Sippican Capital Advisors Invests $222,000 in U.S. Bancorp (NYSE:USB)

Sippican Capital Advisors purchased a new position in shares of U.S. Bancorp (NYSE:USB) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 4,857 shares of the financial services provider’s stock, valued at approximately $222,000.

Other institutional investors also recently bought and sold shares of the company. Manning & Napier Advisors LLC purchased a new stake in U.S. Bancorp in the 2nd quarter worth $20,188,000. Mission Wealth Management LP grew its holdings in shares of U.S. Bancorp by 200.7% during the first quarter. Mission Wealth Management LP now owns 18,273 shares of the financial services provider’s stock worth $817,000 after buying an additional 12,197 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of U.S. Bancorp by 6.4% during the first quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock worth $12,363,000 after buying an additional 16,686 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of U.S. Bancorp by 90.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 862,317 shares of the financial services provider’s stock valued at $36,676,000 after purchasing an additional 409,192 shares during the period. Finally, Koshinski Asset Management Inc. purchased a new stake in shares of U.S. Bancorp in the first quarter valued at about $732,000. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Up 0.0 %

Shares of USB stock traded up $0.01 during trading hours on Thursday, reaching $48.69. 222,839 shares of the stock were exchanged, compared to its average volume of 8,303,257. The business’s fifty day moving average is $46.10 and its two-hundred day moving average is $42.97. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a 12-month low of $30.88 and a 12-month high of $50.47. The firm has a market capitalization of $75.98 billion, a P/E ratio of 14.89, a P/E/G ratio of 2.85 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results 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 company had revenue of $6.86 billion for 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 firm’s revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 earnings per share. As a group, research analysts expect that U.S. Bancorp will post 3.9 EPS for the current fiscal year.

U.S. Bancorp announced that its Board of Directors has authorized a stock buyback program on Thursday, September 12th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.50 dividend. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 4.11%. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the firm’s 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 approximately $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 SEC, which is accessible through this link. 0.23% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on USB. StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Evercore ISI upped their price objective on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a report on Wednesday. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $54.00 to $57.00 in a report on Monday, September 30th. Wells Fargo & Company upped their target price on shares of U.S. Bancorp from $52.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a research report on Thursday, October 24th. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $50.87.

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.