NFJ Investment Group LLC Has $37.34 Million Holdings in U.S. Bancorp (NYSE:USB)

NFJ Investment Group LLC decreased its stake in shares of U.S. Bancorp (NYSE:USB) by 12.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 816,504 shares of the financial services provider’s stock after selling 117,913 shares during the quarter. U.S. Bancorp accounts for about 1.1% of NFJ Investment Group LLC’s investment portfolio, making the stock its 20th biggest position. NFJ Investment Group LLC owned about 0.05% of U.S. Bancorp worth $37,339,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in USB. Redwood Wealth Management Group LLC acquired a new position in U.S. Bancorp in the 2nd quarter valued at approximately $25,000. Frazier Financial Advisors LLC lifted its position in U.S. Bancorp by 222.7% in the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 441 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in U.S. Bancorp during the second quarter worth $30,000. Y.D. More Investments Ltd acquired a new position in shares of U.S. Bancorp in the 2nd quarter valued at $33,000. Finally, Kimelman & Baird LLC bought a new position in shares of U.S. Bancorp during the 2nd quarter worth about $40,000. Institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction that occurred on 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 transaction, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.23% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on USB. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Robert W. Baird set a $54.00 target price on U.S. Bancorp in a research report on Thursday, October 17th. Citigroup upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $49.00 to $65.00 in a research note on Monday, November 25th. DA Davidson boosted their target price on shares of 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, Royal Bank of Canada set a $53.00 target price on shares of U.S. Bancorp in a research report on Thursday, October 17th. Twelve research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, U.S. Bancorp has a consensus rating of “Hold” and a consensus target price of $52.72.

U.S. Bancorp Trading Down 0.6 %

Shares of U.S. Bancorp stock traded down $0.34 during trading on Tuesday, reaching $52.43. 553,487 shares of the company were exchanged, compared to its average volume of 8,262,740. The business has a 50-day moving average price of $48.44 and a 200-day moving average price of $44.48. The firm has a market capitalization of $81.79 billion, a price-to-earnings ratio of 16.13, a P/E/G ratio of 3.14 and a beta of 1.03. 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 twelve month low of $37.81 and a twelve month high of $53.98.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same quarter last 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 anticipate that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp declared that its Board of Directors has authorized a share buyback program on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management 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. Investors of record on Monday, September 30th were given a $0.50 dividend. The ex-dividend date was Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.81%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

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.