US Bancorp DE Sells 205,424 Shares of U.S. Bancorp (NYSE:USB)

US Bancorp DE decreased its holdings in U.S. Bancorp (NYSE:USB) by 2.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 8,007,565 shares of the financial services provider’s stock after selling 205,424 shares during the quarter. US Bancorp DE’s holdings in U.S. Bancorp were worth $366,186,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in USB. Vanguard Group Inc. raised its stake in shares of U.S. Bancorp by 0.4% in the first quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider’s stock worth $6,051,096,000 after purchasing an additional 502,776 shares during the last quarter. Davis Selected Advisers raised its position in U.S. Bancorp by 0.3% in the 2nd quarter. Davis Selected Advisers now owns 14,228,444 shares of the financial services provider’s stock valued at $564,869,000 after buying an additional 43,437 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in 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 valued at $528,523,000 after acquiring an additional 94,841 shares in the last quarter. Legal & General Group Plc lifted its stake in 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 valued at $491,364,000 after acquiring an additional 325,374 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in 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 during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on USB shares. StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Evercore ISI increased 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. Royal Bank of Canada set a $53.00 target price on shares of U.S. Bancorp in a research report on Thursday, October 17th. Wells Fargo & Company upped their target price on U.S. Bancorp from $52.00 to $60.00 and gave the company an “overweight” rating in a 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 research report on Thursday, October 17th. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $50.87.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The shares were 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 directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of NYSE USB traded down $0.21 during midday trading on Thursday, hitting $48.47. The company’s stock had a trading volume of 963,083 shares, compared to its average volume of 8,306,766. The stock has a fifty day moving average price of $46.10 and a 200 day moving average price of $42.97. The firm has a market capitalization of $75.64 billion, a price-to-earnings ratio of 14.89, a P/E/G ratio of 2.85 and a beta of 1.03. U.S. Bancorp has a one year low of $30.88 and a one year high of $50.47. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.04. The firm had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.05 earnings per share. On average, research analysts forecast that U.S. Bancorp will post 3.9 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.00 annualized dividend and a yield of 4.13%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio (DPR) is currently 61.16%.

U.S. Bancorp announced that its Board of Directors has initiated a share buyback program on Thursday, September 12th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 7% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

U.S. Bancorp 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.