U.S. Bancorp (NYSE:USB) Shares Bought by Prossimo Advisors LLC

Prossimo Advisors LLC lifted its holdings in U.S. Bancorp (NYSE:USB) by 4.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,511 shares of the financial services provider’s stock after acquiring an additional 595 shares during the period. Prossimo Advisors LLC’s holdings in U.S. Bancorp were worth $709,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. McAdam LLC boosted its holdings in shares of U.S. Bancorp by 2.5% in the third quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock worth $389,000 after buying an additional 209 shares during the period. Valmark Advisers Inc. lifted its stake in U.S. Bancorp by 2.9% in the second quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock valued at $346,000 after acquiring an additional 242 shares during the last quarter. Phillips Wealth Planners LLC lifted its stake in U.S. Bancorp by 2.1% in 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. Waldron Private Wealth LLC raised its position in shares of 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 purchasing an additional 247 shares during the period. Finally, Naples Global Advisors LLC raised its position in shares of U.S. Bancorp by 0.4% in the second quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock valued at $2,624,000 after purchasing an additional 248 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Transactions at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the firm’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 completion of the transaction, the insider now directly owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of USB opened at $47.84 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a 50 day simple moving average of $46.23 and a 200 day simple moving average of $43.06. U.S. Bancorp has a 52-week low of $32.39 and a 52-week high of $50.47. The firm has a market capitalization of $74.65 billion, a PE ratio of 14.63, a P/E/G ratio of 2.86 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. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The business had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same period in the previous year, the firm earned $1.05 EPS. U.S. Bancorp’s quarterly revenue was down 2.4% compared to the same quarter last year. Sell-side analysts predict that U.S. Bancorp will post 3.92 EPS for the current fiscal year.

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

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.50 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 4.18%. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 61.16%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on USB. Royal Bank of Canada set a $53.00 price target on shares of U.S. Bancorp in a research report on Thursday, October 17th. Barclays lifted their price target 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. Citigroup lifted 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 note on Thursday, July 18th. Stephens boosted their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a research note on Thursday, October 24th. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $50.87.

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.