Quad Cities Investment Group LLC Has $912,000 Stake in U.S. Bancorp (NYSE:USB)

Quad Cities Investment Group LLC lessened its stake in shares of U.S. Bancorp (NYSE:USB) by 3.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 19,950 shares of the financial services provider’s stock after selling 757 shares during the period. Quad Cities Investment Group LLC’s holdings in U.S. Bancorp were worth $912,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Redwood Wealth Management Group LLC bought a new position in shares of U.S. Bancorp in the second quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. bought a new position in U.S. Bancorp during the 1st quarter valued at $30,000. 1620 Investment Advisors Inc. bought a new position in U.S. Bancorp during the 2nd quarter valued at $30,000. Eagle Bay Advisors LLC boosted its holdings 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 worth $31,000 after acquiring an additional 331 shares during the last quarter. Finally, LRI Investments LLC bought a new stake in shares of U.S. Bancorp in the 1st quarter worth $31,000. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Trading Up 1.5 %

Shares of USB stock traded up $0.75 during trading on Thursday, hitting $49.96. 5,760,433 shares of the stock traded hands, compared to its average volume of 8,328,507. The firm has a market capitalization of $77.96 billion, a P/E ratio of 16.50, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03. U.S. Bancorp has a 52-week low of $30.47 and a 52-week high of $50.11. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. The firm’s fifty day moving average price is $44.94 and its 200-day moving average price is $42.58.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. 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 posted $1.05 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, research analysts forecast 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 share repurchase plan on Thursday, September 12th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

U.S. Bancorp Increases Dividend

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

Analysts Set New Price Targets

A number of analysts recently commented on the company. Evercore ISI lifted their price target on U.S. Bancorp from $49.00 to $51.00 and gave the stock an “in-line” rating in a report 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 report on Thursday, July 18th. Oppenheimer increased their target price on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company an “outperform” rating in a research report on Thursday. UBS Group upped their price objective on U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Finally, Jefferies Financial Group cut their price target on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Hold” and a consensus price target of $49.65.

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.