StoneX Group Inc. Has $2.80 Million Stock Position in U.S. Bancorp (NYSE:USB)

StoneX Group Inc. boosted its stake in shares of U.S. Bancorp (NYSE:USB) by 14.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,640 shares of the financial services provider’s stock after buying an additional 7,461 shares during the period. StoneX Group Inc.’s holdings in U.S. Bancorp were worth $2,803,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Redwood Wealth Management Group LLC purchased a new stake in shares of U.S. Bancorp in the 2nd quarter valued at approximately $25,000. Frazier Financial Advisors LLC lifted its holdings in shares of U.S. Bancorp by 222.7% in the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 441 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of U.S. Bancorp in the first quarter worth $31,000. 1620 Investment Advisors Inc. purchased a new position in shares of U.S. Bancorp during the second quarter valued at $30,000. Finally, Y.D. More Investments Ltd acquired a new position in U.S. Bancorp during the second quarter valued at $33,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Trading Up 2.1 %

Shares of USB stock opened at $52.49 on Friday. The business’s 50 day moving average is $47.63 and its two-hundred day moving average is $44.05. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a 12 month low of $36.49 and a 12 month high of $52.69. The company has a market cap of $81.89 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 3.03 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $6.90 billion. During the same period last year, the business posted $1.05 EPS. U.S. Bancorp’s revenue was down 2.4% compared to the same quarter last year. Equities analysts predict that U.S. Bancorp will post 3.93 EPS for the current year.

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

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.50 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. This represents a $2.00 annualized dividend and a yield of 3.81%. U.S. Bancorp’s dividend payout ratio is presently 61.16%.

Insider Buying and Selling at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the transaction, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. This represents a 16.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on USB shares. The Goldman Sachs Group decreased their price objective on 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. Stephens boosted their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. DA Davidson increased their target price 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. Oppenheimer boosted their price target on shares of U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $54.00 to $57.00 in a report on Monday, September 30th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target 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.