U.S. Bancorp $USB Stake Increased by Knights of Columbus Asset Advisors LLC

Knights of Columbus Asset Advisors LLC raised its stake in U.S. Bancorp (NYSE:USB) by 54.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 95,054 shares of the financial services provider’s stock after buying an additional 33,450 shares during the quarter. Knights of Columbus Asset Advisors LLC’s holdings in U.S. Bancorp were worth $5,490,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. AMG National Trust Bank raised its holdings in shares of U.S. Bancorp by 2.0% during the 3rd quarter. AMG National Trust Bank now owns 103,426 shares of the financial services provider’s stock worth $5,974,000 after acquiring an additional 2,035 shares during the period. Mesirow Financial Investment Management Inc. boosted its position in shares of U.S. Bancorp by 13.0% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 19,669 shares of the financial services provider’s stock valued at $1,136,000 after acquiring an additional 2,259 shares during the last quarter. Keybank National Association OH boosted its position in shares of U.S. Bancorp by 5.6% during the 3rd quarter. Keybank National Association OH now owns 106,446 shares of the financial services provider’s stock valued at $6,148,000 after acquiring an additional 5,687 shares during the last quarter. Csenge Advisory Group grew its holdings in shares of U.S. Bancorp by 14.4% in the third quarter. Csenge Advisory Group now owns 34,085 shares of the financial services provider’s stock valued at $1,969,000 after purchasing an additional 4,302 shares during the period. Finally, D Orazio & Associates Inc. grew its holdings in shares of U.S. Bancorp by 5.8% in the third quarter. D Orazio & Associates Inc. now owns 9,622 shares of the financial services provider’s stock valued at $556,000 after purchasing an additional 530 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Price Performance

NYSE:USB opened at $60.72 on Wednesday. U.S. Bancorp has a 52 week low of $45.02 and a 52 week high of $66.07. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $94.61 billion, a P/E ratio of 11.84, a P/E/G ratio of 1.16 and a beta of 1.02. The stock’s fifty day moving average is $59.60 and its two-hundred day moving average is $58.23.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.02. The business had revenue of $8.04 billion during the quarter, compared to analysts’ expectations of $8 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.22 EPS. Equities analysts expect that U.S. Bancorp will post 5.30 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a $0.54 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.52. This represents a $2.16 dividend on an annualized basis and a yield of 3.6%. U.S. Bancorp’s dividend payout ratio is currently 42.11%.

Insider Buying and Selling

In other U.S. Bancorp news, CEO Gunjan Kedia sold 27,267 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the completion of the transaction, the chief executive officer owned 426,262 shares of the company’s stock, valued at $26,585,960.94. This trade represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

USB has been the subject of several recent analyst reports. Argus raised their price objective on shares of U.S. Bancorp from $63.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, July 16th. UBS Group boosted their target price on shares of U.S. Bancorp from $64.00 to $66.00 and gave the company a “neutral” rating in a report on Monday, November 2nd. Wolfe Research started coverage on shares of U.S. Bancorp in a report on Tuesday, October 27th. They issued a “peer perform” rating on the stock. Royal Bank Of Canada dropped their price target on shares of U.S. Bancorp from $68.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday, October 16th. Finally, Wells Fargo & Company raised their price target on shares of U.S. Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $68.65.

About U.S. Bancorp

U.S. Bancorp is the parent company of U.S. Bank, a financial services provider serving consumers, businesses, institutions and government entities across the United States. Its history traces to 1863, when one of its predecessor institutions, First National Bank of Cincinnati, was established. U.S. Bank offers consumer and business banking, lending, payment services, wealth management, investment services and corporate trust services. Its products include checking and savings accounts, credit cards, mortgages, commercial loans and digital banking solutions.