Lantz Financial LLC Purchases 201 Shares of U.S. Bancorp (NYSE:USB)

Lantz Financial LLC grew its position in U.S. Bancorp (NYSE:USB) by 0.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 28,815 shares of the financial services provider’s stock after acquiring an additional 201 shares during the period. U.S. Bancorp accounts for approximately 1.0% of Lantz Financial LLC’s investment portfolio, making the stock its 22nd biggest position. Lantz Financial LLC’s holdings in U.S. Bancorp were worth $1,524,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in USB. Daily Journal Corp lifted its stake in shares of U.S. Bancorp by 9,900.0% in the 2nd quarter. Daily Journal Corp now owns 14,000,000 shares of the financial services provider’s stock valued at $7,336,000 after acquiring an additional 13,860,000 shares during the last quarter. Nuveen Asset Management LLC lifted its stake in shares of U.S. Bancorp by 17,492.7% in the 2nd quarter. Nuveen Asset Management LLC now owns 12,734,464 shares of the financial services provider’s stock valued at $667,286,000 after acquiring an additional 12,662,079 shares during the last quarter. APG Asset Management N.V. lifted its stake in shares of U.S. Bancorp by 115.2% in the 2nd quarter. APG Asset Management N.V. now owns 3,824,226 shares of the financial services provider’s stock valued at $175,965,000 after acquiring an additional 2,046,900 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of U.S. Bancorp by 140.8% in the 2nd quarter. Acadian Asset Management LLC now owns 2,005,750 shares of the financial services provider’s stock valued at $105,104,000 after acquiring an additional 1,172,955 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of U.S. Bancorp by 40.2% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 3,974,817 shares of the financial services provider’s stock valued at $208,279,000 after acquiring an additional 1,140,289 shares during the last quarter. Institutional investors own 75.50% of the company’s stock.

USB stock opened at $55.07 on Friday. The stock has a 50-day moving average price of $54.32 and a 200-day moving average price of $52.87. U.S. Bancorp has a 1-year low of $43.14 and a 1-year high of $57.81. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.86. The firm has a market cap of $86.21 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 2.12 and a beta of 1.10.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.04. U.S. Bancorp had a return on equity of 15.39% and a net margin of 26.54%. The firm had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.81 billion. During the same period last year, the company posted $1.06 EPS. The business’s quarterly revenue was up 3.9% on a year-over-year basis. On average, analysts forecast that U.S. Bancorp will post 4.3 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.42 dividend. The ex-dividend date was Friday, September 27th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.37. This represents a $1.68 annualized dividend and a dividend yield of 3.05%. U.S. Bancorp’s dividend payout ratio (DPR) is 40.98%.

U.S. Bancorp announced that its Board of Directors has approved a stock buyback plan on Thursday, June 27th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

A number of research analysts have recently commented on USB shares. JPMorgan Chase & Co. upgraded U.S. Bancorp from an “underweight” rating to a “neutral” rating and increased their price target for the company from $52.50 to $57.00 in a research note on Wednesday, July 31st. Wedbush raised their target price on U.S. Bancorp from $46.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Piper Jaffray Companies set a $59.00 target price on U.S. Bancorp and gave the stock a “buy” rating in a research report on Friday, September 13th. Deutsche Bank set a $59.00 price objective on U.S. Bancorp and gave the stock a “hold” rating in a research report on Friday, July 26th. Finally, Citigroup lowered U.S. Bancorp from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $54.00 to $49.00 in a research report on Tuesday, October 8th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. U.S. Bancorp has an average rating of “Hold” and an average price target of $56.47.

In other news, Director David B. Omaley sold 10,133 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $55.76, for a total value of $565,016.08. Following the completion of the sale, the director now directly owns 191,754 shares in the company, valued at approximately $10,692,203.04. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Vice Chairman Gillern Jeffry H. Von sold 9,428 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $55.25, for a total value of $520,897.00. Following the completion of the sale, the insider now owns 94,658 shares of the company’s stock, valued at $5,229,854.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,547 shares of company stock valued at $2,862,231. Corporate insiders own 0.24% of the company’s stock.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

Featured Article: Why Invest in High-Yield Dividend Stocks?

Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB).

Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

Receive News & Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.