U.S. Bancorp (NYSE:USB) Shares Purchased by Forsta AP Fonden

Forsta AP Fonden increased its holdings in shares of U.S. Bancorp (NYSE:USB) by 9.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 327,100 shares of the financial services provider’s stock after acquiring an additional 27,900 shares during the period. Forsta AP Fonden’s holdings in U.S. Bancorp were worth $14,958,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of USB. Redwood Wealth Management Group LLC acquired a new position in U.S. Bancorp during the second quarter worth $25,000. 1620 Investment Advisors Inc. acquired a new stake in U.S. Bancorp in the second quarter valued at $30,000. Eagle Bay Advisors LLC grew its holdings in U.S. Bancorp by 93.2% in the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 331 shares during the last quarter. LRI Investments LLC acquired a new stake in U.S. Bancorp in the first quarter valued at $31,000. Finally, Y.D. More Investments Ltd acquired a new stake in U.S. Bancorp in the second quarter valued at $33,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

U.S. Bancorp stock opened at $47.74 on Friday. The stock’s 50-day moving average is $45.81 and its 200-day moving average is $42.83. The company has a market cap of $74.50 billion, a price-to-earnings ratio of 15.81, a price-to-earnings-growth ratio of 2.85 and a beta of 1.03. 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 $30.47 and a 12 month high of $50.47.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The company had revenue of $6.86 billion for 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 company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the business posted $1.05 EPS. Equities analysts anticipate that U.S. Bancorp will post 3.9 earnings per share for the current year.

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

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.19%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is 66.23%.

Insider Transactions at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the 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 owns 129,790 shares in the company, valued at approximately $6,363,603.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on USB. The Goldman Sachs Group lowered their target price on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Wells Fargo & Company upped their target price on U.S. Bancorp from $52.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Stephens upped their target price on U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. DA Davidson increased their price objective on U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Barclays increased their price objective on U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $50.72.

About U.S. Bancorp

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.