Moss Adams Wealth Advisors LLC Boosts Holdings in U.S. Bancorp (NYSE:USB)

Moss Adams Wealth Advisors LLC increased its stake in shares of U.S. Bancorp (NYSE:USB) by 8.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,520 shares of the financial services provider’s stock after acquiring an additional 649 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in U.S. Bancorp were worth $394,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of USB. Banque Cantonale Vaudoise boosted its position in shares of U.S. Bancorp by 49.0% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,034 shares of the financial services provider’s stock valued at $270,000 after purchasing an additional 1,983 shares during the period. Wedmont Private Capital boosted its holdings in shares of U.S. Bancorp by 3.9% in the first quarter. Wedmont Private Capital now owns 16,118 shares of the financial services provider’s stock valued at $708,000 after acquiring an additional 611 shares during the period. Gulf International Bank UK Ltd boosted its holdings in shares of U.S. Bancorp by 10.4% in the first quarter. Gulf International Bank UK Ltd now owns 139,030 shares of the financial services provider’s stock valued at $6,214,000 after acquiring an additional 13,092 shares during the period. &PARTNERS purchased a new position in shares of U.S. Bancorp during the first quarter worth approximately $281,000. Finally, Paragon Capital Management Ltd increased its holdings in shares of U.S. Bancorp by 18.9% in the 1st quarter. Paragon Capital Management Ltd now owns 7,996 shares of the financial services provider’s stock valued at $357,000 after acquiring an additional 1,270 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

USB has been the topic of several research reports. Stephens raised their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday. UBS Group upped their price objective on U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Jefferies Financial Group decreased their price objective on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Barclays boosted their target price on U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Robert W. Baird set a $54.00 price target on U.S. Bancorp in a report on Thursday. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $50.71.

U.S. Bancorp Stock Down 1.6 %

USB stock opened at $49.16 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. The company’s 50-day moving average price is $45.24 and its 200 day moving average price is $42.66. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $50.47. The company has a market cap of $76.71 billion, a P/E ratio of 16.28, a P/E/G ratio of 3.32 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last announced its quarterly 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. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same quarter in the previous year, the company earned $1.05 EPS. The company’s quarterly revenue was down 2.4% on a year-over-year basis. On average, research analysts expect that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.50 dividend. The ex-dividend date was Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.07%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio (DPR) is currently 66.23%.

U.S. Bancorp announced that its Board of Directors has initiated a stock repurchase plan on Thursday, September 12th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.