Cerity Partners LLC Raises Holdings in U.S. Bancorp (NYSE:USB)

Cerity Partners LLC boosted its position in U.S. Bancorp (NYSE:USB) by 17.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 697,059 shares of the financial services provider’s stock after acquiring an additional 101,264 shares during the quarter. Cerity Partners LLC’s holdings in U.S. Bancorp were worth $31,881,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in USB. McAdam LLC increased its holdings in shares of U.S. Bancorp by 2.5% in the 3rd quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock valued at $389,000 after purchasing an additional 209 shares during the period. Covestor Ltd increased its stake in U.S. Bancorp by 15.2% in the 3rd quarter. Covestor Ltd now owns 1,741 shares of the financial services provider’s stock valued at $80,000 after buying an additional 230 shares during the period. Valmark Advisers Inc. lifted its position in U.S. Bancorp by 2.9% in the 2nd quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock worth $346,000 after buying an additional 242 shares in the last quarter. Phillips Wealth Planners LLC boosted its stake in shares of U.S. Bancorp by 2.1% during the 3rd quarter. Phillips Wealth Planners LLC now owns 12,056 shares of the financial services provider’s stock valued at $593,000 after buying an additional 243 shares during the period. Finally, Waldron Private Wealth LLC grew its holdings in shares of U.S. Bancorp by 1.9% during the 2nd quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock valued at $534,000 after acquiring an additional 247 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

U.S. Bancorp stock opened at $52.49 on Monday. The firm has a market capitalization of $81.89 billion, a P/E ratio of 16.05, a P/E/G ratio of 3.03 and a beta of 1.02. The stock has a fifty day moving average price of $47.63 and a two-hundred day moving average price of $44.06. U.S. Bancorp has a 52-week low of $36.49 and a 52-week high of $52.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The business had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the company posted $1.05 EPS. As a group, analysts anticipate that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.50 dividend. 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 3.81%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s payout ratio is presently 61.16%.

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

Analyst Ratings Changes

A number of analysts recently issued reports on the company. The Goldman Sachs Group reduced 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. Evercore ISI lifted their price objective on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Oppenheimer increased their target price on shares of U.S. Bancorp from $59.00 to $64.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a research report on Thursday, October 17th. Finally, Barclays increased their price target on U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Thirteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $51.22.

Insider Buying and Selling

In other U.S. Bancorp 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 transaction of $1,225,750.00. Following the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Company 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.