Coerente Capital Management Raises Stake in U.S. Bancorp (NYSE:USB)

Coerente Capital Management boosted its holdings in shares of U.S. Bancorp (NYSE:USB) by 0.3% in the third quarter, HoldingsChannel reports. The fund owned 405,845 shares of the financial services provider’s stock after acquiring an additional 1,034 shares during the period. U.S. Bancorp accounts for 3.5% of Coerente Capital Management’s portfolio, making the stock its 16th biggest holding. Coerente Capital Management’s holdings in U.S. Bancorp were worth $18,559,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of USB. Redwood Wealth Management Group LLC bought a new position in shares of U.S. Bancorp in the second quarter worth approximately $25,000. LRI Investments LLC purchased a new position in U.S. Bancorp in the 1st quarter worth approximately $31,000. Eagle Bay Advisors LLC lifted its position in U.S. Bancorp by 93.2% in the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 331 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in U.S. Bancorp in the 2nd quarter valued at approximately $30,000. Finally, Y.D. More Investments Ltd purchased a new stake in U.S. Bancorp during the 2nd quarter valued at $33,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $48.45 on Friday. The firm has a 50-day moving average price of $45.61 and a 200-day moving average price of $42.77. The firm has a market capitalization of $75.60 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a 12-month low of $30.47 and a 12-month high of $50.47.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating 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 during the quarter, compared to analyst estimates of $6.90 billion. During the same quarter last year, the business posted $1.05 EPS. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, equities research analysts forecast that U.S. Bancorp will post 3.86 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently disclosed 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. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.13%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 66.23%.

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

Wall Street Analysts Forecast Growth

USB has been the topic of a number of research analyst reports. Stephens increased their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Evercore ISI increased their price objective on shares of U.S. Bancorp from $49.00 to $51.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. Robert W. Baird set a $54.00 price objective on shares of U.S. Bancorp in a research note on Thursday, October 17th. UBS Group increased their price objective on shares of U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Finally, StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Thirteen 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, the company has a consensus rating of “Hold” and a consensus target price of $50.72.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the transaction, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.23% of the company’s stock.

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.