60,362 Shares in U.S. Bancorp (NYSE:USB) Acquired by OneAscent Wealth Management LLC

OneAscent Wealth Management LLC bought a new position in shares of U.S. Bancorp (NYSE:USBFree Report) in the third quarter, Holdings Channel reports. The fund bought 60,362 shares of the financial services provider’s stock, valued at approximately $2,791,000. U.S. Bancorp makes up approximately 1.1% of OneAscent Wealth Management LLC’s investment portfolio, making the stock its 7th biggest holding.

Other hedge funds have also recently added to or reduced their stakes in the company. Davis Selected Advisers raised its holdings in U.S. Bancorp by 0.3% during the 2nd quarter. Davis Selected Advisers now owns 14,228,444 shares of the financial services provider’s stock worth $564,869,000 after buying an additional 43,437 shares during the period. Bank of New York Mellon Corp boosted its stake in U.S. Bancorp by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,312,930 shares of the financial services provider’s stock worth $528,523,000 after purchasing an additional 94,841 shares during the period. Legal & General Group Plc grew its position in U.S. Bancorp by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock worth $491,364,000 after purchasing an additional 325,374 shares in the last quarter. Van ECK Associates Corp raised its stake in U.S. Bancorp by 3.9% during the 3rd quarter. Van ECK Associates Corp now owns 9,852,013 shares of the financial services provider’s stock valued at $478,118,000 after purchasing an additional 373,559 shares during the period. Finally, Clearbridge Investments LLC raised its stake in U.S. Bancorp by 0.3% during the 2nd quarter. Clearbridge Investments LLC now owns 6,962,394 shares of the financial services provider’s stock valued at $276,407,000 after purchasing an additional 20,928 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insiders Place Their Bets

In other U.S. Bancorp 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 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 $6,363,603.70. This represents a 16.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

USB has been the topic of a number of research analyst reports. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a report on Thursday, October 17th. Stephens lifted their target price on U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. DA Davidson upped their target price on U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Royal Bank of Canada set a $53.00 price target on shares of U.S. Bancorp in a report on Thursday, October 17th. Finally, The Goldman Sachs Group cut their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Thirteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Hold” and an average price target of $51.22.

Get Our Latest Stock Report on USB

U.S. Bancorp Stock Performance

Shares of USB stock traded up $0.18 during trading on Monday, reaching $50.08. The company had a trading volume of 327,590 shares, compared to its average volume of 8,337,011. The firm’s 50 day simple moving average is $46.99 and its two-hundred day simple moving average is $43.73. U.S. Bancorp has a one year low of $36.49 and a one year high of $51.76. 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 $78.13 billion, a PE ratio of 15.26, a PEG ratio of 2.94 and a beta of 1.02.

U.S. Bancorp (NYSE:USBGet Free Report) last announced 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 return on equity of 12.91% and a net margin of 12.92%. The company had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter last year, the company posted $1.05 earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. Sell-side analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp announced that its Board of Directors has initiated a stock buyback plan on Thursday, September 12th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders 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 a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.99%. U.S. Bancorp’s payout ratio is presently 61.16%.

U.S. Bancorp Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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