Linscomb Wealth Inc. Trims Stock Holdings in U.S. Bancorp (NYSE:USB)

Linscomb Wealth Inc. lowered its position in shares of U.S. Bancorp (NYSE:USB) by 33.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 5,269 shares of the financial services provider’s stock after selling 2,639 shares during the quarter. Linscomb Wealth Inc.’s holdings in U.S. Bancorp were worth $241,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Redwood Wealth Management Group LLC purchased a new position in shares of U.S. Bancorp during the second quarter worth $25,000. LRI Investments LLC acquired a new stake in U.S. Bancorp during the 1st quarter worth about $31,000. 1620 Investment Advisors Inc. purchased a new position in shares of U.S. Bancorp during the 2nd quarter valued at about $30,000. Y.D. More Investments Ltd purchased a new stake in shares of U.S. Bancorp in the second quarter worth about $33,000. Finally, Crewe Advisors LLC acquired a new stake in U.S. Bancorp during the first quarter worth about $39,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

USB has been the subject of a number of analyst reports. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $54.00 to $57.00 in a report on Monday, September 30th. Oppenheimer increased their price target on shares of U.S. Bancorp from $59.00 to $64.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a report on Thursday, October 17th. Robert W. Baird set a $54.00 target price on shares of U.S. Bancorp in a research note on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft cut U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a research report on Thursday, October 24th. Thirteen equities research 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.com, the company has a consensus rating of “Hold” and a consensus target price of $51.22.

Insiders Place Their Bets

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 directly owns 129,790 shares in the company, valued at $6,363,603.70. The trade was a 16.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

USB opened at $49.90 on Friday. The firm has a market capitalization of $77.85 billion, a PE ratio of 15.26, a PEG ratio of 3.02 and a beta of 1.02. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a twelve month low of $36.49 and a twelve month high of $51.76. The firm’s 50-day moving average price is $46.99 and its 200 day moving average price is $43.69.

U.S. Bancorp (NYSE:USB) last issued its 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 for the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the previous year, the firm posted $1.05 EPS. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, sell-side analysts expect that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.50 dividend. 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%. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s dividend payout ratio is presently 61.16%.

U.S. Bancorp declared that its board has approved a share repurchase plan 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 plans are usually a sign that the company’s board believes its stock is undervalued.

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.