U.S. Bancorp (NYSE:USB) Shares Acquired by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC boosted its position in U.S. Bancorp (NYSE:USB) by 15.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,124 shares of the financial services provider’s stock after purchasing an additional 1,350 shares during the period. TrinityPoint Wealth LLC’s holdings in U.S. Bancorp were worth $463,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Redwood Wealth Management Group LLC purchased a new stake in shares of U.S. Bancorp in the second quarter valued at approximately $25,000. Frazier Financial Advisors LLC boosted its position in shares of U.S. Bancorp by 222.7% during the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 441 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of U.S. Bancorp during the 2nd quarter worth $30,000. LRI Investments LLC purchased a new position in shares of U.S. Bancorp in the 1st quarter valued at about $31,000. Finally, Y.D. More Investments Ltd acquired a new stake in shares of U.S. Bancorp in the second quarter valued at about $33,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

USB has been the subject of a number of research analyst reports. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $54.00 to $57.00 in a report on Monday, September 30th. The Goldman Sachs Group reduced their price objective on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Barclays upped their target price on U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a research note on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective on the stock. in a research note on Thursday, October 24th. Thirteen 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, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.22.

U.S. Bancorp Stock Performance

Shares of NYSE:USB opened at $50.61 on Tuesday. The business has a 50-day moving average of $47.10 and a two-hundred day moving average of $43.79. The firm has a market capitalization of $78.95 billion, a PE ratio of 15.48, 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. U.S. Bancorp has a 12 month low of $36.49 and a 12 month high of $51.76.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The firm had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the prior year, the company earned $1.05 EPS. The company’s revenue was down 2.4% on a year-over-year basis. As a group, research analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current year.

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

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.50 dividend. 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 3.95%. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

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.