FDx Advisors Inc. Grows Stock Position in U.S. Bancorp (NYSE:USB)

FDx Advisors Inc. raised its holdings in U.S. Bancorp (NYSE:USB) by 10.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,864 shares of the financial services provider’s stock after buying an additional 715 shares during the quarter. FDx Advisors Inc.’s holdings in U.S. Bancorp were worth $360,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC raised its stake in shares of U.S. Bancorp by 723.7% in the third 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 during the last quarter. Marshall Wace LLP raised its stake in shares of 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 purchasing an additional 2,116,175 shares during the last quarter. 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 purchasing an additional 2,046,522 shares during the last quarter. Bridges Investment Management Inc. raised its stake in shares of U.S. Bancorp by 1,554.3% in the third quarter. Bridges Investment Management Inc. now owns 1,503,638 shares of the financial services provider’s stock worth $68,761,000 after purchasing an additional 1,412,743 shares during the last quarter. Finally, Clearbridge Investments LLC raised its stake in shares of U.S. Bancorp by 16.2% in the first quarter. Clearbridge Investments LLC now owns 6,941,466 shares of the financial services provider’s stock worth $310,284,000 after purchasing an additional 967,143 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp 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 of the company’s stock, valued at approximately $6,363,603.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on USB shares. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $54.00 to $57.00 in a report on Monday, September 30th. UBS Group raised their target price on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Barclays raised their target price on U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lowered U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a report on Thursday, October 24th. Finally, The Goldman Sachs Group dropped their target price on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $51.12.

U.S. Bancorp Price Performance

NYSE:USB opened at $51.04 on Tuesday. U.S. Bancorp has a 52 week low of $33.61 and a 52 week high of $51.76. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $79.62 billion, a P/E ratio of 15.61, a P/E/G ratio of 2.96 and a beta of 1.02. The stock’s fifty day moving average is $46.52 and its two-hundred day moving average is $43.39.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS 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 company had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the previous year, the business earned $1.05 earnings per share. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. Equities analysts expect that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp declared that its board has approved 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 generally a sign that the company’s board of directors believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.92%. U.S. Bancorp’s payout ratio is presently 61.16%.

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.