Financial Counselors Inc. Sells 840 Shares of U.S. Bancorp (NYSE:USB)

Financial Counselors Inc. reduced its position in shares of U.S. Bancorp (NYSE:USB) by 0.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 401,222 shares of the financial services provider’s stock after selling 840 shares during the quarter. Financial Counselors Inc.’s holdings in U.S. Bancorp were worth $18,348,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in USB. Redwood Wealth Management Group LLC purchased a new position in shares of U.S. Bancorp in the second quarter worth approximately $25,000. Frazier Financial Advisors LLC raised its position in U.S. Bancorp by 222.7% in the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 441 shares during the period. 1620 Investment Advisors Inc. purchased a new position in shares of U.S. Bancorp during the 2nd quarter worth $30,000. LRI Investments LLC bought a new stake in shares of U.S. Bancorp during the 1st quarter valued at $31,000. Finally, Y.D. More Investments Ltd purchased a new stake in shares of U.S. Bancorp in the 2nd quarter worth $33,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on USB shares. Stephens lifted their target price on 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 lifted their price objective on 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. Barclays boosted their price objective on U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. DA Davidson raised their target price on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Finally, Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Twelve research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, U.S. Bancorp presently has a consensus rating of “Hold” and an average price target of $52.02.

U.S. Bancorp Trading Down 0.3 %

USB stock opened at $53.48 on Thursday. The firm has a fifty day moving average price of $48.16 and a 200 day moving average price of $44.30. U.S. Bancorp has a fifty-two week low of $36.49 and a fifty-two week high of $53.98. The firm has a market cap of $83.43 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 3.16 and a beta of 1.02. 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 (NYSE:USB) last issued its quarterly earnings data 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. The business had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the company posted $1.05 EPS. Sell-side analysts anticipate that U.S. Bancorp will post 3.93 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. Shareholders of record on Monday, September 30th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a yield of 3.74%. U.S. Bancorp’s dividend payout ratio is 61.16%.

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

Insider Activity

In related news, insider Jodi L. Richard sold 25,000 shares of the 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 sale, the insider now owns 129,790 shares in the company, valued at approximately $6,363,603.70. This represents a 16.15 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

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.