Hexagon Capital Partners LLC Raises Stock Position in U.S. Bancorp (NYSE:USB)

Hexagon Capital Partners LLC boosted its position in U.S. Bancorp (NYSE:USB) by 13.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,672 shares of the financial services provider’s stock after purchasing an additional 550 shares during the period. Hexagon Capital Partners LLC’s holdings in U.S. Bancorp were worth $214,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Madison Wealth Partners Inc acquired a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $203,000. Quarry LP purchased a new position in U.S. Bancorp in the 4th quarter valued at about $45,000. Covenant Partners LLC acquired a new stake in shares of U.S. Bancorp during the 4th quarter worth about $597,000. Sunpointe LLC purchased a new stake in shares of U.S. Bancorp during the fourth quarter worth about $266,000. Finally, V Square Quantitative Management LLC grew its stake in U.S. Bancorp by 40.7% in the 4th quarter. V Square Quantitative Management LLC now owns 25,465 shares of the financial services provider’s stock worth $1,102,000 after acquiring an additional 7,364 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Trading Down 0.3 %

Shares of NYSE USB opened at $44.95 on Friday. The stock has a market capitalization of $70.13 billion, a P/E ratio of 14.88, a PEG ratio of 3.06 and a beta of 1.03. The stock’s 50 day moving average price is $44.44 and its two-hundred day moving average price is $42.48. 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 52-week low of $30.47 and a 52-week high of $47.31.

U.S. Bancorp (NYSE:USB) last released 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 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 firm’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.12 earnings per share. On average, analysts anticipate that U.S. Bancorp will post 3.86 earnings per share 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 given a $0.50 dividend. The ex-dividend date 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 4.45%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 66.23%.

U.S. Bancorp declared that its Board of Directors has approved a share buyback plan 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 shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. lowered U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target on the stock. in a research note on Thursday, June 27th. Oppenheimer raised their target price on shares of U.S. Bancorp from $54.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. 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 report on Wednesday, September 11th. UBS Group lifted their price target on shares of U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $48.00 price target on shares of U.S. Bancorp in a research note on Friday, September 13th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $49.14.

Insider Transactions at U.S. Bancorp

In other news, Director Aleem Gillani acquired 10,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The stock was acquired at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at $449,900. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Company 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.