U.S. Bancorp (NYSE:USB) Shares Purchased by Private Trust Co. NA

Private Trust Co. NA lifted its stake in shares of U.S. Bancorp (NYSE:USB) by 1.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 20,849 shares of the financial services provider’s stock after purchasing an additional 392 shares during the quarter. Private Trust Co. NA’s holdings in U.S. Bancorp were worth $953,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Redwood Wealth Management Group LLC bought a new stake in shares of U.S. Bancorp during the second quarter valued at approximately $25,000. Frazier Financial Advisors LLC increased its position 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 valued at $29,000 after acquiring an additional 441 shares during the period. 1620 Investment Advisors Inc. bought a new position in shares of U.S. Bancorp in the second quarter worth $30,000. LRI Investments LLC acquired a new position in shares of U.S. Bancorp during the first quarter valued at $31,000. Finally, Y.D. More Investments Ltd bought a new position in U.S. Bancorp in the 2nd quarter valued at about $33,000. 77.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

USB has been the topic of a number of research analyst reports. DA Davidson raised their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research note 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 on the stock. in a research note on Thursday, October 24th. Evercore ISI increased their target price on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Stephens lifted their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Finally, Robert W. Baird set a $54.00 price objective on U.S. Bancorp in a research report on Thursday, October 17th. Twelve research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $52.02.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the sale, the insider now directly owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Up 2.2 %

USB opened at $53.63 on Tuesday. The company has a market capitalization of $83.66 billion, a P/E ratio of 16.40, a P/E/G ratio of 3.10 and a beta of 1.02. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The firm’s fifty day moving average price is $47.81 and its two-hundred day moving average price is $44.15. U.S. Bancorp has a fifty-two week low of $36.49 and a fifty-two week high of $53.93.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.04. The firm 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 company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.05 earnings per share. On average, analysts anticipate that U.S. Bancorp will post 3.93 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 dividend of $0.50 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 61.16%.

U.S. Bancorp announced that its board has approved a stock buyback 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 purchase up to 7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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.