 38,547 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

USB has been the topic of a number of recent research reports. Barclays raised their target price 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. Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a research note on Thursday, October 17th. DA Davidson boosted their price objective on U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. The Goldman Sachs Group reduced their price target on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Finally, Evercore ISI lifted their price objective on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Thirteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $51.22.

U.S. Bancorp Trading Down 0.4 %

NYSE USB opened at $50.41 on Wednesday. U.S. Bancorp has a twelve month low of $36.49 and a twelve month high of $51.76. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $78.64 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 2.94 and a beta of 1.02. The firm’s 50 day moving average price is $47.21 and its two-hundred day moving average price is $43.86.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The firm had revenue of $6.86 billion during the quarter, compared to analyst estimates 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 quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the company posted $1.05 EPS. Equities analysts anticipate that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp Increases Dividend

The business 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 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

U.S. Bancorp declared that its board has approved a share repurchase program 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 programs are usually a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction on Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the sale, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.

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.