DiNuzzo Private Wealth Inc. Acquires 6,267 Shares of U.S. Bancorp (NYSE:USB)

DiNuzzo Private Wealth Inc. grew its position in U.S. Bancorp (NYSE:USB) by 1,532.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,676 shares of the financial services provider’s stock after purchasing an additional 6,267 shares during the period. DiNuzzo Private Wealth Inc.’s holdings in U.S. Bancorp were worth $305,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Redwood Wealth Management Group LLC bought a new stake in shares of U.S. Bancorp in the second quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of U.S. Bancorp in the 1st quarter worth about $30,000. 1620 Investment Advisors Inc. purchased a new position in shares of U.S. Bancorp during the second quarter worth approximately $30,000. Eagle Bay Advisors LLC lifted its stake 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 worth $31,000 after purchasing an additional 331 shares during the last quarter. Finally, LRI Investments LLC bought a new position in U.S. Bancorp during the 1st quarter worth approximately $31,000. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $49.98 on Friday. The company’s 50 day moving average is $45.10 and its two-hundred day moving average is $42.63. The firm has a market cap of $77.99 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03. 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 52-week low of $30.47 and a 52-week high of $50.47.

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 analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The firm had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same period last year, the business posted $1.05 earnings per share. U.S. Bancorp’s revenue was down 2.4% compared to the same quarter last year. On average, research analysts expect that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp declared that its board has approved a stock repurchase plan on Thursday, September 12th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.00%. U.S. Bancorp’s payout ratio is currently 66.23%.

Analysts Set New Price Targets

USB has been the subject of several research reports. Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $54.00 to $57.00 in a report on Monday, September 30th. JPMorgan Chase & Co. downgraded shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective on the stock. in a research report on Thursday, June 27th. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. The Goldman Sachs Group reduced their price target on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Finally, UBS Group increased their target price on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $50.34.

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.