Prime Capital Investment Advisors LLC Purchases 3,491 Shares of U.S. Bancorp (NYSE:USB)

Prime Capital Investment Advisors LLC grew its position in U.S. Bancorp (NYSE:USB) by 35.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,270 shares of the financial services provider’s stock after purchasing an additional 3,491 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in U.S. Bancorp were worth $607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Los Angeles Capital Management LLC raised 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 acquiring an additional 2,821,642 shares during the period. Marshall Wace LLP raised its position in shares of U.S. Bancorp by 1,438.4% during the second quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock valued at $89,853,000 after buying an additional 2,116,175 shares during the last quarter. National Bank of Canada FI lifted its holdings 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 in the last quarter. Bridges Investment Management Inc. boosted its position in shares of U.S. Bancorp by 1,554.3% during 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 acquiring an additional 1,412,743 shares during the last quarter. Finally, Clearbridge Investments LLC grew its stake in U.S. Bancorp by 16.2% during the first quarter. Clearbridge Investments LLC now owns 6,941,466 shares of the financial services provider’s stock valued at $310,284,000 after acquiring an additional 967,143 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction dated 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 transaction, the insider now owns 129,790 shares in the company, valued at $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $49.90 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The stock’s fifty day moving average price is $46.88 and its 200-day moving average price is $43.63. The firm has a market cap of $77.85 billion, a P/E ratio of 15.26, a P/E/G ratio of 3.02 and a beta of 1.02. U.S. Bancorp has a 12 month low of $36.49 and a 12 month high of $51.76.

U.S. Bancorp (NYSE:USB) last posted 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 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 company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.05 EPS. On average, equities research analysts expect that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

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

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.50 dividend. The ex-dividend date was Monday, September 30th. This is an increase 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 4.01%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 61.16%.

Analyst Ratings Changes

USB has been the subject of a number of research analyst reports. Barclays raised their price objective on U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a report on Thursday, October 17th. Oppenheimer upped their price objective on U.S. Bancorp from $59.00 to $64.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. The Goldman Sachs Group cut their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Finally, Stephens boosted their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. 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, U.S. Bancorp currently has a consensus rating of “Hold” and a consensus price target of $51.22.

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.