Great Valley Advisor Group Inc. Has $2.89 Million Stake in U.S. Bancorp (NYSE:USB)

Great Valley Advisor Group Inc. cut its stake in shares of U.S. Bancorp (NYSE:USB) by 44.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,191 shares of the financial services provider’s stock after selling 51,334 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in U.S. Bancorp were worth $2,890,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Meridian Wealth Management LLC acquired a new position in U.S. Bancorp during the 3rd quarter worth about $443,000. Nwam LLC acquired a new position in U.S. Bancorp during the 3rd quarter worth about $5,471,000. Raymond James Trust N.A. lifted its holdings in U.S. Bancorp by 2.8% during the 3rd quarter. Raymond James Trust N.A. now owns 96,656 shares of the financial services provider’s stock worth $4,420,000 after buying an additional 2,601 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in U.S. Bancorp by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock worth $2,164,350,000 after buying an additional 1,796,336 shares during the period. Finally, RW Investment Management LLC lifted its holdings in U.S. Bancorp by 1.8% during the 3rd quarter. RW Investment Management LLC now owns 49,350 shares of the financial services provider’s stock worth $2,257,000 after buying an additional 895 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity 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 transaction of $1,225,750.00. Following the completion of the sale, the insider now directly owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $52.49 on Monday. The company has a market cap of $81.89 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 3.03 and a beta of 1.02. U.S. Bancorp has a 52 week low of $36.49 and a 52 week high of $52.69. The business has a 50 day moving average price of $47.63 and a 200-day moving average price of $44.06. 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 issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 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 the consensus estimate of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.05 earnings per share. Equities analysts anticipate that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp declared that its board has approved 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 a sign that the company’s board of directors believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.81%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

Analysts Set New Price Targets

Several brokerages have commented on USB. Robert W. Baird set a $54.00 target price on U.S. Bancorp in a report on Thursday, October 17th. Evercore ISI upped their target price on U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. DA Davidson upped their target price on U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Morgan Stanley upgraded 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 research report on Monday, September 30th. Finally, Oppenheimer upped their target price on U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $51.22.

About U.S. Bancorp

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.