MML Investors Services LLC Has $37.08 Million Stock Holdings in U.S. Bancorp (NYSE:USB)

MML Investors Services LLC increased its stake in U.S. Bancorp (NYSE:USB - Free Report) by 3.8% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 810,781 shares of the financial services provider's stock after acquiring an additional 29,671 shares during the quarter. MML Investors Services LLC owned approximately 0.05% of U.S. Bancorp worth $37,077,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of USB. Redwood Wealth Management Group LLC purchased a new position in shares of U.S. Bancorp during the second quarter valued at $25,000. Frazier Financial Advisors LLC lifted its position in shares of U.S. Bancorp by 222.7% in the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider's stock worth $29,000 after buying an additional 441 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of U.S. Bancorp during the 2nd quarter worth about $30,000. Y.D. More Investments Ltd acquired a new position in shares of U.S. Bancorp during the 2nd quarter worth about $33,000. Finally, Kimelman & Baird LLC acquired a new position in shares of U.S. Bancorp during the 2nd quarter worth about $40,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction that occurred on 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 in the company, valued at $6,363,603.70. This represents a 16.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.23% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on USB shares. Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a report on Thursday, October 17th. Stephens increased their price target on U.S. Bancorp from $49.00 to $52.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 17th. Evercore ISI increased their price target on U.S. Bancorp from $51.00 to $54.00 and gave the stock an "in-line" rating in a research report on Wednesday, October 30th. DA Davidson upped their price objective on U.S. Bancorp from $49.00 to $54.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group cut their price target on U.S. Bancorp from $48.00 to $46.00 and set a "neutral" rating on the stock in a research note on Wednesday, September 11th. Twelve equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, U.S. Bancorp has a consensus rating of "Hold" and a consensus price target of $52.72.

U.S. Bancorp Stock Performance

U.S. Bancorp stock traded down $0.84 during trading hours on Monday, hitting $51.34. The company had a trading volume of 5,414,935 shares, compared to its average volume of 8,241,227. The firm has a market cap of $80.08 billion, a PE ratio of 15.70, a PEG ratio of 3.08 and a beta of 1.03. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The firm has a 50-day moving average of $49.24 and a 200 day moving average of $44.95.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly 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. The firm had revenue of $6.86 billion for the quarter, compared to analysts' expectations of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business's revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.05 EPS. On average, sell-side analysts expect that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp declared that its Board of Directors has initiated a share buyback program 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 stock through open market purchases. Stock buyback programs are often an indication that the company's leadership 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. Shareholders of record on Monday, September 30th were issued a $0.50 dividend. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp's dividend payout ratio is currently 61.16%.

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.