UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stock Position in U.S. Bancorp (NYSE:USB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in U.S. Bancorp (NYSE:USB) by 4.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,235,426 shares of the financial services provider’s stock after acquiring an additional 436,252 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.72% of U.S. Bancorp worth $513,796,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in USB. Redwood Wealth Management Group LLC purchased a new position in shares of U.S. Bancorp in the second quarter valued at approximately $25,000. Frazier Financial Advisors LLC lifted 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 in the last quarter. 1620 Investment Advisors Inc. purchased a new position in U.S. Bancorp during the second quarter worth approximately $30,000. LRI Investments LLC purchased a new position in U.S. Bancorp during the first quarter worth approximately $31,000. Finally, Y.D. More Investments Ltd purchased a new position in U.S. Bancorp during the second quarter worth approximately $33,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on USB shares. Stephens lifted their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Evercore ISI lifted their price objective on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Royal Bank of Canada set a $53.00 price objective on U.S. Bancorp in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective on the stock. in a research report on Thursday, October 24th. Finally, Oppenheimer raised their target price on U.S. Bancorp from $59.00 to $64.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Twelve equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $52.02.

U.S. Bancorp Trading Down 0.3 %

Shares of NYSE USB opened at $53.48 on Friday. U.S. Bancorp has a twelve month low of $36.49 and a twelve month 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. The stock has a fifty day simple moving average of $48.30 and a 200-day simple moving average of $44.36. The stock has a market capitalization of $83.43 billion, a PE ratio of 16.35, a PEG ratio of 3.16 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the previous year, the firm posted $1.05 earnings per share. The company’s revenue was down 2.4% on a year-over-year basis. On average, equities analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp Increases Dividend

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

U.S. Bancorp announced that its Board of Directors has initiated a share buyback program on Thursday, September 12th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 129,790 shares of the company’s stock, valued at $6,363,603.70. The trade was a 16.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.23% of the stock is currently owned by 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.