4,999 Shares in U.S. Bancorp (NYSE:USB) Bought by Pine Valley Investments Ltd Liability Co

Pine Valley Investments Ltd Liability Co purchased a new stake in U.S. Bancorp (NYSE:USB) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,999 shares of the financial services provider’s stock, valued at approximately $229,000.

Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of U.S. Bancorp by 32.7% in the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock worth $2,922,784,000 after buying an additional 15,746,852 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in U.S. Bancorp by 723.7% in the 3rd quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock worth $146,864,000 after purchasing an additional 2,821,642 shares in the last quarter. Marshall Wace LLP grew its stake in shares of U.S. Bancorp by 1,438.4% during the 2nd quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock worth $89,853,000 after purchasing an additional 2,116,175 shares during the period. National Bank of Canada FI increased its holdings in shares of U.S. Bancorp by 313.8% during the 2nd quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock valued at $105,903,000 after purchasing an additional 2,046,522 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of U.S. Bancorp by 109.7% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,531,400 shares of the financial services provider’s stock valued at $161,491,000 after purchasing an additional 1,847,000 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a research report on Thursday, October 24th. DA Davidson increased their price target on U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Royal Bank of Canada set a $53.00 price objective on U.S. Bancorp in a report on Thursday, October 17th. Evercore ISI increased their target price on U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Finally, Robert W. Baird set a $54.00 price target on U.S. Bancorp in a research note on Thursday, October 17th. Twelve research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, U.S. Bancorp has a consensus rating of “Hold” and an average target price of $53.27.

Insider Activity

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the company’s 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 owns 129,790 shares in the company, valued at $6,363,603.70. This represents a 16.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $51.06 on Friday. The stock has a market capitalization of $79.66 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 3.03 and a beta of 1.03. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The business has a 50-day moving average of $49.79 and a 200 day moving average of $45.18. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98.

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

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date is Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

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

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.