DMC Group LLC Buys 2,954 Shares of U.S. Bancorp (NYSE:USB)

DMC Group LLC lifted its stake in shares of U.S. Bancorp (NYSE:USB) by 17.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,315 shares of the financial services provider’s stock after purchasing an additional 2,954 shares during the period. DMC Group LLC’s holdings in U.S. Bancorp were worth $929,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of USB. Redwood Wealth Management Group LLC bought a new position in U.S. Bancorp in the 2nd quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. acquired a new position in shares of U.S. Bancorp during the first quarter valued at $30,000. 1620 Investment Advisors Inc. bought a new position in U.S. Bancorp in the second quarter valued at about $30,000. Eagle Bay Advisors LLC increased its position in U.S. Bancorp by 93.2% in the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 331 shares during the period. Finally, LRI Investments LLC bought a new stake in U.S. Bancorp during the 1st quarter worth about $31,000. 77.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Stephens raised their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday. DA Davidson raised their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Thursday. Royal Bank of Canada set a $53.00 target price on shares of U.S. Bancorp in a research report on Thursday. UBS Group increased their price target on U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Finally, Wells Fargo & Company upped their price objective on U.S. Bancorp from $52.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $50.71.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $49.16 on Friday. The company has a fifty day moving average price of $45.24 and a 200 day moving average price of $42.66. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $50.47. The firm has a market cap of $76.71 billion, a PE ratio of 16.28, a PEG ratio of 3.32 and a beta of 1.03. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The business 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 13.34% and a net margin of 12.55%. U.S. Bancorp’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the company earned $1.05 earnings per share. Research analysts predict that U.S. Bancorp will post 3.86 earnings per share 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. Investors 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 annualized dividend and a yield of 4.07%. U.S. Bancorp’s dividend payout ratio is presently 66.23%.

U.S. Bancorp declared that its board has approved a share buyback program on Thursday, September 12th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

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.