Global Wealth Strategies & Associates Has $29,000 Stock Holdings in U.S. Bancorp (NYSE:USB)

Global Wealth Strategies & Associates raised its position in U.S. Bancorp (NYSE:USB) by 70.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 603 shares of the financial services provider’s stock after acquiring an additional 250 shares during the period. Global Wealth Strategies & Associates’ holdings in U.S. Bancorp were worth $29,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Redwood Wealth Management Group LLC bought a new stake in U.S. Bancorp in the second quarter valued at $25,000. Frazier Financial Advisors LLC lifted its stake in shares of 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 valued at $29,000 after acquiring an additional 441 shares during the period. Y.D. More Investments Ltd acquired a new position in U.S. Bancorp during the 2nd quarter valued at about $33,000. Legacy Investment Solutions LLC bought a new position in U.S. Bancorp in the third quarter valued at approximately $40,000. Finally, Northwest Bank & Trust Co boosted its position in shares of U.S. Bancorp by 87.4% in the 3rd quarter. Northwest Bank & Trust Co now owns 937 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 437 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE:USB traded down $0.02 on Thursday, hitting $47.81. The company’s stock had a trading volume of 3,190,072 shares, compared to its average volume of 8,176,125. 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 has a one year low of $37.81 and a one year high of $53.98. The stock has a fifty day moving average of $50.19 and a two-hundred day moving average of $46.08. The firm has a market capitalization of $74.59 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 3.03 and a beta of 1.03.

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, topping analysts’ consensus estimates of $0.99 by $0.04. The firm had revenue of $6.86 billion during 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 company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.05 earnings per share. Research analysts predict that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend is Tuesday, December 31st. U.S. Bancorp’s payout ratio is 61.16%.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Stephens boosted their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Barclays lifted their price objective on U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Robert W. Baird set a $54.00 target price on shares of U.S. Bancorp in a report on Thursday, October 17th. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $54.00 to $57.00 in a research report on Monday, September 30th. Finally, DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their target price for the stock from $58.00 to $60.00 in a report on Thursday. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.98.

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction dated 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is owned by corporate insiders.

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.