Kingsview Wealth Management LLC Has $3.77 Million Stake in U.S. Bancorp (NYSE:USB)

Kingsview Wealth Management LLC grew its position in U.S. Bancorp (NYSE:USB) by 3.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 82,499 shares of the financial services provider’s stock after purchasing an additional 3,013 shares during the quarter. Kingsview Wealth Management LLC’s holdings in U.S. Bancorp were worth $3,773,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Redwood Wealth Management Group LLC bought a new stake in U.S. Bancorp during the second quarter worth $25,000. Frazier Financial Advisors LLC raised its holdings in shares of 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 buying an additional 441 shares in the last quarter. LRI Investments LLC bought a new stake in shares of U.S. Bancorp during the 1st quarter worth $31,000. 1620 Investment Advisors Inc. acquired a new stake in U.S. Bancorp in the second quarter valued at about $30,000. Finally, Y.D. More Investments Ltd bought a new position in U.S. Bancorp in the second quarter valued at about $33,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Trading Up 2.1 %

USB opened at $52.49 on Monday. The stock has a market cap of $81.89 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 3.03 and a beta of 1.02. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a twelve month low of $36.49 and a twelve month high of $52.69. The company has a fifty day moving average of $47.63 and a 200-day moving average of $44.06.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping 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 firm had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same period last year, the company posted $1.05 EPS. The business’s quarterly revenue was down 2.4% on a year-over-year basis. On average, sell-side analysts predict that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp declared that its Board of Directors has initiated a stock 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 an indication that the company’s board believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.50 dividend. 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. This represents a $2.00 annualized dividend and a yield of 3.81%. U.S. Bancorp’s payout ratio is 61.16%.

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction dated 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 $6,363,603.70. This represents a 16.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $54.00 to $57.00 in a report on Monday, September 30th. Deutsche Bank Aktiengesellschaft lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a research report on Thursday, October 24th. Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a research note on Thursday, October 17th. Wells Fargo & Company boosted their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, The Goldman Sachs Group dropped their target price 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. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $51.22.

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.