B. Riley Wealth Advisors Inc. Boosts Holdings in U.S. Bancorp (NYSE:USB)

B. Riley Wealth Advisors Inc. raised its holdings in shares of U.S. Bancorp (NYSE:USB) by 1.3% in the third quarter, Holdings Channel reports. The institutional investor owned 36,987 shares of the financial services provider’s stock after acquiring an additional 488 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in U.S. Bancorp were worth $1,687,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. FMR LLC grew its position in shares of U.S. Bancorp by 32.7% during the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after acquiring an additional 15,746,852 shares during the period. Franklin Resources Inc. lifted its position in U.S. Bancorp by 153.0% during the third quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock valued at $374,573,000 after purchasing an additional 4,807,662 shares in the last quarter. Los Angeles Capital Management LLC grew its holdings in U.S. Bancorp by 723.7% during the third quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock valued at $146,864,000 after purchasing an additional 2,821,642 shares during the period. Marshall Wace LLP increased its position in U.S. Bancorp by 1,438.4% in the second quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock worth $89,853,000 after buying an additional 2,116,175 shares in the last quarter. Finally, National Bank of Canada FI raised its stake in shares of U.S. Bancorp by 313.8% in the second quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock worth $105,903,000 after buying an additional 2,046,522 shares during the period. 77.60% of the stock is currently owned by institutional investors.

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 on Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the sale, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Up 0.6 %

Shares of USB opened at $51.35 on Tuesday. The stock has a market capitalization of $80.11 billion, a PE ratio of 15.70, a P/E/G ratio of 3.03 and a beta of 1.03. The company’s fifty day moving average is $49.93 and its 200 day moving average is $45.35. 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 has a fifty-two week low of $37.81 and a fifty-two week high of $53.98.

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, beating 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 firm had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the prior year, the company earned $1.05 EPS. The business’s revenue was down 2.4% compared to the same quarter last year. Sell-side analysts expect that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

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

U.S. Bancorp Announces Dividend

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 paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.89%. The ex-dividend date is Tuesday, December 31st. U.S. Bancorp’s payout ratio is 61.16%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on USB. Oppenheimer boosted their price objective on U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Compass Point increased their price objective on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Royal Bank of Canada set a $53.00 target price on shares of U.S. Bancorp in a research note on Thursday, October 17th. DA Davidson upped their target price on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Barclays raised their price target on U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Eleven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, U.S. Bancorp currently has an average rating of “Hold” and an average target price of $53.50.

U.S. Bancorp Company 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.