OneAscent Wealth Management LLC Invests $2.79 Million in U.S. Bancorp (NYSE:USB)

OneAscent Wealth Management LLC acquired a new stake in shares of U.S. Bancorp (NYSE:USB - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 60,362 shares of the financial services provider's stock, valued at approximately $2,791,000. U.S. Bancorp comprises 1.1% of OneAscent Wealth Management LLC's holdings, making the stock its 7th biggest holding.

Other institutional investors have also recently modified their holdings of the company. Los Angeles Capital Management LLC increased its position in U.S. Bancorp by 723.7% during the third quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider's stock valued at $146,864,000 after acquiring an additional 2,821,642 shares during the last quarter. Marshall Wace LLP boosted its holdings in U.S. Bancorp by 1,438.4% in the 2nd quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider's stock worth $89,853,000 after buying an additional 2,116,175 shares during the period. National Bank of Canada FI raised its stake in U.S. Bancorp by 313.8% during the 2nd quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider's stock valued at $105,903,000 after purchasing an additional 2,046,522 shares during the period. Bridges Investment Management Inc. lifted its holdings in shares of U.S. Bancorp by 1,554.3% in the third quarter. Bridges Investment Management Inc. now owns 1,503,638 shares of the financial services provider's stock worth $68,761,000 after buying an additional 1,412,743 shares in the last quarter. Finally, Cambiar Investors LLC bought a new position in shares of U.S. Bancorp during the third quarter worth $43,619,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction 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 directly owns 129,790 shares of the company's stock, valued at $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Stock Performance

USB stock traded up $0.71 during trading on Monday, hitting $50.61. 6,641,359 shares of the company's stock traded hands, compared to its average volume of 8,365,327. The stock has a market capitalization of $78.95 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 2.94 and a beta of 1.02. U.S. Bancorp has a 52 week low of $36.49 and a 52 week high of $51.76. The stock has a fifty day moving average price of $46.99 and a two-hundred day moving average price of $43.73. 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 earnings per share for the quarter, topping 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 business had revenue of $6.86 billion for the quarter, compared to analysts' expectations of $6.90 billion. During the same quarter last year, the company earned $1.05 EPS. The company's revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, equities analysts anticipate that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp announced that its board has initiated a stock repurchase program on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is 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 given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.95%. The ex-dividend date was Monday, September 30th. This is an increase from U.S. Bancorp's previous quarterly dividend of $0.49. U.S. Bancorp's dividend payout ratio is 61.16%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on USB shares. The Goldman Sachs Group dropped their target price on U.S. Bancorp from $48.00 to $46.00 and set a "neutral" rating for the company in a report on Wednesday, September 11th. 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 research note on Thursday, October 24th. Barclays lifted their price target on U.S. Bancorp from $52.00 to $57.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. Oppenheimer upped their price target on U.S. Bancorp from $59.00 to $64.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th. Finally, Robert W. Baird set a $54.00 price target on U.S. Bancorp in a research report on Thursday, October 17th. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, U.S. Bancorp has a consensus rating of "Hold" and an average target price of $51.22.

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.