Journey Advisory Group LLC Has $1.60 Million Position in U.S. Bancorp (NYSE:USB)

Journey Advisory Group LLC boosted its holdings in shares of U.S. Bancorp (NYSE:USB) by 4.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 35,019 shares of the financial services provider’s stock after purchasing an additional 1,600 shares during the period. Journey Advisory Group LLC’s holdings in U.S. Bancorp were worth $1,601,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in USB. Redwood Wealth Management Group LLC bought a new position in shares of U.S. Bancorp during the 2nd quarter valued at $25,000. Frazier Financial Advisors LLC raised its holdings in U.S. Bancorp by 222.7% during the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after buying an additional 441 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of U.S. Bancorp in the second quarter worth about $30,000. LRI Investments LLC bought a new stake in shares of U.S. Bancorp during the 1st quarter worth about $31,000. Finally, Y.D. More Investments Ltd bought a new stake in shares of U.S. Bancorp during the 2nd quarter worth about $33,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following 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 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on USB shares. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $54.00 to $57.00 in a research note on Monday, September 30th. Evercore ISI upped their price objective on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Wells Fargo & Company lifted their target price on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. 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 research report on Wednesday, September 11th. Finally, Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a report on Thursday, October 17th. Thirteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $51.22.

U.S. Bancorp Stock Performance

USB opened at $52.49 on Friday. The stock’s 50 day simple moving average is $47.63 and its 200-day simple moving average is $44.05. 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 market cap of $81.89 billion, a PE ratio of 16.05, a P/E/G ratio of 3.03 and a beta of 1.02. U.S. Bancorp has a 1 year low of $36.49 and a 1 year high of $52.69.

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

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

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 3.81%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s payout ratio is presently 61.16%.

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.