U.S. Bancorp (NYSE:USB) Shares Bought by Auxier Asset Management

Auxier Asset Management lifted its position in shares of U.S. Bancorp (NYSE:USB) by 13.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,009 shares of the financial services provider’s stock after acquiring an additional 1,500 shares during the quarter. Auxier Asset Management’s holdings in U.S. Bancorp were worth $516,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in USB. Redwood Wealth Management Group LLC purchased a new stake in U.S. Bancorp in the 2nd quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. purchased a new position in U.S. Bancorp in the first quarter worth $30,000. 1620 Investment Advisors Inc. acquired a new stake in U.S. Bancorp in the second quarter valued at $30,000. Eagle Bay Advisors LLC boosted its position in shares of U.S. Bancorp by 93.2% during the 1st 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 in the last quarter. Finally, LRI Investments LLC purchased a new stake in shares of U.S. Bancorp during the 1st quarter worth $31,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani purchased 10,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were purchased at an average cost of $44.99 per share, with a total value of $449,900.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $449,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on USB shares. JPMorgan Chase & Co. cut shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective for the company. in a research note on Thursday, June 27th. Jefferies Financial Group reduced their price target on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. DA Davidson upped their price target on U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Citigroup boosted their target price on U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $48.18.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $46.01 on Friday. The firm’s 50-day moving average is $44.39 and its two-hundred day moving average is $42.32. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. The stock has a market capitalization of $71.80 billion, a P/E ratio of 15.24, a P/E/G ratio of 4.36 and a beta of 1.04. U.S. Bancorp has a 12-month low of $30.47 and a 12-month high of $47.31.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. The firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. U.S. Bancorp’s revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.12 earnings per share. Equities analysts predict that U.S. Bancorp will post 3.87 earnings per share for the current year.

U.S. Bancorp announced that its board has initiated a share repurchase plan 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 plans are typically an indication that the company’s board believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a $0.50 dividend. The ex-dividend date is Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.35%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s payout ratio is currently 66.23%.

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.