Townsquare Capital LLC Has $7.93 Million Stock Position in U.S. Bancorp (NYSE:USB)

Townsquare Capital LLC boosted its position in U.S. Bancorp (NYSE:USB) by 6.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 173,301 shares of the financial services provider’s stock after purchasing an additional 9,890 shares during the period. Townsquare Capital LLC’s holdings in U.S. Bancorp were worth $7,925,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Cadence Bank acquired a new stake in U.S. Bancorp during the third quarter worth approximately $235,000. Avestar Capital LLC lifted its position in U.S. Bancorp by 44.2% during the third quarter. Avestar Capital LLC now owns 13,282 shares of the financial services provider’s stock worth $607,000 after acquiring an additional 4,073 shares during the last quarter. Brooklyn Investment Group lifted its position in U.S. Bancorp by 4.4% during the third quarter. Brooklyn Investment Group now owns 4,792 shares of the financial services provider’s stock worth $219,000 after acquiring an additional 201 shares during the last quarter. FMR LLC lifted its position in U.S. Bancorp by 32.7% during the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock worth $2,922,784,000 after acquiring an additional 15,746,852 shares during the last quarter. Finally, Summit Financial Wealth Advisors LLC acquired a new stake in U.S. Bancorp during the third quarter worth approximately $4,505,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on USB shares. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $49.00 to $65.00 in a research report on Monday. Wells Fargo & Company raised their price objective on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Royal Bank of Canada set a $53.00 target price on shares of U.S. Bancorp in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft cut 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 report on Thursday, October 24th. Finally, DA Davidson raised their target price on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Twelve research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, U.S. Bancorp has a consensus rating of “Hold” and an average target price of $52.02.

Insiders Place Their Bets

In other U.S. Bancorp 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 transaction of $1,225,750.00. Following the sale, 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of NYSE:USB opened at $53.48 on Thursday. The company’s 50 day simple moving average is $48.16 and its 200 day simple moving average is $44.30. The stock has a market capitalization of $83.43 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 3.16 and a beta of 1.02. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a 1 year low of $36.49 and a 1 year high of $53.98.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data 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. The business had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the firm posted $1.05 earnings per share. As a group, research analysts predict that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s payout ratio is presently 61.16%.

U.S. Bancorp announced that its board has authorized a share repurchase 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 buy up to 7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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.