Focus Financial Network Inc. Boosts Stock Holdings in U.S. Bancorp (NYSE:USB)

Focus Financial Network Inc. increased its position in U.S. Bancorp (NYSE:USB) by 2.3% in the third quarter, Holdings Channel.com reports. The fund owned 64,317 shares of the financial services provider’s stock after purchasing an additional 1,473 shares during the period. Focus Financial Network Inc.’s holdings in U.S. Bancorp were worth $2,973,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in USB. McAdam LLC grew its stake 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 acquiring an additional 209 shares during the period. Valmark Advisers Inc. raised its stake in 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 valued at $346,000 after buying an additional 242 shares during the last quarter. Waldron Private Wealth LLC lifted its holdings in shares of U.S. Bancorp by 1.9% during the 2nd quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock valued at $534,000 after buying an additional 247 shares during the period. Naples Global Advisors LLC boosted its stake in shares of U.S. Bancorp by 0.4% in the 2nd quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock worth $2,624,000 after buying an additional 248 shares during the last quarter. Finally, Kavar Capital Partners Group LLC grew its holdings in shares of U.S. Bancorp by 4.7% in the second quarter. Kavar Capital Partners Group LLC now owns 5,555 shares of the financial services provider’s stock worth $221,000 after acquiring an additional 250 shares during the period. 77.60% of the stock is owned by institutional investors.

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction 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 sale, the insider now owns 129,790 shares in the company, valued at approximately $6,363,603.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $47.84 on Friday. The firm has a market cap of $74.65 billion, a price-to-earnings ratio of 14.63, a P/E/G ratio of 2.88 and a beta of 1.03. The firm has a fifty day moving average price of $46.23 and a 200 day moving average price of $43.05. U.S. Bancorp has a fifty-two week low of $32.39 and a fifty-two week high of $50.47. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last released 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. 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 during the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the prior year, the firm earned $1.05 EPS. The business’s revenue was down 2.4% on a year-over-year basis. As a group, sell-side analysts expect that U.S. Bancorp will post 3.92 earnings per share for the current fiscal year.

U.S. Bancorp announced that its Board of Directors has authorized a stock buyback program on Thursday, September 12th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.50 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.18%. U.S. Bancorp’s payout ratio is presently 61.16%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective on the stock. in a report on Thursday, October 24th. Barclays upped their target price on shares of U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Wells Fargo & Company lifted their price target on shares of U.S. Bancorp from $52.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada set a $53.00 price objective on U.S. Bancorp in a research note on Thursday, October 17th. Thirteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $50.87.

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.