Daymark Wealth Partners LLC Has $25.31 Million Stock Position in U.S. Bancorp (NYSE:USB)

Daymark Wealth Partners LLC raised its position in U.S. Bancorp (NYSE:USB) by 0.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 553,549 shares of the financial services provider’s stock after purchasing an additional 779 shares during the quarter. U.S. Bancorp makes up approximately 0.8% of Daymark Wealth Partners LLC’s holdings, making the stock its 26th biggest position. Daymark Wealth Partners LLC’s holdings in U.S. Bancorp were worth $25,314,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in USB. Vanguard Group Inc. raised its position in U.S. Bancorp by 0.4% during the first quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider’s stock valued at $6,051,096,000 after acquiring an additional 502,776 shares in the last quarter. Davis Selected Advisers grew its stake in U.S. Bancorp by 0.3% in the 2nd quarter. Davis Selected Advisers now owns 14,228,444 shares of the financial services provider’s stock valued at $564,869,000 after buying an additional 43,437 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of U.S. Bancorp by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 13,312,930 shares of the financial services provider’s stock worth $528,523,000 after acquiring an additional 94,841 shares during the last quarter. Legal & General Group Plc boosted its holdings in U.S. Bancorp by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock valued at $491,364,000 after purchasing an additional 325,374 shares during the period. Finally, Van ECK Associates Corp grew its position in U.S. Bancorp by 2.9% in the 2nd quarter. Van ECK Associates Corp now owns 9,478,454 shares of the financial services provider’s stock worth $376,295,000 after purchasing an additional 271,078 shares during the last quarter. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at U.S. Bancorp

In other news, Director Aleem Gillani acquired 10,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was bought 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 purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on USB shares. Royal Bank of Canada reissued an “outperform” rating and set a $48.00 target price on shares of U.S. Bancorp in a research report on Friday, September 13th. Wells Fargo & Company raised their target price on U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. Oppenheimer increased their price objective on shares of U.S. Bancorp from $54.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. The Goldman Sachs Group decreased their price target on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Finally, DA Davidson increased their target price on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $48.65.

U.S. Bancorp Stock Up 1.2 %

USB traded up $0.55 during trading on Wednesday, hitting $44.81. The company had a trading volume of 1,309,098 shares, compared to its average volume of 8,225,083. The company has a market capitalization of $69.92 billion, a PE ratio of 14.66, a PEG ratio of 3.06 and a beta of 1.03. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a one year low of $30.47 and a one year high of $47.31. The firm’s 50-day moving average price is $44.43 and its 200 day moving average price is $42.46.

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 for the quarter, topping the consensus estimate of $0.94 by $0.04. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.12 earnings per share. As a group, equities analysts expect that U.S. Bancorp will post 3.86 earnings per share for the current year.

U.S. Bancorp declared that its board has approved a stock buyback plan on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors 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 4.46%. 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.