Pittenger & Anderson Inc. Has $129,000 Stock Holdings in U.S. Bancorp (NYSE:USB)

Pittenger & Anderson Inc. grew its position in shares of U.S. Bancorp (NYSE:USB) by 9.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,825 shares of the financial services provider’s stock after purchasing an additional 250 shares during the quarter. Pittenger & Anderson Inc.’s holdings in U.S. Bancorp were worth $129,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in USB. Moloney Securities Asset Management LLC increased its holdings in shares of U.S. Bancorp by 18.3% during the third quarter. Moloney Securities Asset Management LLC now owns 46,176 shares of the financial services provider’s stock valued at $2,112,000 after acquiring an additional 7,146 shares in the last quarter. Catalyst Capital Advisors LLC purchased a new position in U.S. Bancorp in the third quarter worth $164,000. QRG Capital Management Inc. lifted its position in shares of U.S. Bancorp by 10.2% during the 3rd quarter. QRG Capital Management Inc. now owns 80,197 shares of the financial services provider’s stock valued at $3,667,000 after buying an additional 7,394 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in shares of U.S. Bancorp by 2.4% during the 3rd quarter. Asset Management One Co. Ltd. now owns 603,060 shares of the financial services provider’s stock valued at $27,578,000 after buying an additional 14,173 shares during the last quarter. Finally, National Pension Service lifted its holdings in U.S. Bancorp by 12.1% during the 3rd quarter. National Pension Service now owns 3,652,022 shares of the financial services provider’s stock worth $167,007,000 after purchasing an additional 394,178 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Trading Up 0.9 %

Shares of NYSE USB opened at $47.62 on Wednesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. The business’s 50 day moving average price is $46.30 and its 200-day moving average price is $43.19. U.S. Bancorp has a fifty-two week low of $33.61 and a fifty-two week high of $50.47. The company has a market cap of $74.31 billion, a price-to-earnings ratio of 14.56, a PEG ratio of 2.83 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.99 by $0.04. The company had revenue of $6.86 billion for 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%. U.S. Bancorp’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the business posted $1.05 EPS. On average, sell-side analysts expect that U.S. Bancorp will post 3.92 earnings per share for the current year.

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 issued a dividend of $0.50 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

U.S. Bancorp announced that its Board of Directors has initiated a stock repurchase plan 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 reacquire up to 7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have weighed in on USB. Oppenheimer upped their target price on U.S. Bancorp from $59.00 to $64.00 and gave the stock an “outperform” rating in a research note on Tuesday. Evercore ISI raised their price target on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Wells Fargo & Company increased their price objective on U.S. Bancorp from $52.00 to $60.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft cut U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a research note on Thursday, October 24th. Finally, Barclays boosted their target price on U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Hold” and an average price target of $51.12.

Insider Buying and Selling 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 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 owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.23% of the company’s stock.

About U.S. Bancorp

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.