Abich Financial Wealth Management LLC Has $177,000 Stake in U.S. Bancorp (NYSE:USB)

Abich Financial Wealth Management LLC lifted its position in shares of U.S. Bancorp (NYSE:USB) by 32.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,449 shares of the financial services provider’s stock after buying an additional 1,079 shares during the quarter. Abich Financial Wealth Management LLC’s holdings in U.S. Bancorp were worth $177,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of USB. Gilbert & Cook Inc. lifted its stake in shares of U.S. Bancorp by 4.0% in the 4th quarter. Gilbert & Cook Inc. now owns 15,483 shares of the financial services provider’s stock valued at $670,000 after purchasing an additional 593 shares during the period. Aveo Capital Partners LLC boosted its holdings in shares of U.S. Bancorp by 5.6% during 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 shares of U.S. Bancorp during the 4th quarter worth approximately $308,000. Congress Wealth Management LLC DE acquired a new stake in shares of U.S. Bancorp during the 4th quarter worth approximately $491,000. Finally, Nations Financial Group Inc. IA ADV acquired a new position in shares of U.S. Bancorp during the 4th quarter valued at $218,000. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Down 0.5 %

Shares of USB stock opened at $45.63 on Wednesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. The company has a market capitalization of $71.21 billion, a price-to-earnings ratio of 15.11, a PEG ratio of 3.06 and a beta of 1.04. U.S. Bancorp has a 52-week low of $30.47 and a 52-week high of $47.31. The company has a 50-day simple moving average of $44.51 and a two-hundred day simple moving average of $42.34.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.04. The company had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. U.S. Bancorp’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.12 earnings per share. Research analysts anticipate that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 4.38%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 64.90%.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on USB shares. StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. The Goldman Sachs Group decreased their target price on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Morgan Stanley increased their price target on U.S. Bancorp from $47.00 to $54.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Royal Bank of Canada restated an “outperform” rating and set a $48.00 price objective on shares of U.S. Bancorp in a report on Friday, September 13th. Finally, Jefferies Financial Group lowered their target price on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. Thirteen 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, the stock presently has an average rating of “Hold” and an average price target of $48.18.

Insider Buying and Selling

In related news, Director Aleem Gillani acquired 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was acquired at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,900. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.23% of the stock is owned by insiders.

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.