B. Riley Wealth Advisors Inc. Increases Stake in U.S. Bancorp (NYSE:USB)

B. Riley Wealth Advisors Inc. increased its holdings in U.S. Bancorp (NYSE:USB) by 1.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,987 shares of the financial services provider’s stock after purchasing an additional 488 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in U.S. Bancorp were worth $1,687,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in USB. Redwood Wealth Management Group LLC purchased a new position in shares of U.S. Bancorp in the second quarter worth about $25,000. Frazier Financial Advisors LLC grew its position in 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 acquiring an additional 441 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new position in U.S. Bancorp in the 2nd quarter worth approximately $30,000. Y.D. More Investments Ltd bought a new stake in U.S. Bancorp in the second quarter valued at approximately $33,000. Finally, Kimelman & Baird LLC purchased a new stake in shares of U.S. Bancorp during the second quarter valued at approximately $40,000. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Performance

U.S. Bancorp stock opened at $51.35 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The stock’s 50 day moving average is $49.93 and its 200 day moving average is $45.35. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The company has a market capitalization of $80.11 billion, a P/E ratio of 15.70, a PEG ratio of 3.03 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same period last year, the business earned $1.05 EPS. U.S. Bancorp’s revenue was down 2.4% compared to the same quarter last year. On average, equities research analysts predict that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp declared that its board has initiated a share buyback 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 purchase up to 7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.50 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.89%. U.S. Bancorp’s dividend payout ratio is presently 61.16%.

Insider Activity

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the sale, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. The trade was a 16.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on USB shares. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $54.00 to $57.00 in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective for the company. in a research note on Thursday, October 24th. Citigroup raised U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their target price for the stock from $49.00 to $65.00 in a research note on Monday, November 25th. Barclays boosted their price target on U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, Stephens increased their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Eleven 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, U.S. Bancorp currently has a consensus rating of “Hold” and a consensus price target of $53.50.

U.S. Bancorp 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.