4,813 Shares in U.S. Bancorp (NYSE:USB) Bought by Inlet Private Wealth LLC

Inlet Private Wealth LLC purchased a new stake in shares of U.S. Bancorp (NYSE:USB) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 4,813 shares of the financial services provider’s stock, valued at approximately $220,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Marshall Wace LLP lifted its stake in U.S. Bancorp by 1,438.4% in the second quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock worth $89,853,000 after acquiring an additional 2,116,175 shares during the period. National Bank of Canada FI boosted its position in U.S. Bancorp by 313.8% in the 2nd quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock worth $105,903,000 after purchasing an additional 2,046,522 shares in the last quarter. BNP Paribas Financial Markets boosted its position in U.S. Bancorp by 88.9% during the first quarter. BNP Paribas Financial Markets now owns 2,331,050 shares of the financial services provider’s stock worth $104,198,000 after purchasing an additional 1,097,179 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of U.S. Bancorp by 16.2% in the first quarter. Clearbridge Investments LLC now owns 6,941,466 shares of the financial services provider’s stock worth $310,284,000 after acquiring an additional 967,143 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in U.S. Bancorp by 15.6% in the 2nd quarter. American Century Companies Inc. now owns 6,846,497 shares of the financial services provider’s stock worth $271,806,000 after purchasing an additional 925,073 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Trading Up 1.5 %

Shares of USB stock traded up $0.75 during mid-day trading on Thursday, hitting $49.96. 6,319,745 shares of the company’s stock were exchanged, compared to its average volume of 8,331,289. The stock has a market cap of $77.96 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 3.32 and a beta of 1.03. The stock has a 50-day simple moving average of $44.94 and a two-hundred day simple moving average of $42.58. U.S. Bancorp has a fifty-two week low of $30.47 and a fifty-two week high of $50.11. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The company had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter last year, the firm posted $1.05 earnings per share. U.S. Bancorp’s revenue was down 2.4% on a year-over-year basis. Equities analysts expect that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.50 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 4.00%. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s payout ratio is currently 66.23%.

U.S. Bancorp announced that its board has initiated a share repurchase plan on Thursday, September 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have commented on USB. Wells Fargo & Company upped their target price on shares of U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. Citigroup lifted their price target on U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. downgraded shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price for the company. in a research note on Thursday, June 27th. Oppenheimer boosted their price objective on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Jefferies Financial Group cut their price objective on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $49.65.

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.