EP Wealth Advisors LLC Raises Stock Holdings in U.S. Bancorp (NYSE:USB)

EP Wealth Advisors LLC boosted its stake in shares of U.S. Bancorp (NYSE:USB) by 27.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,040 shares of the financial services provider’s stock after buying an additional 17,457 shares during the quarter. EP Wealth Advisors LLC’s holdings in U.S. Bancorp were worth $3,217,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Redwood Wealth Management Group LLC acquired a new position in shares of U.S. Bancorp in the 2nd quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. acquired a new position in U.S. Bancorp during the first quarter worth $30,000. 1620 Investment Advisors Inc. purchased a new position in shares of U.S. Bancorp during the second quarter worth $30,000. Eagle Bay Advisors LLC grew 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 valued at $31,000 after buying an additional 331 shares in the last quarter. Finally, LRI Investments LLC purchased a new stake in shares of U.S. Bancorp in the 1st quarter valued at $31,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Stock Up 1.6 %

Shares of NYSE USB opened at $45.73 on Tuesday. The stock has a market cap of $71.36 billion, a PE ratio of 15.14, a price-to-earnings-growth 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 business has a 50-day moving average price of $44.54 and a 200 day moving average price of $42.40. 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 (NYSE:USB) last announced its earnings results 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 business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.12 earnings per share. Equities research analysts forecast that U.S. Bancorp will post 3.86 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend is Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio is 66.23%.

U.S. Bancorp declared that its board has initiated a stock repurchase program on Thursday, September 12th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Evercore ISI lifted their target price on U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. JPMorgan Chase & Co. downgraded shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price on the stock. in a research note on Thursday, June 27th. Jefferies Financial Group decreased their price target on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. The Goldman Sachs Group dropped their price target on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Finally, Citigroup increased their price objective on U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, U.S. Bancorp presently has an average rating of “Hold” and an average price target of $48.34.

Insider Activity at U.S. Bancorp

In other news, Director Aleem Gillani acquired 10,000 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was bought at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $449,900. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.23% of the stock is currently owned by insiders.

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.