King Luther Capital Management Corp Sells 33,906 Shares of U.S. Bancorp (NYSE:USB)

King Luther Capital Management Corp lowered its holdings in shares of U.S. Bancorp (NYSE:USB) by 7.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 421,724 shares of the financial services provider’s stock after selling 33,906 shares during the period. King Luther Capital Management Corp’s holdings in U.S. Bancorp were worth $19,285,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of USB. Natixis Advisors LLC boosted its holdings in U.S. Bancorp by 16.6% in the third quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock worth $18,348,000 after acquiring an additional 56,990 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in U.S. Bancorp during the second quarter valued at $20,188,000. Janus Henderson Group PLC increased its position in shares of U.S. Bancorp by 6.4% in the first quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock worth $12,363,000 after purchasing an additional 16,686 shares during the last quarter. Comerica Bank increased its holdings in shares of U.S. Bancorp by 11.2% in the 1st quarter. Comerica Bank now owns 564,443 shares of the financial services provider’s stock worth $25,231,000 after buying an additional 56,738 shares during the last quarter. Finally, M&G Plc raised its position in U.S. Bancorp by 73.9% during the second quarter. M&G Plc now owns 314,241 shares of the financial services provider’s stock valued at $12,570,000 after purchasing an additional 133,498 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on USB shares. Barclays increased their target price on shares of U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a report 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 report on Thursday, October 17th. Evercore ISI increased their price objective on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Oppenheimer lifted their target price on shares of U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, Stephens upped their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $51.22.

Insider Buying and Selling at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

NYSE USB opened at $51.39 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. The business’s fifty day moving average is $47.48 and its 200 day moving average is $43.96. The company has a market capitalization of $80.17 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 2.97 and a beta of 1.02. U.S. Bancorp has a fifty-two week low of $36.49 and a fifty-two week high of $52.08.

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 for the quarter, topping the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The business had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the prior year, the company posted $1.05 EPS. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. Sell-side analysts predict that U.S. Bancorp will post 3.93 earnings per share for the current 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 paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.89%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

U.S. Bancorp declared that its Board of Directors has initiated a stock buyback plan on Thursday, September 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is 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.