Private Trust Co. NA Raises Position in U.S. Bancorp (NYSE:USB)

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 disclosure with the Securities and Exchange Commission. The firm owned 20,849 shares of the financial services provider’s stock after acquiring 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.

Several other hedge funds have also modified their holdings of the stock. Natixis Advisors LLC increased its holdings in U.S. Bancorp by 16.6% during the 3rd quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock worth $18,348,000 after purchasing an additional 56,990 shares during the period. Manning & Napier Advisors LLC purchased a new stake in shares of U.S. Bancorp in the 2nd quarter valued at approximately $20,188,000. Janus Henderson Group PLC lifted its position in shares of U.S. Bancorp by 6.4% during the 1st 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 raised its stake in U.S. Bancorp by 11.2% in the first quarter. Comerica Bank now owns 564,443 shares of the financial services provider’s stock valued at $25,231,000 after buying an additional 56,738 shares in the last quarter. Finally, M&G Plc lifted its holdings in U.S. Bancorp by 73.9% during the 2nd quarter. M&G Plc now owns 314,241 shares of the financial services provider’s stock worth $12,570,000 after buying an additional 133,498 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Stock Up 2.2 %

Shares of NYSE USB opened at $53.63 on Tuesday. The stock has a market capitalization of $83.66 billion, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 3.10 and a beta of 1.02. U.S. Bancorp has a 52 week low of $36.49 and a 52 week high of $53.93. The firm has a 50-day moving average price of $47.81 and a 200 day moving average price of $44.15. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04.

U.S. Bancorp (NYSE:USB) last posted its earnings results 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. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The company had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the previous year, the business earned $1.05 earnings per share. U.S. Bancorp’s quarterly revenue was down 2.4% compared to the same quarter last year. Equities research analysts anticipate that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

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 shares. This repurchase authorization permits the financial services provider to repurchase up to 7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.50 dividend. The ex-dividend date was Monday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.73%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio is presently 61.16%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction 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 transaction, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. This represents a 16.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on USB. Robert W. Baird set a $54.00 target price on U.S. Bancorp in a research report on Thursday, October 17th. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their target price for the company from $49.00 to $65.00 in a report on Monday. Stephens boosted their price target on shares of 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. The Goldman Sachs Group dropped their price objective on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a report on Thursday, October 24th. Twelve equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Hold” and a consensus price target of $52.02.

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.