Raleigh Capital Management Inc. Buys 2,597 Shares of U.S. Bancorp (NYSE:USB)

Raleigh Capital Management Inc. boosted its position in shares of U.S. Bancorp (NYSE:USB) by 5.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,437 shares of the financial services provider’s stock after purchasing an additional 2,597 shares during the quarter. U.S. Bancorp accounts for about 0.8% of Raleigh Capital Management Inc.’s investment portfolio, making the stock its 24th biggest holding. Raleigh Capital Management Inc.’s holdings in U.S. Bancorp were worth $2,124,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Northwest Investment Counselors LLC boosted its holdings in shares of U.S. Bancorp by 12.7% in the third quarter. Northwest Investment Counselors LLC now owns 7,075 shares of the financial services provider’s stock valued at $324,000 after buying an additional 800 shares during the period. Trilogy Capital Inc. increased its holdings in U.S. Bancorp by 4.2% during the 3rd quarter. Trilogy Capital Inc. now owns 8,196 shares of the financial services provider’s stock worth $375,000 after purchasing an additional 332 shares in the last quarter. Baker Boyer National Bank acquired a new stake in shares of U.S. Bancorp in the 3rd quarter valued at about $209,000. Vest Financial LLC bought a new stake in shares of U.S. Bancorp in the third quarter valued at about $289,000. Finally, Schaper Benz & Wise Investment Counsel Inc. WI boosted its position in shares of U.S. Bancorp by 1.0% during the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 296,831 shares of the financial services provider’s stock worth $13,574,000 after buying an additional 2,915 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Down 2.5 %

Shares of USB stock opened at $47.93 on Tuesday. U.S. Bancorp has a 52-week low of $30.47 and a 52-week high of $50.47. The company has a 50-day simple moving average of $45.37 and a two-hundred day simple moving average of $42.69. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. The company has a market capitalization of $74.79 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 3.32 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last released its earnings results 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 company had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. U.S. Bancorp’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.05 earnings per share. Research analysts anticipate that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp announced that its board has authorized a share buyback plan on Thursday, September 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.17%. 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 66.23%.

Analyst Ratings Changes

Several equities research analysts have commented on USB shares. Oppenheimer boosted their target price on U.S. Bancorp from $57.00 to $59.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. DA Davidson increased their price target on U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Royal Bank of Canada set a $53.00 price objective on U.S. Bancorp in a research note on Thursday. UBS Group raised their target price on shares of U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Finally, Citigroup upped their price target on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, U.S. Bancorp has a consensus rating of “Hold” and a consensus price target of $50.71.

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.