Dynamic Technology Lab Private Ltd Acquires New Holdings in U.S. Bancorp (NYSE:USB)

Dynamic Technology Lab Private Ltd bought a new position in U.S. Bancorp (NYSE:USB) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 54,703 shares of the financial services provider’s stock, valued at approximately $2,502,000.

Several other large investors have also recently bought and sold shares of the company. Redwood Wealth Management Group LLC purchased a new stake in shares of U.S. Bancorp in the second quarter worth $25,000. Frazier Financial Advisors LLC grew its position in U.S. Bancorp by 222.7% during the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after buying an additional 441 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in U.S. Bancorp in the 2nd quarter worth about $30,000. LRI Investments LLC purchased a new stake in shares of U.S. Bancorp in the 1st quarter valued at about $31,000. Finally, Y.D. More Investments Ltd bought a new stake in shares of U.S. Bancorp during the 2nd quarter valued at about $33,000. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Up 2.1 %

Shares of U.S. Bancorp stock opened at $52.49 on Monday. 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 has a 52-week low of $36.49 and a 52-week high of $52.69. The company’s 50 day moving average price is $47.63 and its 200-day moving average price is $44.06. The stock has a market capitalization of $81.89 billion, a price-to-earnings ratio of 16.05, a P/E/G ratio of 3.10 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) 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 analyst estimates 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 revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.05 EPS. Equities research analysts forecast that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.81%. 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 payout ratio is currently 61.16%.

U.S. Bancorp announced that its board has authorized a stock 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 buy up to 7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on USB. Oppenheimer upped 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 report on Tuesday, November 5th. DA Davidson increased their price target on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Wells Fargo & Company lifted their price objective on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. The Goldman Sachs Group cut their target price on shares of 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, Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $54.00 to $57.00 in a research report on Monday, September 30th. Thirteen equities research 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 a consensus rating of “Hold” and an average price target of $51.22.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp 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 directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is currently owned by corporate insiders.

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.