U.S. Bancorp (NYSE:USB) Shares Bought by Moss Adams Wealth Advisors LLC

Moss Adams Wealth Advisors LLC lifted its stake in shares of U.S. Bancorp (NYSE:USB) by 8.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,520 shares of the financial services provider’s stock after acquiring an additional 649 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in U.S. Bancorp were worth $394,000 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. Redwood Wealth Management Group LLC purchased a new stake in shares of U.S. Bancorp during the second quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of U.S. Bancorp during the 1st quarter worth $30,000. LRI Investments LLC acquired a new stake in shares of U.S. Bancorp during the first quarter worth $31,000. Eagle Bay Advisors LLC grew its position in shares of U.S. Bancorp by 93.2% in the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 331 shares during the period. Finally, 1620 Investment Advisors Inc. acquired a new position in U.S. Bancorp in the second quarter valued at $30,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

USB has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price objective on shares of U.S. Bancorp from $52.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday. Evercore ISI upped their price target on shares of U.S. Bancorp from $49.00 to $51.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a report on Thursday. UBS Group upped their price objective on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Finally, Citigroup lifted their target price on U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Hold” and an average target price of $50.71.

U.S. Bancorp Price Performance

USB opened at $49.16 on Friday. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $50.47. The firm has a market cap of $76.71 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 3.32 and a beta of 1.03. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. The company has a fifty day simple moving average of $45.24 and a 200 day simple moving average of $42.66.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The company had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same period last year, the firm earned $1.05 earnings per share. The company’s revenue was down 2.4% on a year-over-year basis. Equities research analysts expect that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.07%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s dividend payout ratio is presently 66.23%.

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

About U.S. Bancorp

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.