U.S. Bancorp (NYSE:USB) Shares Purchased by Cornerstone Advisors LLC

Cornerstone Advisors LLC boosted its stake in U.S. Bancorp (NYSE:USB) by 1.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 83,100 shares of the financial services provider’s stock after purchasing an additional 1,000 shares during the quarter. Cornerstone Advisors LLC’s holdings in U.S. Bancorp were worth $3,800,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the stock. Natixis Advisors LLC boosted its holdings in U.S. Bancorp by 16.6% in the third quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock valued at $18,348,000 after acquiring an additional 56,990 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of U.S. Bancorp during the 2nd quarter valued at $20,188,000. Janus Henderson Group PLC grew its stake in shares of U.S. Bancorp by 6.4% in the first quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock valued at $12,363,000 after buying an additional 16,686 shares in the last quarter. Comerica Bank boosted its holdings in U.S. Bancorp by 11.2% in the 1st quarter. Comerica Bank now owns 564,443 shares of the financial services provider’s stock worth $25,231,000 after acquiring an additional 56,738 shares during the period. Finally, 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 purchasing an additional 133,498 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on USB. Deutsche Bank Aktiengesellschaft downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective on the stock. in a report on Thursday, October 24th. Wells Fargo & Company boosted their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, November 15th. DA Davidson increased their target price on U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a research report on Thursday, October 17th. Finally, Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $54.00 to $57.00 in a research report on Monday, September 30th. Thirteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, U.S. Bancorp presently has an average rating of “Hold” and an average price target of $51.22.

Insiders Place Their Bets

In related news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction dated 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 completion of the sale, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock opened at $50.74 on Thursday. U.S. Bancorp has a 1-year low of $36.49 and a 1-year high of $51.76. The firm’s 50-day moving average price is $47.33 and its two-hundred day moving average price is $43.91. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $79.16 billion, a price-to-earnings ratio of 15.52, a P/E/G ratio of 2.97 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data 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. The firm had revenue of $6.86 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 EPS. On average, equities analysts predict that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.94%. 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. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

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