Meeder Asset Management Inc. Increases Holdings in U.S. Bancorp (NYSE:USB)

Meeder Asset Management Inc. lifted its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 5,823.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,612 shares of the financial services provider's stock after purchasing an additional 28,129 shares during the quarter. Meeder Asset Management Inc.'s holdings in U.S. Bancorp were worth $1,308,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Redwood Wealth Management Group LLC acquired a new stake in shares of U.S. Bancorp during the second quarter valued at about $25,000. Frazier Financial Advisors LLC grew its holdings in U.S. Bancorp by 222.7% during the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider's stock worth $29,000 after acquiring an additional 441 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in U.S. Bancorp in the 2nd quarter valued at approximately $30,000. LRI Investments LLC bought a new position in shares of U.S. Bancorp during the first quarter valued at $31,000. Finally, Y.D. More Investments Ltd acquired a new position in shares of U.S. Bancorp during the second quarter worth $33,000. 77.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on USB. Stephens raised their target price 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 lifted their price objective on U.S. Bancorp from $51.00 to $54.00 and gave the stock an "in-line" rating in a research note on Wednesday, October 30th. Wells Fargo & Company increased their target price on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft downgraded shares of U.S. Bancorp from a "buy" rating to a "hold" rating and set a $51.00 price target on the stock. in a research report on Thursday, October 24th. Finally, Barclays upped their price target on shares of U.S. Bancorp from $52.00 to $57.00 and gave the company an "overweight" rating in a research report on Thursday, October 17th. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, U.S. Bancorp has a consensus rating of "Hold" and an average price target of $51.22.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock traded up $0.34 during trading hours on Wednesday, hitting $50.74. 8,066,370 shares of the company's stock traded hands, compared to its average volume of 8,353,047. The stock has a market capitalization of $79.16 billion, a price-to-earnings ratio of 15.42, a PEG ratio of 2.94 and a beta of 1.02. U.S. Bancorp has a 12-month low of $36.49 and a 12-month high of $51.76. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The company has a fifty day simple moving average of $47.21 and a 200-day simple moving average of $43.86.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.04. The company had revenue of $6.86 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.05 EPS. Equities research analysts anticipate that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued 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 was Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 3.94%. U.S. Bancorp's payout ratio is presently 61.16%.

U.S. Bancorp declared that its Board of Directors has approved a stock repurchase program 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 repurchase up to 7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

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 shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the transaction, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.23% of the company's stock.

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.