Encompass More Asset Management Acquires New Shares in U.S. Bancorp (NYSE:USB)

Encompass More Asset Management bought a new position in U.S. Bancorp (NYSE:USB) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 5,033 shares of the financial services provider’s stock, valued at approximately $230,000.

Several other hedge funds have also recently modified their holdings of USB. Redwood Wealth Management Group LLC purchased a new position in U.S. Bancorp in the 2nd quarter worth about $25,000. Frazier Financial Advisors LLC grew its stake in shares of U.S. Bancorp by 222.7% in the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 441 shares during the period. 1620 Investment Advisors Inc. bought a new position in U.S. Bancorp during the second quarter valued at approximately $30,000. LRI Investments LLC bought a new position in U.S. Bancorp during the first quarter valued at approximately $31,000. Finally, Y.D. More Investments Ltd purchased a new stake in U.S. Bancorp in the second quarter worth approximately $33,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the firm’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 transaction, the insider now owns 129,790 shares in the company, valued at $6,363,603.70. This trade represents a 16.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

USB has been the topic of several research analyst reports. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a report on Thursday, October 17th. Royal Bank of Canada set a $53.00 target price on U.S. Bancorp in a report on Thursday, October 17th. The Goldman Sachs Group cut their price target on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. DA Davidson raised their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Barclays increased their price target on shares of U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Twelve investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $52.02.

U.S. Bancorp Stock Performance

NYSE USB opened at $53.29 on Friday. The business has a 50-day moving average price of $48.44 and a 200-day moving average price of $44.46. The firm has a market cap of $83.13 billion, a price-to-earnings ratio of 16.30, a price-to-earnings-growth ratio of 3.14 and a beta of 1.02. U.S. Bancorp has a twelve month low of $37.67 and a twelve month high of $53.98. 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 for the quarter, topping the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The business had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the prior year, the company posted $1.05 EPS. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, equities research analysts predict that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp declared that its board has authorized a share repurchase plan on Thursday, September 12th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.50 dividend. 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 yield of 3.75%. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s payout ratio is currently 61.16%.

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.