U.S. Bancorp (NYSE:USB) Shares Bought by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. grew its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 267.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,036 shares of the financial services provider's stock after acquiring an additional 13,849 shares during the period. Jacobs Levy Equity Management Inc.'s holdings in U.S. Bancorp were worth $871,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Lantz Financial LLC grew its holdings in U.S. Bancorp by 4.7% during the 2nd quarter. Lantz Financial LLC now owns 48,116 shares of the financial services provider's stock valued at $1,910,000 after purchasing an additional 2,179 shares in the last quarter. Wedmont Private Capital grew its holdings in U.S. Bancorp by 12.4% during the 2nd quarter. Wedmont Private Capital now owns 18,109 shares of the financial services provider's stock valued at $762,000 after purchasing an additional 1,991 shares in the last quarter. M&G Plc grew its holdings in U.S. Bancorp by 73.9% during the 2nd quarter. M&G Plc now owns 314,241 shares of the financial services provider's stock valued at $12,570,000 after purchasing an additional 133,498 shares in the last quarter. Diversified Trust Co acquired a new stake in U.S. Bancorp during the 2nd quarter valued at $735,000. Finally, Great Valley Advisor Group Inc. grew its holdings in U.S. Bancorp by 8.2% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 114,525 shares of the financial services provider's stock worth $4,547,000 after acquiring an additional 8,679 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the business'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 sale, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. The trade was a 16.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Compass Point raised their price objective on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a "buy" rating in a report on Tuesday. Barclays raised their price objective on shares of U.S. Bancorp from $52.00 to $57.00 and gave the stock an "overweight" rating in a report on Thursday, October 17th. Oppenheimer raised their price objective 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. Morgan Stanley raised shares of U.S. Bancorp from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $54.00 to $57.00 in a report on Monday, September 30th. Finally, DA Davidson raised their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Twelve investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $53.27.

U.S. Bancorp Stock Performance

NYSE:USB traded up $0.26 during mid-day trading on Tuesday, hitting $51.57. The stock had a trading volume of 6,357,614 shares, compared to its average volume of 8,233,312. The stock has a market capitalization of $80.45 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 3.08 and a beta of 1.03. The company has a 50 day simple moving average of $49.24 and a 200-day simple moving average of $44.95. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04.

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 firm had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. U.S. Bancorp's quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the firm posted $1.05 EPS. On average, research analysts expect that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp announced that its board has approved a share repurchase program on Thursday, September 12th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its shares are undervalued.

U.S. Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.88%. U.S. Bancorp's dividend payout ratio (DPR) is 61.16%.

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.