Vestor Capital LLC Cuts Stake in U.S. Bancorp (NYSE:USB)

Vestor Capital LLC cut its holdings in U.S. Bancorp (NYSE:USB) by 2.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,136 shares of the financial services provider’s stock after selling 462 shares during the period. Vestor Capital LLC’s holdings in U.S. Bancorp were worth $784,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Redwood Wealth Management Group LLC purchased a new position in shares of U.S. Bancorp in the second quarter worth $25,000. 1620 Investment Advisors Inc. purchased a new stake in U.S. Bancorp in the 2nd quarter worth $30,000. Eagle Bay Advisors LLC boosted its holdings in shares of U.S. Bancorp by 93.2% during the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 331 shares during the last quarter. LRI Investments LLC purchased a new position in shares of U.S. Bancorp during the first quarter valued at about $31,000. Finally, Y.D. More Investments Ltd bought a new stake in shares of U.S. Bancorp in the second quarter worth about $33,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Up 0.2 %

NYSE:USB opened at $47.95 on Monday. The company has a market cap of $74.83 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 2.86 and a beta of 1.02. U.S. Bancorp has a twelve month low of $33.61 and a twelve month high of $50.47. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The stock has a fifty day simple moving average of $46.23 and a 200-day simple moving average of $43.09.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. The company had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the business posted $1.05 EPS. Analysts anticipate that U.S. Bancorp will post 3.92 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.50 dividend. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.17%. U.S. Bancorp’s payout ratio is presently 61.16%.

U.S. Bancorp announced that its board has authorized a stock repurchase plan on Thursday, September 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of equities analysts recently commented on USB shares. Oppenheimer raised their price target on U.S. Bancorp from $57.00 to $59.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a research report on Thursday, October 17th. UBS Group lifted their price objective on shares of U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Finally, DA Davidson upped their target price on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Thirteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, U.S. Bancorp currently has an average rating of “Hold” and an average price target of $50.87.

Insider Buying and Selling

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 transaction 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 document filed with the SEC, which is available at this hyperlink. 0.23% of the stock is owned by insiders.

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.