Pure Financial Advisors Inc. increased its stake in shares of U.S. Bancorp (NYSE:USB) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,229 shares of the financial services provider’s stock after buying an additional 163 shares during the quarter. Pure Financial Advisors Inc.’s holdings in U.S. Bancorp were worth $323,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Shelton Capital Management grew its holdings in U.S. Bancorp by 51.2% during the first quarter. Shelton Capital Management now owns 133,200 shares of the financial services provider’s stock worth $6,860,000 after buying an additional 45,116 shares in the last quarter. Investment Partners Ltd. OH ADV grew its holdings in U.S. Bancorp by 33.6% during the first quarter. Investment Partners Ltd. OH ADV now owns 8,054 shares of the financial services provider’s stock worth $415,000 after buying an additional 2,024 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in U.S. Bancorp by 13.1% during the first quarter. Stratos Wealth Partners LTD. now owns 40,541 shares of the financial services provider’s stock worth $2,088,000 after buying an additional 4,683 shares in the last quarter. New England Asset Management Inc. grew its holdings in U.S. Bancorp by 52.5% during the first quarter. New England Asset Management Inc. now owns 26,571,846 shares of the financial services provider’s stock worth $1,368,451,000 after buying an additional 9,150,126 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its holdings in U.S. Bancorp by 1.1% during the first quarter. TIAA CREF Investment Management LLC now owns 6,968,670 shares of the financial services provider’s stock worth $358,887,000 after buying an additional 73,504 shares in the last quarter. Institutional investors and hedge funds own 73.97% of the company’s stock.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.01. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. U.S. Bancorp’s revenue for the quarter was up .7% on a year-over-year basis.

U.S. Bancorp announced that its board has initiated a stock buyback plan on Wednesday, June 28th that authorizes the company to buyback $2.60 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.24%. The ex-dividend date is Thursday, September 28th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.28. U.S. Bancorp’s payout ratio is currently 33.63%.

Several equities research analysts recently issued reports on USB shares. BidaskClub downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. Jefferies Group LLC reiterated a “buy” rating and set a $59.00 price target on shares of U.S. Bancorp in a report on Friday, June 9th. Argus upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a report on Thursday, July 20th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, July 19th. Finally, Robert W. Baird reiterated a “hold” rating and set a $48.00 price target on shares of U.S. Bancorp in a report on Tuesday, September 5th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. U.S. Bancorp has a consensus rating of “Hold” and a consensus price target of $52.50.

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About U.S. Bancorp

U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.

Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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