Hengehold Capital Management LLC Trims Position in U.S. Bancorp (NYSE:USB)

Hengehold Capital Management LLC decreased its position in shares of U.S. Bancorp (NYSE:USB) by 42.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 78,160 shares of the financial services provider’s stock after selling 57,244 shares during the quarter. Hengehold Capital Management LLC’s holdings in U.S. Bancorp were worth $3,574,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Brookstone Capital Management boosted its stake in U.S. Bancorp by 2,056.5% in the 1st quarter. Brookstone Capital Management now owns 218,668 shares of the financial services provider’s stock worth $9,774,000 after purchasing an additional 208,528 shares during the period. Manning & Napier Advisors LLC purchased a new position in U.S. Bancorp during the second quarter valued at $20,188,000. Mission Wealth Management LP grew its stake in U.S. Bancorp by 200.7% during the first quarter. Mission Wealth Management LP now owns 18,273 shares of the financial services provider’s stock valued at $817,000 after acquiring an additional 12,197 shares in the last quarter. Janus Henderson Group PLC increased its holdings in U.S. Bancorp by 6.4% in the 1st quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock valued at $12,363,000 after acquiring an additional 16,686 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in U.S. Bancorp by 90.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 862,317 shares of the financial services provider’s stock worth $36,676,000 after purchasing an additional 409,192 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 0.7 %

NYSE:USB opened at $49.53 on Thursday. The company has a market cap of $77.29 billion, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $50.11. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. The stock has a fifty day simple moving average of $44.94 and a 200-day simple moving average of $42.58.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The business had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the prior year, the firm earned $1.05 EPS. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. Analysts anticipate that U.S. Bancorp will post 3.86 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.04%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s dividend payout ratio is currently 66.23%.

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

Wall Street Analysts Forecast Growth

USB has been the subject of a number of research reports. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Evercore ISI raised their target price on shares of U.S. Bancorp from $49.00 to $51.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Jefferies Financial Group decreased their price target on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. cut shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective for the company. in a research note on Thursday, June 27th. Finally, Citigroup boosted their target price on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Twelve research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $49.39.

About U.S. Bancorp

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.