Los Angeles Capital Management LLC Raises Stock Position in U.S. Bancorp (NYSE:USB)

Los Angeles Capital Management LLC grew its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 723.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,211,555 shares of the financial services provider's stock after acquiring an additional 2,821,642 shares during the period. Los Angeles Capital Management LLC owned 0.21% of U.S. Bancorp worth $146,864,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D raised its position in U.S. Bancorp by 0.3% in the third quarter. State of New Jersey Common Pension Fund D now owns 554,234 shares of the financial services provider's stock worth $25,345,000 after acquiring an additional 1,594 shares during the period. Stockman Wealth Management Inc. increased its stake in shares of U.S. Bancorp by 3.8% in the third quarter. Stockman Wealth Management Inc. now owns 257,183 shares of the financial services provider's stock worth $11,761,000 after purchasing an additional 9,366 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its stake in U.S. Bancorp by 639.1% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,249 shares of the financial services provider's stock valued at $57,000 after acquiring an additional 1,080 shares in the last quarter. Mayflower Financial Advisors LLC purchased a new position in U.S. Bancorp during the third quarter valued at $223,000. Finally, Legacy Capital Wealth Partners LLC grew its stake in U.S. Bancorp by 3.0% during the third quarter. Legacy Capital Wealth Partners LLC now owns 27,577 shares of the financial services provider's stock valued at $1,261,000 after acquiring an additional 809 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Trading Up 1.3 %

USB traded up $0.65 on Friday, reaching $50.21. 8,615,275 shares of the company traded hands, compared to its average volume of 9,218,101. U.S. Bancorp has a one year low of $33.61 and a one year high of $51.76. The firm has a fifty day simple moving average of $46.52 and a two-hundred day simple moving average of $43.37. The company has a market cap of $78.33 billion, a P/E ratio of 15.35, a price-to-earnings-growth ratio of 3.02 and a beta of 1.02. 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 announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same quarter last year, the business posted $1.05 EPS. The firm's revenue for the quarter was down 2.4% on a year-over-year basis. As a group, equities research analysts expect that U.S. Bancorp will post 3.93 earnings per share for the current 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 dividend of $0.50 per share. This is an increase from U.S. Bancorp's previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 3.98%. U.S. Bancorp's dividend payout ratio (DPR) is 61.16%.

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

Analyst Ratings Changes

Several research firms recently weighed in on USB. Robert W. Baird set a $54.00 target price on shares of U.S. Bancorp in a research note on Thursday, October 17th. Oppenheimer lifted their price objective on shares of U.S. Bancorp from $59.00 to $64.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 5th. Morgan Stanley raised shares of U.S. Bancorp from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $54.00 to $57.00 in a research note on Monday, September 30th. UBS Group lifted their price objective on shares of U.S. Bancorp from $43.00 to $46.00 and gave the stock a "neutral" rating in a research note on Thursday, July 18th. Finally, Deutsche Bank Aktiengesellschaft cut shares of U.S. Bancorp from a "buy" rating to a "hold" rating and set a $51.00 price objective for the company. in a research note on Thursday, October 24th. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, U.S. Bancorp has a consensus rating of "Hold" and a consensus price target of $51.12.

Insider Buying and Selling at U.S. Bancorp

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

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.