U.S. Bancorp (NYSE:USB) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. lessened its holdings in U.S. Bancorp (NYSE:USB) by 11.5% during the third quarter, Holdings Channel.com reports. The firm owned 20,094 shares of the financial services provider’s stock after selling 2,609 shares during the quarter. Moors & Cabot Inc.’s holdings in U.S. Bancorp were worth $919,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in USB. Redwood Wealth Management Group LLC acquired a new position in U.S. Bancorp during the second quarter worth about $25,000. Frazier Financial Advisors LLC raised its holdings in U.S. Bancorp by 222.7% in the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after buying an additional 441 shares during the period. LRI Investments LLC purchased a new stake in shares of U.S. Bancorp in the first quarter worth about $31,000. 1620 Investment Advisors Inc. acquired a new stake in U.S. Bancorp during the 2nd quarter valued at $30,000. Finally, Y.D. More Investments Ltd purchased a new stake in U.S. Bancorp during the 2nd quarter worth approximately $33,000. 77.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on USB shares. DA Davidson increased their target price on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird set a $54.00 target price on U.S. Bancorp in a research report on Thursday, October 17th. Wells Fargo & Company lifted their target price on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. The Goldman Sachs Group decreased their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Finally, Royal Bank of Canada set a $53.00 price objective on U.S. Bancorp in a research note on Thursday, October 17th. Thirteen investment 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.com, the stock has an average rating of “Hold” and an average price target of $51.22.

U.S. Bancorp Trading Up 1.3 %

USB stock opened at $51.39 on Friday. The business has a fifty day moving average of $47.48 and a 200-day moving average of $43.96. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The company has a market cap of $80.17 billion, a P/E ratio of 15.72, a PEG ratio of 2.97 and a beta of 1.02. U.S. Bancorp has a twelve month low of $36.49 and a twelve month high of $52.08.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter in the previous year, the business posted $1.05 EPS. U.S. Bancorp’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, equities research analysts expect that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm 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 3.89%. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio is 61.16%.

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

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction on 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 directly owns 129,790 shares of the company’s stock, valued at $6,363,603.70. The trade was a 16.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.23% of the company’s stock.

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.