Baron Wealth Management LLC Boosts Stake in U.S. Bancorp (NYSE:USB)

Baron Wealth Management LLC lifted its position in U.S. Bancorp (NYSE:USB) by 5.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,145 shares of the financial services provider’s stock after purchasing an additional 412 shares during the quarter. Baron Wealth Management LLC’s holdings in U.S. Bancorp were worth $372,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of USB. Intech Investment Management LLC raised its position in U.S. Bancorp by 44.6% during the 1st quarter. Intech Investment Management LLC now owns 9,373 shares of the financial services provider’s stock valued at $419,000 after purchasing an additional 2,889 shares during the last quarter. UniSuper Management Pty Ltd boosted its stake in U.S. Bancorp by 1,140.5% during the 1st quarter. UniSuper Management Pty Ltd now owns 20,382 shares of the financial services provider’s stock valued at $911,000 after purchasing an additional 18,739 shares during the last quarter. Bessemer Group Inc. boosted its stake in U.S. Bancorp by 170.5% during the 1st quarter. Bessemer Group Inc. now owns 153,986 shares of the financial services provider’s stock valued at $6,883,000 after purchasing an additional 97,060 shares during the last quarter. Lake Street Advisors Group LLC boosted its stake in shares of U.S. Bancorp by 44.9% in the 1st quarter. Lake Street Advisors Group LLC now owns 10,962 shares of the financial services provider’s stock worth $495,000 after buying an additional 3,396 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in shares of U.S. Bancorp by 6.3% in the 1st quarter. National Bank of Canada FI now owns 652,120 shares of the financial services provider’s stock worth $27,280,000 after buying an additional 38,547 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the sale, the insider now directly owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is owned by insiders.

U.S. Bancorp Stock Up 1.4 %

Shares of NYSE USB opened at $50.61 on Tuesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market capitalization of $78.95 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 2.94 and a beta of 1.02. The stock has a 50 day moving average price of $47.10 and a 200 day moving average price of $43.79. U.S. Bancorp has a 52-week low of $36.49 and a 52-week high of $51.76.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The business had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the prior year, the firm posted $1.05 earnings per share. The business’s quarterly revenue was down 2.4% on a year-over-year basis. Sell-side analysts expect that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp announced that its board has approved a share buyback plan on Thursday, September 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.50 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 3.95%. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 61.16%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wells Fargo & Company raised their target price on U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday. Robert W. Baird set a $54.00 target price on U.S. Bancorp in a report on Thursday, October 17th. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $54.00 to $57.00 in a report on Monday, September 30th. Evercore ISI lifted their target price on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft cut 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. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $51.22.

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.