U.S. Bancorp (NYSE:USB) Shares Acquired by Providence Capital Advisors LLC

Providence Capital Advisors LLC boosted its position in shares of U.S. Bancorp (NYSE:USB) by 0.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,958 shares of the financial services provider’s stock after buying an additional 612 shares during the period. Providence Capital Advisors LLC’s holdings in U.S. Bancorp were worth $3,702,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Redwood Wealth Management Group LLC acquired a new position in U.S. Bancorp during the second quarter worth approximately $25,000. Frazier Financial Advisors LLC increased its position in U.S. Bancorp by 222.7% during the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after buying an additional 441 shares during the period. LRI Investments LLC purchased a new position in shares of U.S. Bancorp in the 1st quarter valued at approximately $31,000. 1620 Investment Advisors Inc. purchased a new position in shares of U.S. Bancorp in the 2nd quarter valued at approximately $30,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of U.S. Bancorp in the 2nd quarter valued at approximately $33,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the transaction, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed 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

U.S. Bancorp stock opened at $53.48 on Thursday. The firm has a market capitalization of $83.43 billion, a P/E ratio of 16.35, a PEG ratio of 3.16 and a beta of 1.02. The stock has a fifty day moving average price of $48.16 and a 200 day moving average price of $44.30. U.S. Bancorp has a 52 week low of $36.49 and a 52 week high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04.

U.S. Bancorp (NYSE:USB) last released its earnings results 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. The firm had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.05 earnings per share. Equities research analysts anticipate that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp announced that its board has initiated a share buyback plan on Thursday, September 12th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

U.S. Bancorp Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft downgraded 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. DA Davidson lifted their price target on U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a research note on Thursday, October 17th. The Goldman Sachs Group decreased their price target on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Finally, Citigroup raised U.S. Bancorp from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $49.00 to $65.00 in a report on Monday. Twelve equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $52.02.

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.