Brooklyn Investment Group Raises Holdings in U.S. Bancorp (NYSE:USB)

Brooklyn Investment Group boosted its stake in shares of U.S. Bancorp (NYSE:USB) by 4.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,792 shares of the financial services provider’s stock after buying an additional 201 shares during the period. Brooklyn Investment Group’s holdings in U.S. Bancorp were worth $219,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. McAdam LLC boosted its position in U.S. Bancorp by 2.5% during the third quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock valued at $389,000 after purchasing an additional 209 shares in the last quarter. Covestor Ltd grew its position in shares of U.S. Bancorp by 15.2% in the 3rd quarter. Covestor Ltd now owns 1,741 shares of the financial services provider’s stock worth $80,000 after buying an additional 230 shares during the last quarter. Valmark Advisers Inc. raised its stake in shares of U.S. Bancorp by 2.9% during the 2nd quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock worth $346,000 after acquiring an additional 242 shares in the last quarter. Phillips Wealth Planners LLC lifted its position in U.S. Bancorp by 2.1% during the third quarter. Phillips Wealth Planners LLC now owns 12,056 shares of the financial services provider’s stock valued at $593,000 after acquiring an additional 243 shares during the last quarter. Finally, Waldron Private Wealth LLC boosted its stake in U.S. Bancorp by 1.9% in the second quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock valued at $534,000 after acquiring an additional 247 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the sale, the insider now 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 is available through this link. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Price Performance

NYSE:USB opened at $53.66 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a 52 week low of $36.49 and a 52 week high of $53.93. The stock’s 50-day moving average price is $47.99 and its 200-day moving average price is $44.23. The stock has a market capitalization of $83.71 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 3.16 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 EPS for the quarter, beating the consensus estimate of $0.99 by $0.04. The company 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%. U.S. Bancorp’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the company earned $1.05 earnings per share. As a group, equities analysts expect that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp announced that its board has initiated a stock buyback program on Thursday, September 12th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is 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 $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s payout ratio is presently 61.16%.

Analysts Set New Price Targets

USB has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their price target on U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a research note on Thursday, October 17th. Stephens raised their price target on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $54.00 to $57.00 in a report on Monday, September 30th. Finally, Barclays lifted their target price on shares of U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Twelve investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, U.S. Bancorp currently has an average rating of “Hold” and an average target price of $52.02.

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.