Goodman Advisory Group LLC Purchases 6,976 Shares of U.S. Bancorp (NYSE:USB)

Goodman Advisory Group LLC increased its position in U.S. Bancorp (NYSE:USB) by 6.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 121,066 shares of the financial services provider’s stock after buying an additional 6,976 shares during the period. U.S. Bancorp comprises approximately 1.6% of Goodman Advisory Group LLC’s holdings, making the stock its 19th largest position. Goodman Advisory Group LLC’s holdings in U.S. Bancorp were worth $5,536,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Lantz Financial LLC boosted its position in shares of U.S. Bancorp by 4.7% during the second quarter. Lantz Financial LLC now owns 48,116 shares of the financial services provider’s stock worth $1,910,000 after acquiring an additional 2,179 shares during the last quarter. Wedmont Private Capital boosted its stake in U.S. Bancorp by 12.4% during the second quarter. Wedmont Private Capital now owns 18,109 shares of the financial services provider’s stock valued at $762,000 after buying an additional 1,991 shares during the last quarter. M&G Plc grew its holdings in U.S. Bancorp by 73.9% during the 2nd quarter. M&G Plc now owns 314,241 shares of the financial services provider’s stock valued at $12,570,000 after buying an additional 133,498 shares in the last quarter. Diversified Trust Co bought a new stake in U.S. Bancorp in the 2nd quarter worth approximately $735,000. Finally, Great Valley Advisor Group Inc. raised its holdings in shares of U.S. Bancorp by 8.2% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 114,525 shares of the financial services provider’s stock worth $4,547,000 after acquiring an additional 8,679 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the sale, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $51.34 on Tuesday. The business has a 50-day moving average of $49.24 and a 200 day moving average of $44.95. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98. The stock has a market capitalization of $80.08 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 3.08 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last issued its 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. The business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the company earned $1.05 EPS. As a group, sell-side analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp announced that its board has approved a share repurchase program on Thursday, September 12th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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. 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 annualized dividend and a dividend yield of 3.90%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 61.16%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on USB shares. DA Davidson boosted their price target on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Oppenheimer upped their target price on shares of U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a research report on Thursday, October 24th. Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a report on Thursday, October 17th. Finally, Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $54.00 to $57.00 in a research report on Monday, September 30th. Twelve research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Hold” and an average target price of $52.72.

U.S. Bancorp 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.