Keudell Morrison Wealth Management Buys 1,153 Shares of U.S. Bancorp (NYSE:USB)

Keudell Morrison Wealth Management lifted its stake in shares of U.S. Bancorp (NYSE:USB) by 1.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,949 shares of the financial services provider’s stock after purchasing an additional 1,153 shares during the quarter. U.S. Bancorp accounts for about 0.9% of Keudell Morrison Wealth Management’s portfolio, making the stock its 25th largest position. Keudell Morrison Wealth Management’s holdings in U.S. Bancorp were worth $3,199,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Redwood Wealth Management Group LLC bought a new stake in shares of U.S. Bancorp during the second quarter worth about $25,000. 1620 Investment Advisors Inc. acquired a new stake in U.S. Bancorp during the 2nd quarter worth approximately $30,000. Eagle Bay Advisors LLC grew 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. LRI Investments LLC acquired a new position in U.S. Bancorp in the 1st quarter valued at approximately $31,000. Finally, Y.D. More Investments Ltd bought a new position in shares of U.S. Bancorp during the second quarter valued at $33,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on USB. DA Davidson increased their price objective on U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Stephens increased their price target on U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $54.00 to $57.00 in a research note on Monday, September 30th. Citigroup upped their target price on U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Finally, Wells Fargo & Company raised their price target on shares of U.S. Bancorp from $52.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, U.S. Bancorp currently has an average rating of “Hold” and an average target price of $51.12.

U.S. Bancorp Stock Down 1.4 %

NYSE:USB traded down $0.73 on Thursday, hitting $50.53. The stock had a trading volume of 956,066 shares, compared to its average volume of 8,307,219. The company has a market cap of $78.85 billion, a PE ratio of 15.68, a P/E/G ratio of 2.79 and a beta of 1.02. U.S. Bancorp has a 52 week low of $33.61 and a 52 week high of $51.76. The business’s fifty day moving average is $46.40 and its 200 day moving average is $43.25. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04.

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 (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $6.90 billion. During the same quarter last year, the firm posted $1.05 EPS. U.S. Bancorp’s revenue was down 2.4% compared to the same quarter last year. On average, equities research analysts expect that U.S. Bancorp will post 3.92 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

U.S. Bancorp announced that its board has initiated a stock buyback program on Thursday, September 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the sale, the insider now directly owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.23% of the stock is owned by insiders.

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.