U.S. Bancorp (NYSE:USB) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its stake in shares of U.S. Bancorp (NYSE:USB) by 3.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,328,880 shares of the financial services provider’s stock after purchasing an additional 1,796,336 shares during the period. Charles Schwab Investment Management Inc.’s holdings in U.S. Bancorp were worth $2,164,350,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC raised its holdings in U.S. Bancorp by 723.7% in the 3rd 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 last quarter. Marshall Wace LLP boosted its stake in U.S. Bancorp by 1,438.4% in the 2nd 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 during the last quarter. National Bank of Canada FI grew its holdings in U.S. Bancorp by 313.8% in the 2nd quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock valued at $105,903,000 after buying an additional 2,046,522 shares during the period. Bridges Investment Management Inc. lifted its holdings in shares of U.S. Bancorp by 1,554.3% during the 3rd 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 period. Finally, Cambiar Investors LLC purchased a new stake in U.S. Bancorp in the third quarter valued at approximately $43,619,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 0.8 %

NYSE:USB opened at $51.17 on Thursday. The firm has a market capitalization of $79.83 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 2.97 and a beta of 1.02. U.S. Bancorp has a 52 week low of $36.49 and a 52 week high of $51.76. 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 has a 50 day moving average of $47.33 and a 200-day moving average of $43.91.

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

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.50 dividend. The ex-dividend date was Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 3.91%. U.S. Bancorp’s payout ratio is 61.16%.

U.S. Bancorp declared that its board has authorized a stock buyback plan on Thursday, September 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a research note on Thursday, October 24th. DA Davidson raised their price objective on U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Stephens lifted their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Barclays lifted their price target on shares of U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a research report on Thursday, October 17th. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $51.22.

Insiders Place Their Bets

In related 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 transaction, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. The trade was a 16.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.23% of the stock is currently owned by company insiders.

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.