Fisher Asset Management LLC Acquires 8,283 Shares of U.S. Bancorp (NYSE:USB)

Fisher Asset Management LLC lifted its holdings in shares of U.S. Bancorp (NYSE:USB) by 0.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,486,857 shares of the financial services provider’s stock after purchasing an additional 8,283 shares during the period. Fisher Asset Management LLC owned about 0.29% of U.S. Bancorp worth $205,184,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Natixis Advisors LLC grew its holdings in shares of U.S. Bancorp by 16.6% during the 3rd quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock valued at $18,348,000 after purchasing an additional 56,990 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in shares of U.S. Bancorp during the 2nd quarter valued at $20,188,000. Janus Henderson Group PLC grew its holdings in U.S. Bancorp by 6.4% in the 1st quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock worth $12,363,000 after acquiring an additional 16,686 shares during the last quarter. Comerica Bank grew its holdings in U.S. Bancorp by 11.2% in the 1st quarter. Comerica Bank now owns 564,443 shares of the financial services provider’s stock worth $25,231,000 after acquiring an additional 56,738 shares during the last quarter. Finally, M&G Plc grew its holdings in U.S. Bancorp by 73.9% in the 2nd quarter. M&G Plc now owns 314,241 shares of the financial services provider’s stock worth $12,570,000 after acquiring an additional 133,498 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp 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 completion of the sale, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on USB. Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a report on Thursday, October 17th. Stephens raised their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. The Goldman Sachs Group cut their price target on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Royal Bank of Canada set a $53.00 price target on shares of U.S. Bancorp in a report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a research report on Thursday, October 24th. Twelve investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Hold” and a consensus price target of $52.02.

U.S. Bancorp Stock Up 2.2 %

Shares of U.S. Bancorp stock opened at $53.63 on Tuesday. 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 stock has a market capitalization of $83.66 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 3.10 and a beta of 1.02. U.S. Bancorp has a 52-week low of $36.49 and a 52-week high of $53.93. The company has a 50-day simple moving average of $47.81 and a two-hundred day simple moving average of $44.15.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.04. The business had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.05 earnings per share. On average, analysts anticipate that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

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

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.50 dividend. The ex-dividend date was Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 3.73%. U.S. Bancorp’s payout ratio is 61.16%.

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.