Quantinno Capital Management LP Acquires 18,842 Shares of U.S. Bancorp (NYSE:USB)

Quantinno Capital Management LP increased its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 24.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 94,867 shares of the financial services provider's stock after purchasing an additional 18,842 shares during the quarter. Quantinno Capital Management LP's holdings in U.S. Bancorp were worth $4,338,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royal London Asset Management Ltd. grew its position in U.S. Bancorp by 1.7% during the 3rd quarter. Royal London Asset Management Ltd. now owns 1,242,645 shares of the financial services provider's stock worth $56,826,000 after acquiring an additional 20,374 shares during the last quarter. Prana Capital Management LP boosted its stake in U.S. Bancorp by 20.0% in the third quarter. Prana Capital Management LP now owns 2,585,692 shares of the financial services provider's stock worth $118,244,000 after purchasing an additional 431,389 shares in the last quarter. Morse Asset Management Inc bought a new stake in shares of U.S. Bancorp during the third quarter worth $229,000. IHT Wealth Management LLC increased its stake in shares of U.S. Bancorp by 6.4% in the third quarter. IHT Wealth Management LLC now owns 11,635 shares of the financial services provider's stock valued at $529,000 after buying an additional 697 shares in the last quarter. Finally, Integrated Wealth Concepts LLC raised its holdings in shares of U.S. Bancorp by 5.9% in the third quarter. Integrated Wealth Concepts LLC now owns 31,917 shares of the financial services provider's stock valued at $1,460,000 after buying an additional 1,792 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

USB traded up $0.06 during trading hours on Friday, reaching $52.18. The company's stock had a trading volume of 4,683,487 shares, compared to its average volume of 7,113,583. The company's 50-day moving average is $49.13 and its 200-day moving average is $44.84. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. The firm has a market cap of $81.40 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 3.07 and a beta of 1.03. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The company'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 earnings per share. On average, equities analysts forecast that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp announced that its Board of Directors has initiated a share repurchase program on Thursday, September 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The company also recently disclosed 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 a boost from U.S. Bancorp's previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.00 annualized dividend and a yield of 3.83%. U.S. Bancorp's dividend payout ratio (DPR) is presently 61.16%.

Insider Activity

In other news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction on 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 sale, the insider now directly owns 129,790 shares of the company's stock, valued at approximately $6,363,603.70. This represents a 16.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

USB has been the subject of several research reports. Evercore ISI raised their price objective on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an "in-line" rating in a research report on Wednesday, October 30th. Barclays upped their price objective on U.S. Bancorp from $52.00 to $57.00 and gave the stock an "overweight" rating in a report on Thursday, October 17th. Oppenheimer lifted their target price on U.S. Bancorp from $59.00 to $64.00 and gave the company an "outperform" rating in a research note on Tuesday, November 5th. Robert W. Baird set a $54.00 price objective on U.S. Bancorp in a report on Thursday, October 17th. Finally, Morgan Stanley raised shares of U.S. Bancorp from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $54.00 to $57.00 in a research note on Monday, September 30th. Twelve analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, U.S. Bancorp currently has a consensus rating of "Hold" and a consensus price target of $52.72.

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.