AMG National Trust Bank Has $4.69 Million Stock Position in U.S. Bancorp (NYSE:USB)

AMG National Trust Bank reduced its position in shares of U.S. Bancorp (NYSE:USB) by 8.5% in the 3rd quarter, Holdings Channel reports. The firm owned 102,581 shares of the financial services provider’s stock after selling 9,523 shares during the period. AMG National Trust Bank’s holdings in U.S. Bancorp were worth $4,691,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC lifted its position in shares of U.S. Bancorp by 723.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock worth $146,864,000 after buying an additional 2,821,642 shares during the last quarter. Marshall Wace LLP increased its holdings in U.S. Bancorp by 1,438.4% in the second quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock worth $89,853,000 after purchasing an additional 2,116,175 shares in the last quarter. National Bank of Canada FI grew its position in shares of U.S. Bancorp by 313.8% during the 2nd quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock worth $105,903,000 after buying an additional 2,046,522 shares during the period. Bridges Investment Management Inc. lifted its position in shares of U.S. Bancorp by 1,554.3% during the 3rd quarter. Bridges Investment Management Inc. now owns 1,503,638 shares of the financial services provider’s stock valued at $68,761,000 after acquiring an additional 1,412,743 shares during the period. Finally, Cambiar Investors LLC acquired a new stake in U.S. Bancorp in the third quarter worth $43,619,000. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Trading Down 0.8 %

Shares of USB opened at $49.90 on Monday. U.S. Bancorp has a fifty-two week low of $36.49 and a fifty-two week high of $51.76. The firm has a market cap of $77.85 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 2.94 and a beta of 1.02. The firm has a 50 day moving average price of $46.99 and a 200-day moving average price of $43.73. 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 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 net margin of 12.92% and a return on equity of 12.91%. 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 previous year, the firm posted $1.05 earnings per share. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, equities research analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp declared that its board has initiated a share buyback program on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 4.01%. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

Insider Buying and Selling

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were 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 in the company, valued at approximately $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on USB shares. Stephens increased their price target 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. Barclays increased their target price on U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Evercore ISI boosted their price target 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. Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $54.00 to $57.00 in a report on Monday, September 30th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a report on Thursday, October 24th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $51.22.

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.