Culbertson A N & Co. Inc. Acquires 1,800 Shares of U.S. Bancorp (NYSE:USB)

Culbertson A N & Co. Inc. lifted its holdings in U.S. Bancorp (NYSE:USB) by 1.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 97,655 shares of the financial services provider’s stock after purchasing an additional 1,800 shares during the quarter. Culbertson A N & Co. Inc.’s holdings in U.S. Bancorp were worth $4,466,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of USB. Redwood Wealth Management Group LLC acquired a new stake in shares of U.S. Bancorp during the second quarter worth $25,000. Financial Synergies Wealth Advisors Inc. bought a new position in U.S. Bancorp during the 1st quarter worth about $30,000. 1620 Investment Advisors Inc. acquired a new stake in shares of U.S. Bancorp in the 2nd quarter valued at about $30,000. Eagle Bay Advisors LLC lifted its holdings in shares of U.S. Bancorp by 93.2% in the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 331 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in shares of U.S. Bancorp during the first quarter worth about $31,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

USB has been the topic of several research reports. DA Davidson boosted their target price on U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $54.00 to $57.00 in a report on Monday, September 30th. Jefferies Financial Group lowered their price target on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. downgraded shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective for the company. in a research note on Thursday, June 27th. Finally, Oppenheimer lifted their target price on U.S. Bancorp from $54.00 to $57.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $49.14.

U.S. Bancorp Trading Up 4.7 %

Shares of USB stock opened at $49.21 on Thursday. U.S. Bancorp has a fifty-two week low of $30.47 and a fifty-two week high of $50.11. The stock’s fifty day moving average price is $44.94 and its two-hundred day moving average price is $42.58. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. The company has a market cap of $76.78 billion, a PE ratio of 16.29, a P/E/G ratio of 3.32 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.04. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. U.S. Bancorp’s revenue was down 4.3% compared to the same quarter last year. During the same period last year, the firm posted $1.12 earnings per share. Equities analysts predict that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.50 per share. The ex-dividend date 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 annualized dividend and a dividend yield of 4.06%. U.S. Bancorp’s payout ratio is 66.23%.

U.S. Bancorp declared that its Board of Directors has initiated a share repurchase program on Thursday, September 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

About U.S. Bancorp

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.