U.S. Bancorp (NYSE:USB) Position Raised by B.O.S.S. Retirement Advisors LLC

B.O.S.S. Retirement Advisors LLC increased its position in shares of U.S. Bancorp (NYSE:USB) by 4.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,008 shares of the financial services provider’s stock after purchasing an additional 1,638 shares during the period. B.O.S.S. Retirement Advisors LLC’s holdings in U.S. Bancorp were worth $1,921,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in USB. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in shares of U.S. Bancorp by 7.7% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 69,505 shares of the financial services provider’s stock valued at $3,178,000 after buying an additional 4,943 shares in the last quarter. Sumitomo Life Insurance Co. increased its holdings in shares of U.S. Bancorp by 2.6% in the third quarter. Sumitomo Life Insurance Co. now owns 19,099 shares of the financial services provider’s stock valued at $873,000 after buying an additional 481 shares in the last quarter. Sunpointe LLC increased its holdings in shares of U.S. Bancorp by 119.9% in the third quarter. Sunpointe LLC now owns 14,695 shares of the financial services provider’s stock valued at $679,000 after buying an additional 8,013 shares in the last quarter. SeaCrest Wealth Management LLC increased its holdings in shares of U.S. Bancorp by 4.3% in the third quarter. SeaCrest Wealth Management LLC now owns 11,514 shares of the financial services provider’s stock valued at $527,000 after buying an additional 477 shares in the last quarter. Finally, Bill Few Associates Inc. increased its holdings in shares of U.S. Bancorp by 2.4% in the third quarter. Bill Few Associates Inc. now owns 43,329 shares of the financial services provider’s stock valued at $1,981,000 after buying an additional 997 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

USB has been the topic of several research reports. DA Davidson upped their price target on U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. cut U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target on the stock. in a report on Thursday, June 27th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $48.00 price target on shares of U.S. Bancorp in a report on Friday, September 13th. Wells Fargo & Company lifted their price objective on shares of U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. Finally, Morgan Stanley upgraded shares of 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 report on Monday, September 30th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $49.14.

U.S. Bancorp Trading Up 4.7 %

U.S. Bancorp stock opened at $49.21 on Thursday. The company’s fifty day simple moving average is $44.94 and its 200-day simple moving average is $42.58. The company has a quick ratio of 0.80, a current ratio of 0.81 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 $50.11. The stock has a market cap of $76.78 billion, a P/E ratio of 16.29, a P/E/G ratio of 3.32 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.94 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The business had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.81 billion. During the same period in the previous year, the company posted $1.12 EPS. U.S. Bancorp’s revenue was down 4.3% on a year-over-year basis. As a group, sell-side analysts forecast that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is a boost 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 4.06%. U.S. Bancorp’s dividend payout ratio is currently 66.23%.

U.S. Bancorp announced that its Board of Directors has initiated a share buyback program on Thursday, September 12th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

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.