U.S. Bancorp (NYSE:USB) Stock Holdings Lifted by Meeder Asset Management Inc.

Meeder Asset Management Inc. lifted its position in U.S. Bancorp (NYSE:USB) by 5,823.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,612 shares of the financial services provider’s stock after acquiring an additional 28,129 shares during the quarter. Meeder Asset Management Inc.’s holdings in U.S. Bancorp were worth $1,308,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in USB. Manning & Napier Advisors LLC purchased a new stake in shares of U.S. Bancorp in the second quarter valued at $20,188,000. Janus Henderson Group PLC raised its position in U.S. Bancorp by 6.4% during the first quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock valued at $12,363,000 after buying an additional 16,686 shares during the period. Comerica Bank lifted its stake in U.S. Bancorp by 11.2% in the 1st quarter. Comerica Bank now owns 564,443 shares of the financial services provider’s stock worth $25,231,000 after acquiring an additional 56,738 shares in the last quarter. M&G Plc boosted its position in U.S. Bancorp by 73.9% during the 2nd quarter. M&G Plc now owns 314,241 shares of the financial services provider’s stock worth $12,570,000 after acquiring an additional 133,498 shares during the period. Finally, UniSuper Management Pty Ltd grew its stake in U.S. Bancorp by 1,140.5% during the 1st quarter. UniSuper Management Pty Ltd now owns 20,382 shares of the financial services provider’s stock valued at $911,000 after acquiring an additional 18,739 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 0.4 %

Shares of USB stock opened at $50.41 on Wednesday. U.S. Bancorp has a 12 month low of $36.49 and a 12 month high of $51.76. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The firm has a market cap of $78.64 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 2.94 and a beta of 1.02. The stock has a 50 day moving average of $47.21 and a 200-day moving average of $43.86.

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

U.S. Bancorp declared that its board has approved a share repurchase program on Thursday, September 12th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given 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 dividend on an annualized basis and a yield of 3.97%. U.S. Bancorp’s dividend payout ratio (DPR) is 61.16%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the firm’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 value of $1,225,750.00. Following the completion of the sale, the insider now 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on USB shares. Evercore ISI raised their price target on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Wells Fargo & Company boosted their price target on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft lowered U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective for the company. in a report on Thursday, October 24th. DA Davidson boosted their target price on U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Barclays raised 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. Thirteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock 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.