U.S. Bancorp (NYSE:USB) Shares Purchased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC raised its holdings in shares of U.S. Bancorp (NYSE:USB) by 69.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,867 shares of the financial services provider’s stock after purchasing an additional 21,346 shares during the period. Frank Rimerman Advisors LLC’s holdings in U.S. Bancorp were worth $2,372,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. LVW Advisors LLC boosted its stake in U.S. Bancorp by 37.0% in the first quarter. LVW Advisors LLC now owns 39,300 shares of the financial services provider’s stock valued at $1,757,000 after acquiring an additional 10,612 shares during the period. Kowal Investment Group LLC boosted its position in U.S. Bancorp by 3.5% during the 1st quarter. Kowal Investment Group LLC now owns 51,899 shares of the financial services provider’s stock valued at $2,320,000 after purchasing an additional 1,736 shares during the period. Applied Capital LLC FL grew its stake in U.S. Bancorp by 3.3% during the 1st quarter. Applied Capital LLC FL now owns 30,601 shares of the financial services provider’s stock worth $1,368,000 after buying an additional 986 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in U.S. Bancorp by 0.8% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,686,118 shares of the financial services provider’s stock worth $164,769,000 after buying an additional 30,922 shares during the period. Finally, Caldwell Sutter Capital Inc. lifted its stake in U.S. Bancorp by 3.7% in the first quarter. Caldwell Sutter Capital Inc. now owns 10,528 shares of the financial services provider’s stock valued at $471,000 after buying an additional 372 shares during the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

USB has been the topic of a number of analyst reports. Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a report on Thursday, October 17th. Wells Fargo & Company raised their price target on shares of U.S. Bancorp from $52.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $54.00 to $57.00 in a research report on Monday, September 30th. StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Robert W. Baird set a $54.00 price target on U.S. Bancorp in a research note on Thursday, October 17th. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Hold” and an average target price of $50.72.

U.S. Bancorp Trading Down 1.5 %

U.S. Bancorp stock opened at $47.74 on Friday. U.S. Bancorp has a one year low of $30.47 and a one year high of $50.47. The company’s fifty day moving average price is $45.81 and its two-hundred day moving average price is $42.83. The company has a market capitalization of $74.50 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 2.85 and a beta of 1.03. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last posted its earnings results 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 in the previous year, the company earned $1.05 EPS. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, analysts forecast that U.S. Bancorp will post 3.9 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors 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 dividend on an annualized basis and a yield of 4.19%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 66.23%.

U.S. Bancorp announced that its Board of Directors has authorized a stock repurchase plan on Thursday, September 12th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the company’s 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 completion of the sale, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.23% of the company’s stock.

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.