Atomi Financial Group Inc. Has $1.10 Million Stock Holdings in U.S. Bancorp (NYSE:USB)

Atomi Financial Group Inc. boosted its stake in U.S. Bancorp (NYSE:USB) by 35.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 24,039 shares of the financial services provider’s stock after buying an additional 6,264 shares during the period. Atomi Financial Group Inc.’s holdings in U.S. Bancorp were worth $1,099,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Redwood Wealth Management Group LLC acquired a new position in shares of U.S. Bancorp in the second quarter valued at approximately $25,000. Financial Synergies Wealth Advisors Inc. bought a new position in U.S. Bancorp during the 1st quarter worth $30,000. LRI Investments LLC acquired a new stake in shares of U.S. Bancorp during the first quarter worth $31,000. Eagle Bay Advisors LLC boosted its position 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 acquiring an additional 331 shares during the period. Finally, 1620 Investment Advisors Inc. acquired a new position in shares of U.S. Bancorp in the second quarter valued at about $30,000. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Performance

NYSE USB opened at $44.26 on Wednesday. The firm’s fifty day moving average price is $44.46 and its two-hundred day moving average price is $42.46. The stock has a market cap of $69.07 billion, a PE ratio of 14.66, a PEG ratio of 3.06 and a beta of 1.03. 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.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. U.S. Bancorp’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.12 EPS. On average, equities analysts expect that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is 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 yield of 4.52%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 66.23%.

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

Analyst Upgrades and Downgrades

A number of analysts have issued reports on USB shares. StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. DA Davidson boosted their price target on U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. 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 research note on Wednesday, September 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $48.00 price objective on shares of U.S. Bancorp in a report on Friday, September 13th. Finally, Wells Fargo & Company increased their target price on U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. 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.com, U.S. Bancorp currently has a consensus rating of “Hold” and a consensus price target of $48.65.

Insiders Place Their Bets

In other U.S. Bancorp news, Director Aleem Gillani purchased 10,000 shares of the company’s stock in a transaction dated 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 completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,900. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.23% of the company’s stock.

U.S. Bancorp 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.