U.S. Bancorp (NYSE:USB) Shares Sold by Sky Investment Group LLC

Sky Investment Group LLC lowered its position in shares of U.S. Bancorp (NYSE:USB) by 12.5% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,171 shares of the financial services provider’s stock after selling 4,870 shares during the quarter. Sky Investment Group LLC’s holdings in U.S. Bancorp were worth $1,563,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in USB. Banque Cantonale Vaudoise boosted its holdings in shares of U.S. Bancorp by 49.0% in the 1st quarter. Banque Cantonale Vaudoise now owns 6,034 shares of the financial services provider’s stock valued at $270,000 after buying an additional 1,983 shares during the period. &PARTNERS bought a new position in shares of U.S. Bancorp during the first quarter valued at approximately $281,000. Global Assets Advisory LLC bought a new position in shares of U.S. Bancorp during the first quarter valued at approximately $1,340,000. Austin Private Wealth LLC raised its position in shares of U.S. Bancorp by 20.4% during the 1st quarter. Austin Private Wealth LLC now owns 5,594 shares of the financial services provider’s stock worth $241,000 after purchasing an additional 947 shares during the period. Finally, Annex Advisory Services LLC lifted its holdings in shares of U.S. Bancorp by 2.2% in the 1st quarter. Annex Advisory Services LLC now owns 18,424 shares of the financial services provider’s stock worth $824,000 after purchasing an additional 405 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insider Transactions at U.S. Bancorp

In related 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 owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Price Performance

Shares of NYSE:USB traded down $0.22 on Tuesday, reaching $47.70. 1,095,206 shares of the company traded hands, compared to its average volume of 8,347,604. The stock has a market capitalization of $74.43 billion, a PE ratio of 15.87, a P/E/G ratio of 3.32 and a beta of 1.03. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. The company’s 50 day moving average is $45.37 and its 200-day moving average is $42.69. U.S. Bancorp has a fifty-two week low of $30.47 and a fifty-two week high of $50.47.

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

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

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 4.19%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 66.23%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Jefferies Financial Group decreased their target price on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Barclays raised their target price 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. Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Stephens raised their price target on U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, Robert W. Baird set a $54.00 price objective on shares of U.S. Bancorp in a research note on Thursday, October 17th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $50.71.

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.