Voya Financial Advisors Inc. increased its stake in U.S. Bancorp (NYSE:USB) by 11.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 22,483 shares of the financial services provider’s stock after buying an additional 2,362 shares during the quarter. Voya Financial Advisors Inc.’s holdings in U.S. Bancorp were worth $1,038,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Vantage Consulting Group Inc purchased a new position in U.S. Bancorp in the fourth quarter valued at about $27,000. Field & Main Bank purchased a new position in U.S. Bancorp in the fourth quarter valued at about $27,000. Diversified LLC purchased a new position in U.S. Bancorp in the fourth quarter valued at about $28,000. Salem Investment Counselors Inc. boosted its holdings in U.S. Bancorp by 92.3% in the fourth quarter. Salem Investment Counselors Inc. now owns 600 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 288 shares during the last quarter. Finally, Jeppson Wealth Management LLC purchased a new position in U.S. Bancorp in the third quarter valued at about $31,000. Institutional investors and hedge funds own 71.73% of the company’s stock.
A number of research analysts recently commented on the company. Morgan Stanley increased their price target on U.S. Bancorp from $57.00 to $58.00 and gave the company an “equal weight” rating in a report on Monday, March 8th. Royal Bank of Canada increased their target price on U.S. Bancorp from $42.00 to $52.00 in a report on Thursday, December 10th. Odeon Capital Group raised U.S. Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, March 24th. Zacks Investment Research raised U.S. Bancorp from a “hold” rating to a “strong-buy” rating and set a $52.00 target price on the stock in a report on Thursday, December 17th. Finally, Bank of America downgraded U.S. Bancorp from a “neutral” rating to an “underperform” rating and increased their target price for the stock from $44.00 to $52.00 in a report on Thursday, January 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. U.S. Bancorp has an average rating of “Buy” and an average target price of $53.28.
U.S. Bancorp (NYSE:USB) last posted its earnings results on Tuesday, January 19th. The financial services provider reported $0.95 EPS for the quarter, meeting the consensus estimate of $0.95. U.S. Bancorp had a return on equity of 10.99% and a net margin of 18.68%. The firm had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.80 billion. During the same period last year, the firm earned $0.90 EPS. The firm’s revenue was up 1.5% compared to the same quarter last year. Equities analysts anticipate that U.S. Bancorp will post 3.06 EPS for the current year.
U.S. Bancorp declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 22nd that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Tuesday, March 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 38.71%.
U.S. Bancorp Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments. The company offers depository services, including checking accounts, savings accounts, and time certificate contracts; lending services, such as traditional credit products; and credit card services, lease financing and import/export trade, asset-backed lending, agricultural finance, and other products.
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