Phillips Wealth Planners LLC Has $593,000 Holdings in U.S. Bancorp (NYSE:USB)

Phillips Wealth Planners LLC boosted its position in shares of U.S. Bancorp (NYSE:USB) by 2.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,056 shares of the financial services provider’s stock after purchasing an additional 243 shares during the period. Phillips Wealth Planners LLC’s holdings in U.S. Bancorp were worth $593,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of U.S. Bancorp by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider’s stock worth $6,051,096,000 after acquiring an additional 502,776 shares in the last quarter. Davis Selected Advisers grew its stake in shares of U.S. Bancorp by 0.3% during the 2nd quarter. Davis Selected Advisers now owns 14,228,444 shares of the financial services provider’s stock worth $564,869,000 after acquiring an additional 43,437 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of U.S. Bancorp by 0.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,312,930 shares of the financial services provider’s stock worth $528,523,000 after acquiring an additional 94,841 shares in the last quarter. Legal & General Group Plc grew its stake in shares of U.S. Bancorp by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock worth $491,364,000 after acquiring an additional 325,374 shares in the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of U.S. Bancorp by 2.9% during the 2nd quarter. Van ECK Associates Corp now owns 9,478,454 shares of the financial services provider’s stock worth $376,295,000 after acquiring an additional 271,078 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

USB has been the subject of several analyst reports. Barclays raised their target price on shares of U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Stephens raised their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $54.00 to $57.00 in a research note on Monday, September 30th. UBS Group raised their target price on shares of U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Finally, Evercore ISI raised their target price 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. Thirteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, U.S. Bancorp currently has a consensus rating of “Hold” and an average price target of $50.87.

U.S. Bancorp Stock Down 1.0 %

USB opened at $47.84 on Friday. U.S. Bancorp has a fifty-two week low of $32.39 and a fifty-two week high of $50.47. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $74.65 billion, a P/E ratio of 14.63, a P/E/G ratio of 2.88 and a beta of 1.03. The stock has a fifty day moving average of $46.23 and a 200-day moving average of $43.05.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The company had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter last year, the firm earned $1.05 earnings per share. The company’s revenue was down 2.4% on a year-over-year basis. On average, equities analysts expect that U.S. Bancorp will post 3.92 EPS for the current 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 paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date was Monday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s payout ratio is 61.16%.

U.S. Bancorp announced that its board has authorized a stock buyback program on Thursday, September 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the transaction, the insider now owns 129,790 shares of the company’s stock, valued at $6,363,603.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is owned by 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.