Bridges Investment Management Inc. Has $68.76 Million Holdings in U.S. Bancorp (NYSE:USB)

Bridges Investment Management Inc. raised its position in U.S. Bancorp (NYSE:USB - Free Report) by 1,554.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,503,638 shares of the financial services provider's stock after acquiring an additional 1,412,743 shares during the quarter. Bridges Investment Management Inc. owned 0.10% of U.S. Bancorp worth $68,761,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in USB. Redwood Wealth Management Group LLC bought a new stake in shares of U.S. Bancorp in the second quarter worth $25,000. 1620 Investment Advisors Inc. acquired a new position in U.S. Bancorp during the 2nd quarter worth $30,000. Eagle Bay Advisors LLC increased its position in shares of U.S. Bancorp by 93.2% in the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider's stock worth $31,000 after purchasing an additional 331 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of U.S. Bancorp in the 1st quarter valued at about $31,000. Finally, Y.D. More Investments Ltd bought a new position in shares of U.S. Bancorp during the second quarter worth about $33,000. Hedge funds and other institutional investors own 77.60% of the company's stock.

Insider Buying and Selling

In other news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction dated 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 completion of the sale, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Stock Up 1.3 %

NYSE USB traded up $0.65 during trading on Friday, reaching $50.21. 8,615,275 shares of the company's stock were exchanged, compared to its average volume of 9,218,101. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a fifty-two week low of $33.61 and a fifty-two week high of $51.76. The company's fifty day simple moving average is $46.52 and its 200-day simple moving average is $43.36. The firm has a market capitalization of $78.33 billion, a PE ratio of 15.35, a P/E/G ratio of 3.02 and a beta of 1.02.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating analysts' consensus estimates of $0.99 by $0.04. The firm had revenue of $6.86 billion for 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 was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.05 earnings per share. Sell-side analysts predict that U.S. Bancorp will post 3.93 EPS for the current year.

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

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.50 dividend. The ex-dividend date was Monday, September 30th. This is an increase from U.S. Bancorp's previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.98%. U.S. Bancorp's dividend payout ratio is 61.16%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on USB shares. Wells Fargo & Company boosted their price objective on U.S. Bancorp from $52.00 to $60.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a research report on Thursday, October 17th. Barclays raised their price objective on U.S. Bancorp from $52.00 to $57.00 and gave the stock an "overweight" rating in a research note on Thursday, October 17th. The Goldman Sachs Group dropped their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a "neutral" rating on the stock in a report on Wednesday, September 11th. Finally, StockNews.com upgraded shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Wednesday, July 17th. Thirteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $51.12.

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.