Arrow Financial Corp Decreases Stock Position in U.S. Bancorp (NYSE:USB)

Arrow Financial Corp trimmed its holdings in shares of U.S. Bancorp (NYSE:USB) by 9.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,515 shares of the financial services provider’s stock after selling 463 shares during the quarter. Arrow Financial Corp’s holdings in U.S. Bancorp were worth $206,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Redwood Wealth Management Group LLC purchased a new position in shares of U.S. Bancorp during the second quarter valued at approximately $25,000. LRI Investments LLC bought a new position in shares of U.S. Bancorp during the 1st quarter valued at $31,000. Eagle Bay Advisors LLC lifted its holdings in shares of U.S. Bancorp by 93.2% during the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after buying an additional 331 shares during the period. 1620 Investment Advisors Inc. purchased a new position in shares of U.S. Bancorp in the 2nd quarter worth $30,000. Finally, Y.D. More Investments Ltd bought a new stake in shares of U.S. Bancorp in the second quarter worth $33,000. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

USB stock opened at $50.21 on Monday. The company has a market capitalization of $78.33 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 3.02 and a beta of 1.02. The company’s fifty day moving average price is $46.52 and its 200-day moving average price is $43.37. U.S. Bancorp has a one year low of $33.61 and a one year high of $51.76. 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 released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating 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 quarter in the prior year, the firm earned $1.05 EPS. The business’s revenue was down 2.4% on a year-over-year basis. On average, equities analysts anticipate that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.50 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 3.98%. U.S. Bancorp’s payout ratio is presently 61.16%.

U.S. Bancorp announced that its board has authorized a share repurchase program on Thursday, September 12th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages have issued reports on USB. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. DA Davidson raised their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $54.00 to $57.00 in a report on Monday, September 30th. Royal Bank of Canada set a $53.00 price target on shares of U.S. Bancorp in a research note on Thursday, October 17th. Finally, Wells Fargo & Company upped their price objective on U.S. Bancorp from $52.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Hold” and an average price target of $51.12.

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction on 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 sale, the insider now owns 129,790 shares in the company, valued at approximately $6,363,603.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.23% of the company’s stock.

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.