1ST Source Bank Decreases Stock Holdings in U.S. Bancorp (NYSE:USB)

1ST Source Bank trimmed its holdings in shares of U.S. Bancorp (NYSE:USBFree Report) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,813 shares of the financial services provider’s stock after selling 299 shares during the quarter. 1ST Source Bank’s holdings in U.S. Bancorp were worth $1,455,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in USB. Franklin Resources Inc. raised its stake in U.S. Bancorp by 153.0% during the third quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock valued at $374,573,000 after purchasing an additional 4,807,662 shares in the last quarter. Peapack Gladstone Financial Corp increased its holdings in U.S. Bancorp by 0.5% during the third quarter. Peapack Gladstone Financial Corp now owns 250,340 shares of the financial services provider’s stock valued at $11,449,000 after buying an additional 1,188 shares during the period. Synovus Financial Corp boosted its stake in U.S. Bancorp by 12.4% in the third quarter. Synovus Financial Corp now owns 75,156 shares of the financial services provider’s stock valued at $3,437,000 after acquiring an additional 8,272 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its position in U.S. Bancorp by 126.1% during the third quarter. Wilmington Savings Fund Society FSB now owns 44,819 shares of the financial services provider’s stock valued at $2,050,000 after purchasing an additional 24,992 shares during the period. Finally, World Investment Advisors LLC increased its holdings in U.S. Bancorp by 6.0% in the third quarter. World Investment Advisors LLC now owns 52,619 shares of the financial services provider’s stock valued at $2,406,000 after buying an additional 2,988 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on USB shares. Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the company from $49.00 to $65.00 in a research note on Monday, November 25th. Stephens increased their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Evercore ISI increased 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 report on Wednesday, October 30th. Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $54.00 to $57.00 in a research note on Monday, September 30th. Finally, The Goldman Sachs Group dropped 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 report on Wednesday, September 11th. Twelve equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $53.27.

Read Our Latest Stock Analysis on USB

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 shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the sale, the insider now owns 129,790 shares in the company, valued at $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Stock Down 0.4 %

Shares of NYSE USB traded down $0.20 during mid-day trading on Friday, reaching $50.90. The company had a trading volume of 1,043,700 shares, compared to its average volume of 8,198,546. The company has a market capitalization of $79.41 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 3.03 and a beta of 1.03. The stock has a fifty day moving average of $49.67 and a two-hundred day moving average of $45.11. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98.

U.S. Bancorp (NYSE:USBGet Free Report) last issued 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 net margin of 12.92% and a return on equity of 12.91%. The firm had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same quarter last year, the firm earned $1.05 earnings per share. The company’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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 3.93%. U.S. Bancorp’s payout ratio is 61.16%.

U.S. Bancorp declared that its Board of Directors has initiated a share buyback plan on Thursday, September 12th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

About U.S. Bancorp

(Free Report)

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.

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

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