30,521 Shares in U.S. Bancorp (NYSE:USB) Purchased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC bought a new position in U.S. Bancorp (NYSE:USB) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 30,521 shares of the financial services provider’s stock, valued at approximately $1,212,000.

Other large investors also recently modified their holdings of the company. Redwood Wealth Management Group LLC bought a new stake in shares of U.S. Bancorp in the second quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. bought a new stake in U.S. Bancorp during the 1st quarter valued at approximately $30,000. LRI Investments LLC bought a new stake in U.S. Bancorp during the 1st quarter valued at approximately $31,000. Eagle Bay Advisors LLC boosted its position in 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 valued at $31,000 after acquiring an additional 331 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new stake in U.S. Bancorp during the 2nd quarter valued at approximately $30,000. 77.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on USB. Wells Fargo & Company lifted their price objective on U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $48.00 price objective on shares of U.S. Bancorp in a research report on Friday, September 13th. UBS Group lifted their price objective on U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. cut U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective on the stock. in a research report on Thursday, June 27th. Finally, DA Davidson boosted their price target on U.S. Bancorp from $44.00 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 issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $48.18.

U.S. Bancorp Price Performance

Shares of USB opened at $46.01 on Monday. The firm has a market cap of $71.80 billion, a PE ratio of 15.24, a P/E/G ratio of 4.36 and a beta of 1.04. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. The firm has a fifty day simple moving average of $44.39 and a two-hundred day simple moving average of $42.31. U.S. Bancorp has a 1-year low of $30.47 and a 1-year 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 for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. The business had revenue of $6.87 billion during 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%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.12 EPS. On average, equities analysts anticipate that U.S. Bancorp will post 3.87 EPS for the current year.

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 dividend of $0.50 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. 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%. U.S. Bancorp’s payout ratio is presently 66.23%.

U.S. Bancorp declared that its Board of Directors has authorized a stock repurchase program on Thursday, September 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other U.S. Bancorp news, Director Aleem Gillani acquired 10,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was purchased at an average price of $44.99 per share, with a total value of $449,900.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $449,900. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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.