Boomfish Wealth Group LLC Has $1.35 Million Stock Holdings in U.S. Bancorp (NYSE:USB)

Boomfish Wealth Group LLC lowered its holdings in shares of U.S. Bancorp (NYSE:USB) by 8.9% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,542 shares of the financial services provider’s stock after selling 2,887 shares during the period. Boomfish Wealth Group LLC’s holdings in U.S. Bancorp were worth $1,351,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Iams Wealth Management LLC boosted its stake in shares of U.S. Bancorp by 3.7% in the 3rd quarter. Iams Wealth Management LLC now owns 34,499 shares of the financial services provider’s stock valued at $1,578,000 after purchasing an additional 1,220 shares in the last quarter. Grove Bank & Trust lifted its stake in U.S. Bancorp by 2,235.2% in the 3rd quarter. Grove Bank & Trust now owns 27,532 shares of the financial services provider’s stock valued at $1,259,000 after purchasing an additional 26,353 shares during the last quarter. Stablepoint Partners LLC boosted its position in U.S. Bancorp by 2.0% in the third quarter. Stablepoint Partners LLC now owns 29,842 shares of the financial services provider’s stock valued at $1,365,000 after buying an additional 578 shares in the last quarter. Procyon Advisors LLC grew its stake in shares of U.S. Bancorp by 4.1% during the third quarter. Procyon Advisors LLC now owns 20,856 shares of the financial services provider’s stock worth $954,000 after buying an additional 823 shares during the last quarter. Finally, Paladin Wealth LLC acquired a new position in shares of U.S. Bancorp during the third quarter worth $44,000. 77.60% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other U.S. Bancorp news, Director Aleem Gillani bought 10,000 shares of U.S. Bancorp stock in a transaction dated Thursday, July 18th. The stock was bought at an average cost of $44.99 per share, with a total value of $449,900.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $449,900. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.23% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

USB has been the topic of several recent research reports. Evercore ISI raised their price objective on U.S. Bancorp from $49.00 to $51.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $54.00 to $57.00 in a report on Monday, September 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $48.00 price objective on shares of U.S. Bancorp in a report on Friday, September 13th. Jefferies Financial Group reduced their target price on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Finally, Wells Fargo & Company raised their price target on shares of U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. Twelve 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, U.S. Bancorp has a consensus rating of “Hold” and a consensus target price of $49.14.

U.S. Bancorp Trading Up 1.9 %

USB opened at $47.16 on Tuesday. The firm has a market capitalization of $73.59 billion, a PE ratio of 15.62, a P/E/G ratio of 3.32 and a beta of 1.03. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. U.S. Bancorp has a fifty-two week low of $30.47 and a fifty-two week high of $47.31. The company’s 50-day moving average is $44.67 and its 200 day moving average is $42.51.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.04. The business had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The business’s revenue was down 4.3% on a year-over-year basis. During the same period last year, the business earned $1.12 EPS. As a group, research analysts predict that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp declared that its board has approved a stock repurchase plan 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 plans are typically an indication that the company’s management believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 4.24%. U.S. Bancorp’s payout ratio is 66.23%.

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.