Atria Investments Inc Buys 35,946 Shares of U.S. Bancorp (NYSE:USB)

Atria Investments Inc grew its stake in U.S. Bancorp (NYSE:USB - Free Report) by 14.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 284,832 shares of the financial services provider's stock after buying an additional 35,946 shares during the quarter. Atria Investments Inc's holdings in U.S. Bancorp were worth $13,025,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of USB. Vanguard Group Inc. grew its position in shares of U.S. Bancorp by 0.4% in the first quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider's stock valued at $6,051,096,000 after purchasing an additional 502,776 shares in the last quarter. Davis Selected Advisers grew its holdings in shares of U.S. Bancorp by 0.3% during the second quarter. Davis Selected Advisers now owns 14,228,444 shares of the financial services provider's stock worth $564,869,000 after purchasing an additional 43,437 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of U.S. Bancorp by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 13,312,930 shares of the financial services provider's stock worth $528,523,000 after purchasing an additional 94,841 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of U.S. Bancorp by 2.7% during the second quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider's stock worth $491,364,000 after purchasing an additional 325,374 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of U.S. Bancorp by 3.9% during the third quarter. Van ECK Associates Corp now owns 9,852,013 shares of the financial services provider's stock worth $478,118,000 after purchasing an additional 373,559 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the business's stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the transaction, the insider now directly owns 129,790 shares of the company's stock, valued at approximately $6,363,603.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.23% of the company's stock.

U.S. Bancorp Stock Performance

NYSE USB traded up $0.83 during midday trading on Monday, hitting $51.04. The company had a trading volume of 7,377,638 shares, compared to its average volume of 8,345,873. The firm has a fifty day simple moving average of $46.52 and a two-hundred day simple moving average of $43.39. The stock has a market cap of $79.62 billion, a price-to-earnings ratio of 15.64, a P/E/G ratio of 2.96 and a beta of 1.02. U.S. Bancorp has a fifty-two week low of $33.61 and a fifty-two week high of $51.76. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The firm's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the firm earned $1.05 EPS. Equities analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp announced that its Board of Directors has approved a stock repurchase program on Thursday, September 12th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.50 per share. This is an increase from U.S. Bancorp's previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp's dividend payout ratio (DPR) is currently 61.16%.

Analysts Set New Price Targets

A number of research firms recently issued reports on USB. Deutsche Bank Aktiengesellschaft lowered U.S. Bancorp from a "buy" rating to a "hold" rating and set a $51.00 price target on the stock. in a report on Thursday, October 24th. Wells Fargo & Company lifted their price target on shares of U.S. Bancorp from $52.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, October 17th. The Goldman Sachs Group reduced their price target 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. Robert W. Baird set a $54.00 price objective on shares of U.S. Bancorp in a report on Thursday, October 17th. Finally, Stephens upped their target price on shares of 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. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $51.12.

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.