211,063 Shares in U.S. Bancorp (NYSE:USB) Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC purchased a new stake in U.S. Bancorp (NYSE:USB) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 211,063 shares of the financial services provider’s stock, valued at approximately $8,679,000.

Several other institutional investors have also recently made changes to their positions in USB. Brookstone Capital Management grew its position in U.S. Bancorp by 2,056.5% in the 1st quarter. Brookstone Capital Management now owns 218,668 shares of the financial services provider’s stock valued at $9,774,000 after purchasing an additional 208,528 shares during the period. Manning & Napier Advisors LLC purchased a new stake in U.S. Bancorp in the 2nd quarter valued at $20,188,000. Public Employees Retirement Association of Colorado lifted its stake in U.S. Bancorp by 2,440.9% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 227,307 shares of the financial services provider’s stock valued at $9,838,000 after acquiring an additional 218,361 shares in the last quarter. Mission Wealth Management LP boosted its holdings in U.S. Bancorp by 200.7% during the 1st quarter. Mission Wealth Management LP now owns 18,273 shares of the financial services provider’s stock worth $817,000 after acquiring an additional 12,197 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in U.S. Bancorp by 6.4% during the 1st quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock worth $12,363,000 after acquiring an additional 16,686 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 0.6 %

Shares of NYSE USB opened at $43.98 on Friday. The stock has a market capitalization of $68.63 billion, a P/E ratio of 14.56, a PEG ratio of 3.06 and a beta of 1.03. U.S. Bancorp has a one year low of $30.47 and a one year high of $47.31. The firm’s 50 day simple moving average is $44.49 and its two-hundred day simple moving average is $42.45. 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 earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.94 by $0.04. The company had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.12 EPS. As a group, analysts expect that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

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 issued a dividend of $0.50 per share. The ex-dividend date is Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 4.55%. U.S. Bancorp’s dividend payout ratio is currently 66.23%.

U.S. Bancorp declared that its Board of Directors has approved a stock repurchase plan 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 plans are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

USB has been the topic of a number of recent analyst reports. Oppenheimer raised their price target on shares of U.S. Bancorp from $54.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday. DA Davidson boosted their target price on U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $54.00 to $57.00 in a report on Monday. UBS Group lifted their price target on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Finally, Jefferies Financial Group reduced their price objective on 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. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $48.65.

Insider Buying and Selling

In related news, Director Aleem Gillani acquired 10,000 shares of the stock in a transaction on Thursday, July 18th. The stock was purchased at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the transaction, 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 SEC, which is available at the SEC website. 0.23% of the stock is owned by corporate 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.