Nwam LLC Takes Position in U.S. Bancorp (NYSE:USB)

Nwam LLC bought a new stake in U.S. Bancorp (NYSE:USB - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 119,648 shares of the financial services provider's stock, valued at approximately $5,471,000.

Other hedge funds have also made changes to their positions in the company. Redwood Wealth Management Group LLC acquired a new position in U.S. Bancorp in the second quarter valued at about $25,000. Frazier Financial Advisors LLC raised its stake in shares of U.S. Bancorp by 222.7% in the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 441 shares during the period. 1620 Investment Advisors Inc. acquired a new position in shares of U.S. Bancorp in the 2nd quarter worth approximately $30,000. LRI Investments LLC purchased a new stake in U.S. Bancorp in the first quarter valued at approximately $31,000. Finally, Y.D. More Investments Ltd acquired a new position in U.S. Bancorp during the second quarter worth $33,000. Hedge funds and other institutional investors own 77.60% of the company's stock.

Insider Buying and Selling at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the company's stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.23% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on USB shares. Evercore ISI lifted their price objective on U.S. Bancorp from $51.00 to $54.00 and gave the company an "in-line" rating in a research note on Wednesday, October 30th. 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 on the stock in a research report on Wednesday, September 11th. Barclays lifted their price objective on shares of U.S. Bancorp from $52.00 to $57.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. Oppenheimer increased their target price on shares of U.S. Bancorp from $59.00 to $64.00 and gave the stock an "outperform" rating in a report on Tuesday, November 5th. Finally, Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a research note on Thursday, October 17th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat.com, U.S. Bancorp presently has an average rating of "Hold" and a consensus target price of $51.22.

U.S. Bancorp Stock Performance

Shares of NYSE:USB traded up $1.10 during midday trading on Friday, hitting $52.49. The stock had a trading volume of 8,301,608 shares, compared to its average volume of 8,210,361. U.S. Bancorp has a 1 year low of $36.49 and a 1 year high of $52.69. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The stock has a 50 day moving average price of $47.63 and a two-hundred day moving average price of $44.03. The company has a market capitalization of $81.89 billion, a PE ratio of 16.05, a P/E/G ratio of 3.03 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 earnings per share for the quarter, beating analysts' consensus estimates of $0.99 by $0.04. The company had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.05 EPS. As a group, equities analysts predict that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

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

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.50 dividend. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. This represents a $2.00 annualized dividend and a yield of 3.81%. U.S. Bancorp's dividend payout ratio is presently 61.16%.

About U.S. Bancorp

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.