Philip James Wealth Mangement LLC Invests $6.41 Million in U.S. Bancorp (NYSE:USB)

Philip James Wealth Mangement LLC bought a new stake in U.S. Bancorp (NYSE:USB) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 140,260 shares of the financial services provider’s stock, valued at approximately $6,414,000. U.S. Bancorp comprises about 0.8% of Philip James Wealth Mangement LLC’s holdings, making the stock its 28th largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of USB. Vista Capital Partners Inc. acquired a new position in U.S. Bancorp in the third quarter valued at $213,000. Sittner & Nelson LLC boosted its position in shares of U.S. Bancorp by 5.9% in the 3rd quarter. Sittner & Nelson LLC now owns 23,774 shares of the financial services provider’s stock valued at $1,087,000 after purchasing an additional 1,316 shares during the period. Portside Wealth Group LLC boosted its position in shares of U.S. Bancorp by 7.1% in the 3rd quarter. Portside Wealth Group LLC now owns 40,718 shares of the financial services provider’s stock valued at $1,862,000 after purchasing an additional 2,696 shares during the period. Western Pacific Wealth Management LP grew its stake in U.S. Bancorp by 45.7% during the 3rd quarter. Western Pacific Wealth Management LP now owns 5,100 shares of the financial services provider’s stock worth $233,000 after buying an additional 1,600 shares during the last quarter. Finally, Keudell Morrison Wealth Management increased its position in U.S. Bancorp by 1.7% during the third quarter. Keudell Morrison Wealth Management now owns 69,949 shares of the financial services provider’s stock worth $3,199,000 after buying an additional 1,153 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

USB has been the topic of a number of research reports. Stephens raised their target price 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, October 17th. Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a research note on Thursday, October 17th. The Goldman Sachs Group dropped their price objective on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Oppenheimer boosted their target price on U.S. Bancorp from $59.00 to $64.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Evercore ISI raised their price target on U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $51.12.

U.S. Bancorp Trading Up 0.1 %

USB traded up $0.07 during trading on Friday, hitting $49.63. The company’s stock had a trading volume of 378,239 shares, compared to its average volume of 8,312,376. The stock has a market cap of $77.45 billion, a PE ratio of 15.16, a PEG ratio of 2.79 and a beta of 1.02. 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 has a twelve month low of $33.61 and a twelve month high of $51.76. The firm’s 50 day moving average price is $46.40 and its 200-day moving average price is $43.25.

U.S. Bancorp (NYSE:USB) last issued 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 firm had revenue of $6.86 billion for 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 firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the company earned $1.05 EPS. On average, analysts expect that U.S. Bancorp will post 3.92 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.50 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. This represents a $2.00 annualized dividend and a yield of 4.03%. U.S. Bancorp’s dividend payout ratio is 61.16%.

U.S. Bancorp declared that its Board of Directors has authorized a share repurchase plan on Thursday, September 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership 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 value of $1,225,750.00. Following the transaction, the insider now owns 129,790 shares in the company, valued at approximately $6,363,603.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is currently owned by insiders.

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.