U.S. Bancorp $USB Position Boosted by Vest Financial LLC

Vest Financial LLC lifted its position in U.S. Bancorp (NYSE:USB) by 42.1% during the third quarter, Holdings Channel reports. The institutional investor owned 1,342,173 shares of the financial services provider’s stock after buying an additional 397,672 shares during the quarter. U.S. Bancorp makes up approximately 0.8% of Vest Financial LLC’s investment portfolio, making the stock its 27th largest position. Vest Financial LLC’s holdings in U.S. Bancorp were worth $77,524,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Mufg Bank LTD. acquired a new stake in shares of U.S. Bancorp in the second quarter valued at $2,680,199,000. Bank of America Corp DE grew its holdings in U.S. Bancorp by 6.9% during the first quarter. Bank of America Corp DE now owns 15,820,033 shares of the financial services provider’s stock worth $822,800,000 after acquiring an additional 1,022,898 shares during the period. Dimensional Fund Advisors LP raised its position in U.S. Bancorp by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock worth $539,232,000 after acquiring an additional 93,025 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in U.S. Bancorp in the second quarter worth about $536,457,000. Finally, First Trust Advisors LP lifted its holdings in U.S. Bancorp by 39.9% in the 1st quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider’s stock valued at $422,261,000 after acquiring an additional 2,314,081 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 0.0%

Shares of U.S. Bancorp stock opened at $59.08 on Thursday. The stock has a 50-day moving average price of $60.47 and a 200 day moving average price of $59.20. The company has a market cap of $92.04 billion, a P/E ratio of 11.52, a P/E/G ratio of 1.13 and a beta of 1.00. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.87. U.S. Bancorp has a 1 year low of $45.02 and a 1 year high of $66.07.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.02. The business had revenue of $8.04 billion during the quarter, compared to analyst estimates of $8 billion. U.S. Bancorp had a net margin of 18.85% and a return on equity of 13.85%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.22 earnings per share. As a group, analysts expect that U.S. Bancorp will post 5.29 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were paid a $0.54 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $2.16 annualized dividend and a yield of 3.7%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.52. U.S. Bancorp’s dividend payout ratio (DPR) is currently 42.11%.

Insiders Place Their Bets

In other news, CEO Gunjan Kedia sold 27,267 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the transaction, the chief executive officer directly owned 426,262 shares in the company, valued at $26,585,960.94. The trade was a 6.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. The Goldman Sachs Group reaffirmed a “neutral” rating on shares of U.S. Bancorp in a report on Thursday, October 15th. Citigroup decreased their target price on U.S. Bancorp from $72.00 to $70.00 and set a “buy” rating on the stock in a report on Friday, October 16th. BTIG Research set a $67.50 target price on U.S. Bancorp in a research report on Monday, July 20th. Royal Bank Of Canada reduced their target price on U.S. Bancorp from $68.00 to $65.00 and set an “outperform” rating for the company in a report on Friday, October 16th. Finally, TD Cowen began coverage on U.S. Bancorp in a research report on Thursday, October 8th. They issued a “buy” rating and a $70.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, U.S. Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $68.43.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. U.S. Bank provides banking, lending, payment, investment and wealth-management services to individuals, businesses, institutions and government entities.

The company’s consumer and business banking operations offer deposit accounts, mortgages, home-equity and consumer loans, credit cards, small-business banking and commercial lending.