Rossmore Private Capital Lowers Position in U.S. Bancorp (NYSE:USB)

Rossmore Private Capital cut its stake in shares of U.S. Bancorp (NYSE:USB) by 31.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,874 shares of the financial services provider’s stock after selling 2,239 shares during the period. Rossmore Private Capital’s holdings in U.S. Bancorp were worth $223,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Redwood Wealth Management Group LLC purchased a new position in U.S. Bancorp during the second quarter valued at $25,000. LRI Investments LLC bought a new stake in U.S. Bancorp during the first quarter valued at about $31,000. Eagle Bay Advisors LLC raised its holdings in U.S. Bancorp by 93.2% during the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 331 shares during the period. 1620 Investment Advisors Inc. bought a new stake in U.S. Bancorp during the second quarter valued at about $30,000. Finally, Y.D. More Investments Ltd bought a new stake in U.S. Bancorp during the second quarter valued at about $33,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Down 0.5 %

Shares of NYSE:USB opened at $50.80 on Wednesday. U.S. Bancorp has a 1 year low of $33.61 and a 1 year high of $51.76. The business has a 50 day simple moving average of $46.69 and a two-hundred day simple moving average of $43.53. The firm has a market capitalization of $79.25 billion, a PE ratio of 15.54, a price-to-earnings-growth ratio of 3.01 and a beta of 1.02. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $6.90 billion. During the same quarter in the previous year, the business earned $1.05 earnings per share. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, equities analysts predict that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.50 dividend. The ex-dividend date was Monday, September 30th. This represents a $2.00 annualized dividend and a yield of 3.94%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio is 61.16%.

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

Analysts Set New Price Targets

A number of equities research analysts have commented on USB shares. The Goldman Sachs Group decreased their price target 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. Citigroup raised their price target on U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a report on Thursday, October 17th. Robert W. Baird set a $54.00 target price on U.S. Bancorp in a report on Thursday, October 17th. Finally, StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Thirteen equities research 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 company currently has a consensus rating of “Hold” and a consensus target price of $51.12.

Insider Buying and Selling

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 value of $1,225,750.00. Following the transaction, the insider now owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is owned by insiders.

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.