U.S. Bancorp (NYSE:USB) Shares Sold by US Bancorp DE

US Bancorp DE lessened its position in U.S. Bancorp (NYSE:USB) by 2.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,007,565 shares of the financial services provider’s stock after selling 205,424 shares during the period. US Bancorp DE owned about 0.51% of U.S. Bancorp worth $366,186,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of U.S. Bancorp by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider’s stock valued at $6,051,096,000 after acquiring an additional 502,776 shares in the last quarter. Davis Selected Advisers increased its stake in U.S. Bancorp by 0.3% during the second quarter. Davis Selected Advisers now owns 14,228,444 shares of the financial services provider’s stock valued at $564,869,000 after purchasing an additional 43,437 shares during the last quarter. Bank of New York Mellon Corp raised its stake in U.S. Bancorp by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 13,312,930 shares of the financial services provider’s stock worth $528,523,000 after acquiring an additional 94,841 shares during the period. Legal & General Group Plc raised its position in shares of 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 worth $491,364,000 after purchasing an additional 325,374 shares during the period. Finally, Van ECK Associates Corp lifted its stake in U.S. Bancorp by 2.9% in the second quarter. Van ECK Associates Corp now owns 9,478,454 shares of the financial services provider’s stock valued at $376,295,000 after buying an additional 271,078 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on USB. Deutsche Bank Aktiengesellschaft lowered U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a research report on Thursday, October 24th. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a research note on Thursday, October 17th. UBS Group lifted their target price on U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Finally, Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $54.00 to $57.00 in a report on Monday, September 30th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $50.87.

U.S. Bancorp Trading Down 0.4 %

USB stock traded down $0.21 during midday trading on Thursday, hitting $48.47. The stock had a trading volume of 963,083 shares, compared to its average volume of 8,306,766. The business has a fifty day moving average price of $46.10 and a two-hundred day moving average price of $42.97. U.S. Bancorp has a 1-year low of $30.88 and a 1-year high of $50.47. The firm has a market cap of $75.64 billion, a P/E ratio of 14.89, a price-to-earnings-growth ratio of 2.85 and a beta of 1.03. 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 released its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. The company had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. U.S. Bancorp’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.05 EPS. On average, sell-side analysts predict that U.S. Bancorp will post 3.9 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.13%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

U.S. Bancorp announced that its board has initiated a stock repurchase plan on Thursday, September 12th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 129,790 shares of the company’s stock, valued at $6,363,603.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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.