Lake Street Advisors Group LLC Purchases 620 Shares of U.S. Bancorp (NYSE:USB)

Lake Street Advisors Group LLC has increased its investment in U.S. Bancorp (NYSE:USB) by 5.3% during the third quarter of this year. The firm now holds a total of 12,296 shares after acquiring an additional 620 shares in the recent period. As of the end of the last quarter, these shares are valued at approximately $568,000.

Other institutional investors have also been active in the stock, adjusting their positions in U.S. Bancorp. For example, Manning & Napier Advisors LLC established a new stake worth $20.2 million in the second quarter. Similarly, Mission Wealth Management LP saw a considerable increase in its holdings, raising its position by 200.7% during the first quarter, resulting in ownership of 18,273 shares, valued at $817,000 after purchasing an additional 12,197 shares. Other notable investors include Janus Henderson Group PLC, which increased their position by 6.4%, and Mirae Asset Global Investments Co. Ltd., which boosted their stake by 90.3% during the same time frame. Currently, institutional investors and hedge funds own roughly 77.60% of U.S. Bancorp's stock.

Recent Insider Transactions

In related news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp on October 18th, receiving $49.03 per share, bringing the transaction total to $1,225,750. Following this sale, Richard now holds 129,790 shares in the company, valued at around $6.4 million. Insiders currently own about 0.23% of the company's stock.

Analyst Ratings and Performance

Several analysts have recently provided updates regarding U.S. Bancorp's stock. Evercore ISI increased its price target from $49.00 to $51.00 while maintaining an "in-line" rating. Barclays also raised their price objective from $52.00 to $57.00, giving it an "overweight" rating. On the other hand, Jefferies Financial Group decreased their target from $43.00 to $42.00, marking a "hold" rating for the stock. UBS Group adjusted their price target upward from $43.00 to $46.00, maintaining a "neutral" rating. Collectively, analysts have a mixed outlook, with thirteen providing hold ratings and eight suggesting buy ratings, leading to a consensus hold rating with a price target averaging $50.72.

U.S. Bancorp opened at $47.74 this past Friday, with a market capitalization of $74.5 billion. The firm has a price-to-earnings ratio of 14.60 and a beta of 1.03. The stock has fluctuated between a one-year low of $30.47 and a high of $50.47.

On October 16th, U.S. Bancorp announced its quarterly earnings, reporting earnings per share of $1.03, which surpassed analysts' estimates of $0.99. However, revenue reached $6.86 billion, slightly below the consensus estimate of $6.90 billion. Year-over-year, U.S. Bancorp’s revenue was down by 2.4% compared to the previous fiscal year.

Dividend Declaration and Stock Buyback Plan

Moreover, U.S. Bancorp declared a quarterly dividend of $0.50, which was paid on October 15th to stockholders of record as of September 30th. This annualizes to a dividend of $2.00 and represents a yield of 4.19%, reflecting an increase from the previous quarterly dividend of $0.49. The current payout ratio stands at 61.16%. Additionally, the Board of Directors has approved a stock buyback plan valued at $5.0 billion, allowing the company to repurchase up to 7% of its outstanding shares. Such actions typically indicate the board's belief that the stock is undervalued in the market.

Company Overview

U.S. Bancorp is a financial services holding company offering a range of financial solutions to individuals, businesses, institutional clients, and government entities across the United States. The services are organized into several segments, including Wealth Management, Corporate Banking, Consumer Banking, and Payment Solutions.

investment, shares, financial