U.S. Bancorp (NYSE:USB) Position Cut by TCV Trust & Wealth Management Inc.

TCV Trust & Wealth Management Inc. lessened its position in U.S. Bancorp (NYSE:USB) by 1.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 224,489 shares of the financial services provider’s stock after selling 3,202 shares during the period. TCV Trust & Wealth Management Inc.’s holdings in U.S. Bancorp were worth $10,266,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Marshall Wace LLP increased its stake in shares of 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 valued at $89,853,000 after purchasing an additional 2,116,175 shares during the period. National Bank of Canada FI increased its position in U.S. Bancorp by 313.8% in the 2nd quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock valued at $105,903,000 after acquiring an additional 2,046,522 shares during the period. BNP Paribas Financial Markets increased its position in U.S. Bancorp by 88.9% in the 1st quarter. BNP Paribas Financial Markets now owns 2,331,050 shares of the financial services provider’s stock valued at $104,198,000 after acquiring an additional 1,097,179 shares during the period. Clearbridge Investments LLC raised its stake in U.S. Bancorp by 16.2% during the 1st quarter. Clearbridge Investments LLC now owns 6,941,466 shares of the financial services provider’s stock valued at $310,284,000 after acquiring an additional 967,143 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in U.S. Bancorp by 15.6% during the 2nd quarter. American Century Companies Inc. now owns 6,846,497 shares of the financial services provider’s stock worth $271,806,000 after acquiring an additional 925,073 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction 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 completion of the sale, the insider now owns 129,790 shares in the company, valued at $6,363,603.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on USB. DA Davidson raised their price target on U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. UBS Group boosted their price target on shares of U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Stephens increased their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, Citigroup raised their price objective on shares of U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Thirteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp currently has an average rating of “Hold” and an average target price of $50.72.

U.S. Bancorp Trading Down 1.5 %

Shares of NYSE USB opened at $47.74 on Friday. The business has a fifty day simple moving average of $45.81 and a 200-day simple moving average of $42.83. The company has a market cap of $74.50 billion, a price-to-earnings ratio of 15.81, a P/E/G ratio of 2.85 and a beta of 1.03. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $50.47. 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 announced its earnings results 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. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The company had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same period last year, the company posted $1.05 earnings per share. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. Sell-side analysts predict that U.S. Bancorp will post 3.9 EPS for the current year.

U.S. Bancorp announced that its Board of Directors has initiated a stock repurchase program on Thursday, September 12th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

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 given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 4.19%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s payout ratio is presently 66.23%.

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.