U.S. Bancorp (NYSE:USB) Shares Purchased by Ieq Capital LLC

Ieq Capital LLC boosted its stake in shares of U.S. Bancorp (NYSE:USB) by 17.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 64,479 shares of the financial services provider’s stock after acquiring an additional 9,704 shares during the quarter. Ieq Capital LLC’s holdings in U.S. Bancorp were worth $2,560,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of USB. Redwood Wealth Management Group LLC acquired a new stake in shares of U.S. Bancorp during the second quarter worth $25,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in shares of U.S. Bancorp in the 1st quarter worth $30,000. 1620 Investment Advisors Inc. purchased a new stake in shares of U.S. Bancorp in the second quarter valued at about $30,000. Eagle Bay Advisors LLC increased its stake in shares of U.S. Bancorp by 93.2% during 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 period. Finally, LRI Investments LLC purchased a new position in U.S. Bancorp during the first quarter worth about $31,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

USB has been the topic of a number of analyst reports. The Goldman Sachs Group lowered their price objective on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Citigroup upped their price objective on U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Wells Fargo & Company raised their target price on U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Evercore ISI upped their price target on shares of U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Finally, JPMorgan Chase & Co. cut shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective for the company. in a research note on Thursday, June 27th. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $48.18.

Insider Buying and Selling

In other U.S. Bancorp news, Director Aleem Gillani purchased 10,000 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was bought at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,900. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Stock Performance

U.S. Bancorp stock opened at $46.01 on Friday. 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 fifty-two week low of $30.47 and a fifty-two week high of $47.31. The stock has a fifty day moving average of $44.39 and a two-hundred day moving average of $42.31. The company has a market capitalization of $71.80 billion, a price-to-earnings ratio of 15.24, a PEG 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. The firm 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%. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.12 EPS. On average, analysts anticipate that U.S. Bancorp will post 3.87 EPS for the current fiscal year.

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 dividend of $0.50 per share. This is an increase 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 annualized dividend and a dividend yield of 4.35%. U.S. Bancorp’s dividend payout ratio is presently 66.23%.

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

About U.S. Bancorp

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.