Birchcreek Wealth Management LLC Makes New $213,000 Investment in U.S. Bancorp (NYSE:USB)

Birchcreek Wealth Management LLC bought a new position in U.S. Bancorp (NYSE:USB) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 4,659 shares of the financial services provider’s stock, valued at approximately $213,000.

Other institutional investors also recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in U.S. Bancorp by 23.6% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 233,819 shares of the financial services provider’s stock valued at $10,452,000 after purchasing an additional 44,624 shares during the period. Blair William & Co. IL boosted its holdings in shares of U.S. Bancorp by 14.3% in the first quarter. Blair William & Co. IL now owns 196,913 shares of the financial services provider’s stock valued at $8,802,000 after buying an additional 24,589 shares during the period. Orion Portfolio Solutions LLC boosted its holdings in shares of U.S. Bancorp by 7.9% in the first quarter. Orion Portfolio Solutions LLC now owns 133,420 shares of the financial services provider’s stock valued at $5,964,000 after buying an additional 9,733 shares during the period. M&G Plc acquired a new position in shares of U.S. Bancorp in the first quarter valued at approximately $8,133,000. Finally, Pinnacle Wealth Planning Services Inc. boosted its holdings in shares of U.S. Bancorp by 23.3% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 10,012 shares of the financial services provider’s stock valued at $448,000 after buying an additional 1,890 shares during the period. 77.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

USB has been the subject of several research analyst reports. Royal Bank of Canada set a $53.00 price target on shares of U.S. Bancorp in a report on Thursday, October 17th. Stephens boosted their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Evercore ISI boosted their price objective on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. DA Davidson boosted their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, UBS Group boosted their price objective on shares of U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $51.22.

U.S. Bancorp Stock Performance

Shares of NYSE:USB traded up $0.21 on Friday, hitting $50.52. The company had a trading volume of 536,378 shares, compared to its average volume of 8,314,376. U.S. Bancorp has a 1-year low of $36.49 and a 1-year high of $51.76. The stock has a market cap of $78.81 billion, a price-to-earnings ratio of 15.45, a P/E/G ratio of 3.02 and a beta of 1.02. The stock has a 50 day moving average price of $46.88 and a 200 day moving average price of $43.63. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04.

U.S. Bancorp (NYSE:USB) last released its quarterly 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. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the prior year, the company posted $1.05 earnings per share. U.S. Bancorp’s revenue was down 2.4% compared to the same quarter last year. Analysts expect that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.50 dividend. 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 3.96%. U.S. Bancorp’s dividend payout ratio is 61.16%.

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

Insider Activity 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 value of $1,225,750.00. Following the completion of the transaction, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is currently owned by corporate insiders.

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.