Empower Advisory Group LLC Increases Holdings in U.S. Bancorp (NYSE:USB)

Empower Advisory Group LLC lifted its position in shares of U.S. Bancorp (NYSE:USB) by 11.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,625 shares of the financial services provider’s stock after acquiring an additional 572 shares during the quarter. Empower Advisory Group LLC’s holdings in U.S. Bancorp were worth $257,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of USB. Redwood Wealth Management Group LLC purchased a new stake in U.S. Bancorp in the 2nd quarter valued at approximately $25,000. 1620 Investment Advisors Inc. purchased a new stake in U.S. Bancorp in the 2nd quarter valued at approximately $30,000. LRI Investments LLC purchased a new stake in U.S. Bancorp in the 1st quarter valued at approximately $31,000. Y.D. More Investments Ltd purchased a new stake in U.S. Bancorp in the 2nd quarter valued at approximately $33,000. Finally, Crewe Advisors LLC purchased a new stake in U.S. Bancorp in the 1st quarter valued at approximately $39,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 0.8 %

Shares of U.S. Bancorp stock opened at $49.90 on Friday. The business has a 50-day moving average of $46.88 and a 200-day moving average of $43.63. 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 company has a market capitalization of $77.85 billion, a PE ratio of 15.26, a P/E/G ratio of 3.02 and a beta of 1.02. 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 earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.04. The company had revenue of $6.86 billion during 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 company’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm earned $1.05 earnings per share. As a group, equities analysts forecast that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp declared that its Board of Directors has approved a stock repurchase program 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 reacquire up to 7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was 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 4.01%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 61.16%.

Insider Transactions at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the transaction, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

USB has been the topic of a number of recent analyst reports. Barclays increased their price target on U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Evercore ISI increased their price target on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Wells Fargo & Company increased their price target on U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday. Robert W. Baird set a $54.00 target price on U.S. Bancorp in a research report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft lowered U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a research report on Thursday, October 24th. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $51.22.

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.