Vontobel Holding Ltd. Has $1.05 Million Stake in U.S. Bancorp (NYSE:USB)

Vontobel Holding Ltd. trimmed its stake in U.S. Bancorp (NYSE:USB) by 34.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,939 shares of the financial services provider’s stock after selling 12,096 shares during the period. Vontobel Holding Ltd.’s holdings in U.S. Bancorp were worth $1,049,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Redwood Wealth Management Group LLC acquired a new stake in shares of U.S. Bancorp during the 2nd quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. bought a new position in U.S. Bancorp during the 1st quarter valued at about $30,000. 1620 Investment Advisors Inc. bought a new position in U.S. Bancorp during the 2nd quarter valued at about $30,000. Eagle Bay Advisors LLC raised its stake in shares of U.S. Bancorp by 93.2% in the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 331 shares during the last quarter. Finally, LRI Investments LLC bought a new position in shares of U.S. Bancorp in the first quarter worth about $31,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on USB. Evercore ISI boosted their target price on shares of U.S. Bancorp from $49.00 to $51.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group dropped their target price on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Royal Bank of Canada set a $53.00 target price on shares of U.S. Bancorp in a research note on Thursday. Oppenheimer boosted their target price on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Wells Fargo & Company boosted their price target on shares of U.S. Bancorp from $52.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $50.71.

U.S. Bancorp Price Performance

Shares of USB opened at $49.16 on Monday. The firm has a market capitalization of $76.71 billion, a PE ratio of 16.28, a PEG ratio of 3.32 and a beta of 1.03. The company’s 50-day moving average is $45.24 and its 200-day moving average is $42.66. U.S. Bancorp has a fifty-two week low of $30.47 and a fifty-two week high of $50.47. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The business had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the prior year, the company posted $1.05 earnings per share. U.S. Bancorp’s revenue was down 2.4% compared to the same quarter last year. Equities analysts forecast that U.S. Bancorp will post 3.86 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 4.07%. U.S. Bancorp’s dividend payout ratio is 66.23%.

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

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.