U.S. Bancorp (NYSE:USB) Shares Purchased by Brighton Jones LLC

Brighton Jones LLC increased its holdings in shares of U.S. Bancorp (NYSE:USB) by 55.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,343 shares of the financial services provider’s stock after acquiring an additional 15,531 shares during the quarter. Brighton Jones LLC’s holdings in U.S. Bancorp were worth $1,721,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. XTX Topco Ltd raised its stake in U.S. Bancorp by 113.6% during the second quarter. XTX Topco Ltd now owns 57,968 shares of the financial services provider’s stock worth $2,301,000 after acquiring an additional 30,824 shares during the period. Seven Eight Capital LP acquired a new stake in U.S. Bancorp during the second quarter worth about $1,170,000. Meiji Yasuda Asset Management Co Ltd. raised its stake in U.S. Bancorp by 6.5% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 234,050 shares of the financial services provider’s stock worth $9,292,000 after acquiring an additional 14,293 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in U.S. Bancorp by 4.3% during the second quarter. Mercer Global Advisors Inc. ADV now owns 180,386 shares of the financial services provider’s stock worth $7,757,000 after acquiring an additional 7,481 shares during the period. Finally, Edgestream Partners L.P. acquired a new stake in shares of U.S. Bancorp in the second quarter valued at approximately $2,495,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Buying and Selling

In other 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 purchased at an average price of $44.99 per share, with a total value of $449,900.00. Following the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,900. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Down 1.0 %

U.S. Bancorp stock opened at $46.01 on Friday. The company has a 50 day moving average price of $44.39 and a 200 day moving average price of $42.32. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $47.31. 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 firm has a market capitalization of $71.80 billion, a price-to-earnings ratio of 15.24, a P/E/G ratio of 4.36 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The firm had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.81 billion. During the same quarter last year, the business posted $1.12 EPS. The company’s revenue was down 4.3% on a year-over-year basis. Research analysts forecast that U.S. Bancorp will post 3.87 EPS for the current year.

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

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.50 dividend. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.35%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 66.23%.

Wall Street Analyst Weigh In

Several brokerages have commented on USB. Wells Fargo & Company raised their price target on shares of U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. UBS Group raised their price target on shares of U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. DA Davidson raised their price target on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. lowered shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target on the stock. in a research note on Thursday, June 27th. Finally, StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus 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.