West Family Investments Inc. Acquires 1,128 Shares of U.S. Bancorp (NYSE:USB)

West Family Investments Inc. grew its holdings in U.S. Bancorp (NYSE:USB) by 21.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 6,321 shares of the financial services provider’s stock after purchasing an additional 1,128 shares during the period. West Family Investments Inc.’s holdings in U.S. Bancorp were worth $289,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of U.S. Bancorp in the 3rd quarter valued at $5,950,000. Fifth Third Wealth Advisors LLC increased its stake in shares of U.S. Bancorp by 1.8% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 20,084 shares of the financial services provider’s stock valued at $918,000 after purchasing an additional 355 shares during the last quarter. Prospera Financial Services Inc increased its stake in shares of U.S. Bancorp by 16.4% in the 3rd quarter. Prospera Financial Services Inc now owns 112,826 shares of the financial services provider’s stock valued at $5,160,000 after purchasing an additional 15,908 shares during the last quarter. Meeder Asset Management Inc. increased its stake in shares of U.S. Bancorp by 5,823.8% in the 3rd quarter. Meeder Asset Management Inc. now owns 28,612 shares of the financial services provider’s stock valued at $1,308,000 after purchasing an additional 28,129 shares during the last quarter. Finally, Vertex Planning Partners LLC bought a new stake in U.S. Bancorp during the 3rd quarter worth $203,000. Institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling

In related news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the transaction, the insider now directly owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This represents a 16.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Stock Down 0.4 %

Shares of NYSE:USB opened at $50.41 on Wednesday. The company has a market capitalization of $78.64 billion, a price-to-earnings ratio of 15.42, a P/E/G ratio of 2.94 and a beta of 1.02. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The business’s 50-day moving average is $47.21 and its 200-day moving average is $43.86. U.S. Bancorp has a 1 year low of $36.49 and a 1 year high of $51.76.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. The company had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm’s revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.05 EPS. Equities research analysts predict that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp declared that its board has authorized a share repurchase 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 repurchase up to 7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.50 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a yield of 3.97%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s dividend payout ratio is 61.16%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on USB shares. The Goldman Sachs Group reduced their price objective on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Royal Bank of Canada set a $53.00 price objective on U.S. Bancorp in a research report on Thursday, October 17th. Barclays boosted their price objective on U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lowered U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective on the stock. in a research report on Thursday, October 24th. Finally, Wells Fargo & Company boosted their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp currently has an average rating of “Hold” and a consensus target price of $51.22.

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.