Keudell Morrison Wealth Management Purchases 1,153 Shares of U.S. Bancorp (NYSE:USB)

Keudell Morrison Wealth Management increased its holdings in U.S. Bancorp (NYSE:USB) by 1.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 69,949 shares of the financial services provider’s stock after buying an additional 1,153 shares during the period. U.S. Bancorp comprises about 0.9% of Keudell Morrison Wealth Management’s holdings, making the stock its 25th biggest position. Keudell Morrison Wealth Management’s holdings in U.S. Bancorp were worth $3,199,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Manning & Napier Advisors LLC purchased a new position in U.S. Bancorp in the second quarter valued at about $20,188,000. Janus Henderson Group PLC raised its holdings in shares of U.S. Bancorp by 6.4% in the 1st quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock worth $12,363,000 after purchasing an additional 16,686 shares during the period. Koshinski Asset Management Inc. purchased a new position in U.S. Bancorp in the first quarter valued at approximately $732,000. Comerica Bank grew its holdings in U.S. Bancorp by 11.2% during the first quarter. Comerica Bank now owns 564,443 shares of the financial services provider’s stock valued at $25,231,000 after purchasing an additional 56,738 shares during the period. Finally, M&G Plc increased its position in U.S. Bancorp by 73.9% in the second quarter. M&G Plc now owns 314,241 shares of the financial services provider’s stock worth $12,570,000 after buying an additional 133,498 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

U.S. Bancorp stock traded down $0.73 during mid-day trading on Thursday, hitting $50.53. 956,066 shares of the company traded hands, compared to its average volume of 8,307,219. The stock has a fifty day moving average price of $46.40 and a 200-day moving average price of $43.25. The stock has a market cap of $78.85 billion, a price-to-earnings ratio of 15.68, a price-to-earnings-growth ratio of 2.79 and a beta of 1.02. U.S. Bancorp has a one year low of $33.61 and a one year high of $51.76. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The company had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same period in the previous year, the business earned $1.05 earnings per share. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, equities analysts predict that U.S. Bancorp will post 3.92 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.96%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 61.16%.

U.S. Bancorp declared that its Board of Directors has approved a share repurchase program on Thursday, September 12th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a research note on Thursday, October 17th. DA Davidson increased their target price on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Barclays boosted their price target on shares of U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $54.00 to $57.00 in a report on Monday, September 30th. Finally, Wells Fargo & Company boosted their target price on shares of U.S. Bancorp from $52.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Thirteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $51.12.

Insider Buying and Selling

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is currently 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.