U.S. Bancorp (NYSE:USB) Shares Purchased by Royal Fund Management LLC

Royal Fund Management LLC boosted its stake in U.S. Bancorp (NYSE:USB) by 95.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 164,654 shares of the financial services provider’s stock after purchasing an additional 80,539 shares during the period. Royal Fund Management LLC’s holdings in U.S. Bancorp were worth $7,566,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in USB. Valmark Advisers Inc. grew its holdings in shares of U.S. Bancorp by 2.9% in the second quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock valued at $346,000 after purchasing an additional 242 shares in the last quarter. Waldron Private Wealth LLC grew its stake in shares of U.S. Bancorp by 1.9% in the second quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock worth $534,000 after acquiring an additional 247 shares in the last quarter. Naples Global Advisors LLC increased its position in shares of U.S. Bancorp by 0.4% during the second quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock worth $2,624,000 after acquiring an additional 248 shares during the period. Kavar Capital Partners Group LLC raised its stake in shares of U.S. Bancorp by 4.7% in the second quarter. Kavar Capital Partners Group LLC now owns 5,555 shares of the financial services provider’s stock valued at $221,000 after acquiring an additional 250 shares in the last quarter. Finally, STAR Financial Bank boosted its holdings in U.S. Bancorp by 3.3% in the second quarter. STAR Financial Bank now owns 7,772 shares of the financial services provider’s stock valued at $309,000 after purchasing an additional 250 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

USB traded up $0.28 during trading on Wednesday, hitting $44.54. 474,334 shares of the stock were exchanged, compared to its average volume of 8,220,803. 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 has a 1-year low of $30.47 and a 1-year high of $47.31. The stock has a fifty day moving average price of $44.43 and a two-hundred day moving average price of $42.46. The firm has a market capitalization of $69.50 billion, a P/E ratio of 14.66, a PEG ratio of 3.06 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, beating 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 business had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.81 billion. During the same period in the previous year, the company posted $1.12 EPS. The company’s quarterly revenue was down 4.3% on a year-over-year basis. As a group, sell-side analysts predict 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. Investors of record on Monday, September 30th will be issued 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 dividend yield of 4.49%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 66.23%.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on USB shares. The Goldman Sachs Group cut their price target 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. Jefferies Financial Group cut their target price on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. DA Davidson lifted their price target on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $48.00 price target on shares of U.S. Bancorp in a report on Friday, September 13th. Finally, Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $54.00 to $57.00 in a report on Monday, September 30th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Hold” and a consensus target price of $48.65.

Insider Activity at U.S. Bancorp

In other news, Director Aleem Gillani bought 10,000 shares of U.S. Bancorp stock in a transaction dated 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 purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,900. The purchase was disclosed in a document filed with the SEC, 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.