150,600 U.S. Bancorp $USB Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its stake in U.S. Bancorp (NYSE:USB) by 12.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,338,154 shares of the financial services provider’s stock after buying an additional 150,600 shares during the quarter. Russell Investments Group Ltd. owned about 0.09% of U.S. Bancorp worth $77,365,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. R Squared Ltd purchased a new stake in U.S. Bancorp during the 3rd quarter worth $428,000. Maryland State Retirement & Pension System boosted its position in U.S. Bancorp by 13.1% in the 3rd quarter. Maryland State Retirement & Pension System now owns 94,631 shares of the financial services provider’s stock valued at $5,466,000 after buying an additional 10,942 shares during the last quarter. International Private Wealth Advisors LLC increased its position in shares of U.S. Bancorp by 18.8% during the third quarter. International Private Wealth Advisors LLC now owns 7,170 shares of the financial services provider’s stock worth $414,000 after acquiring an additional 1,137 shares during the last quarter. DSG Capital Advisors LLC lifted its stake in shares of U.S. Bancorp by 7.5% in the third quarter. DSG Capital Advisors LLC now owns 28,539 shares of the financial services provider’s stock worth $1,648,000 after acquiring an additional 1,994 shares in the last quarter. Finally, Silver Grove Financial Group Inc. lifted its stake in shares of U.S. Bancorp by 13.9% in the third quarter. Silver Grove Financial Group Inc. now owns 1,771 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 216 shares in the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Up 0.9%

Shares of USB traded up $0.53 during midday trading on Friday, hitting $60.99. The company had a trading volume of 4,033,892 shares, compared to its average volume of 7,119,969. The stock has a market cap of $95.04 billion, a price-to-earnings ratio of 11.89, a PEG ratio of 1.15 and a beta of 1.02. The company’s 50 day moving average price is $59.50 and its 200 day moving average price is $58.30. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.87. U.S. Bancorp has a 52 week low of $45.02 and a 52 week high of $66.07.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.32 by $0.02. The business had revenue of $8.04 billion for the quarter, compared to analysts’ expectations of $8 billion. U.S. Bancorp had a net margin of 18.85% and a return on equity of 13.85%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.22 earnings per share. On average, equities research analysts predict that U.S. Bancorp will post 5.30 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a dividend of $0.54 per share. The ex-dividend date was Wednesday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.52. This represents a $2.16 annualized dividend and a yield of 3.5%. U.S. Bancorp’s payout ratio is currently 42.11%.

Analysts Set New Price Targets

A number of research analysts recently commented on USB shares. The Goldman Sachs Group reissued a “neutral” rating and issued a $64.00 price target (down from $71.00) on shares of U.S. Bancorp in a report on Thursday, October 15th. Weiss Ratings restated a “buy (b)” rating on shares of U.S. Bancorp in a report on Thursday, October 29th. UBS Group upped their target price on U.S. Bancorp from $64.00 to $66.00 and gave the company a “neutral” rating in a research report on Monday, November 2nd. Evercore reiterated an “outperform” rating and set a $67.00 target price (down from $72.00) on shares of U.S. Bancorp in a research note on Wednesday, October 28th. Finally, CLSA set a $67.50 target price on U.S. Bancorp in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, U.S. Bancorp currently has an average rating of “Moderate Buy” and a consensus price target of $68.65.

Insider Buying and Selling

In other U.S. Bancorp news, CEO Gunjan Kedia sold 27,267 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the transaction, the chief executive officer owned 426,262 shares of the company’s stock, valued at $26,585,960.94. This trade represents a 6.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.21% of the stock is currently owned by corporate insiders.

U.S. Bancorp Profile

U.S. Bancorp is the parent company of U.S. Bank, a financial services provider serving consumers, businesses, institutions and government entities across the United States. Its history traces to 1863, when one of its predecessor institutions, First National Bank of Cincinnati, was established. U.S. Bank offers consumer and business banking, lending, payment services, wealth management, investment services and corporate trust services. Its products include checking and savings accounts, credit cards, mortgages, commercial loans and digital banking solutions.