Moors & Cabot Inc. Sells 2,609 Shares of U.S. Bancorp (NYSE:USB)

Moors & Cabot Inc. reduced its stake in shares of U.S. Bancorp (NYSE:USB) by 11.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,094 shares of the financial services provider’s stock after selling 2,609 shares during the period. Moors & Cabot Inc.’s holdings in U.S. Bancorp were worth $919,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Redwood Wealth Management Group LLC purchased a new stake in U.S. Bancorp during the second quarter valued at about $25,000. Frazier Financial Advisors LLC boosted its holdings in U.S. Bancorp by 222.7% in the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after buying an additional 441 shares during the period. LRI Investments LLC purchased a new position in U.S. Bancorp in the 1st quarter valued at approximately $31,000. 1620 Investment Advisors Inc. bought a new stake in U.S. Bancorp during the 2nd quarter valued at $30,000. Finally, Y.D. More Investments Ltd purchased a new stake in shares of U.S. Bancorp during the second quarter worth $33,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Transactions at U.S. Bancorp

In other 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 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. The trade was a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of USB stock opened at $51.39 on Friday. The company’s 50-day simple moving average is $47.48 and its two-hundred day simple moving average is $43.96. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a one year low of $36.49 and a one year high of $52.08. The company has a market capitalization of $80.17 billion, a P/E ratio of 15.72, a P/E/G ratio of 2.97 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.05 earnings per share. As a group, equities analysts anticipate that U.S. Bancorp will post 3.93 EPS for the current year.

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

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders 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. This represents a $2.00 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s payout ratio is currently 61.16%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Stephens increased their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective for the company. in a research note on Thursday, October 24th. DA Davidson increased 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. Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a research report on Thursday, October 17th. Finally, Wells Fargo & Company increased their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $51.22.

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.