U.S. Bancorp (NYSE:USB) Shares Acquired by Lynch & Associates IN

Lynch & Associates IN raised its stake in shares of U.S. Bancorp (NYSE:USB) by 2.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 65,955 shares of the financial services provider’s stock after buying an additional 1,575 shares during the period. Lynch & Associates IN’s holdings in U.S. Bancorp were worth $3,016,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Redwood Wealth Management Group LLC acquired a new position in U.S. Bancorp during the 2nd quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. acquired a new position in U.S. Bancorp during the 1st quarter valued at about $30,000. LRI Investments LLC acquired a new position in U.S. Bancorp during the 1st quarter valued at about $31,000. Eagle Bay Advisors LLC increased its stake in U.S. Bancorp by 93.2% during the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after buying an additional 331 shares during the period. Finally, 1620 Investment Advisors Inc. acquired a new position in U.S. Bancorp during the 2nd quarter valued at about $30,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Ratings Changes

USB has been the topic of several research analyst reports. StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Oppenheimer raised their target price on shares of U.S. Bancorp from $54.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. DA Davidson lifted their price objective on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Evercore ISI lifted their price objective on shares of U.S. Bancorp from $49.00 to $51.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. Finally, Jefferies Financial Group lowered their price objective on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $49.14.

U.S. Bancorp Stock Performance

Shares of USB opened at $47.00 on Wednesday. U.S. Bancorp has a one year low of $30.47 and a one year high of $48.08. The company has a 50-day moving average of $44.78 and a two-hundred day moving average of $42.53. The stock has a market cap of $73.34 billion, a price-to-earnings ratio of 15.56, a PEG 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 (NYSE:USB) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.94 by $0.04. The business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period last year, the company posted $1.12 earnings per share. On average, equities research analysts expect that U.S. Bancorp will post 3.86 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 issued a dividend of $0.50 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 4.26%. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 66.23%.

U.S. Bancorp declared 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 outstanding shares. This buyback authorization allows the financial services provider to buy up to 7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, Director Aleem Gillani purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was acquired at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at $449,900. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Company 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.