ProShare Advisors LLC Grows Stock Holdings in U.S. Bancorp (NYSE:USB)

ProShare Advisors LLC raised its stake in U.S. Bancorp (NYSE:USB) by 5.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 316,903 shares of the financial services provider’s stock after buying an additional 15,263 shares during the period. ProShare Advisors LLC’s holdings in U.S. Bancorp were worth $12,581,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Gilbert & Cook Inc. raised its holdings in U.S. Bancorp by 4.0% during the fourth quarter. Gilbert & Cook Inc. now owns 15,483 shares of the financial services provider’s stock worth $670,000 after purchasing an additional 593 shares during the last quarter. Aveo Capital Partners LLC boosted its position in shares of U.S. Bancorp by 5.6% in the 4th quarter. Aveo Capital Partners LLC now owns 11,167 shares of the financial services provider’s stock worth $483,000 after buying an additional 592 shares in the last quarter. TrinityPoint Wealth LLC acquired a new stake in U.S. Bancorp in the 4th quarter valued at about $308,000. Team Hewins LLC purchased a new position in U.S. Bancorp during the 4th quarter valued at about $210,000. Finally, Congress Wealth Management LLC DE purchased a new position in U.S. Bancorp during the 4th quarter valued at about $491,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other U.S. Bancorp news, Director Aleem Gillani purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were acquired at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the purchase, the director now owns 10,000 shares in the company, valued at approximately $449,900. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

USB stock opened at $45.86 on Tuesday. The firm has a market cap of $71.56 billion, a P/E ratio of 15.19, a price-to-earnings-growth ratio of 4.36 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a 1 year low of $30.47 and a 1 year high of $47.31. The stock has a 50-day simple moving average of $44.46 and a 200-day simple moving average of $42.33.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. The company 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%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.12 earnings per share. On average, equities analysts predict that U.S. Bancorp will post 3.87 earnings per share for the current fiscal year.

U.S. Bancorp declared that its board has approved a stock buyback plan 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 plans are generally an indication that the company’s management believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.50 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date is Monday, September 30th. U.S. Bancorp’s dividend payout ratio is presently 66.23%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Citigroup lifted their price objective 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. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. UBS Group increased their price objective 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. The Goldman Sachs Group cut their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Finally, DA Davidson lifted their price target on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $48.18.

U.S. Bancorp Company 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.