U.S. Bancorp (NYSE:USB) Shares Sold by Buck Wealth Strategies LLC

Buck Wealth Strategies LLC lowered its position in U.S. Bancorp (NYSE:USB) by 36.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,179 shares of the financial services provider’s stock after selling 4,769 shares during the period. Buck Wealth Strategies LLC’s holdings in U.S. Bancorp were worth $374,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of U.S. Bancorp by 0.4% in the first quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider’s stock worth $6,051,096,000 after acquiring an additional 502,776 shares during the period. Davis Selected Advisers increased its stake in shares of U.S. Bancorp by 0.3% during the second quarter. Davis Selected Advisers now owns 14,228,444 shares of the financial services provider’s stock worth $564,869,000 after purchasing an additional 43,437 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of U.S. Bancorp by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 13,312,930 shares of the financial services provider’s stock worth $528,523,000 after purchasing an additional 94,841 shares in the last quarter. Legal & General Group Plc increased its stake in shares of U.S. Bancorp by 2.7% during the second quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock worth $491,364,000 after purchasing an additional 325,374 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of U.S. Bancorp by 3.9% during the third quarter. Van ECK Associates Corp now owns 9,852,013 shares of the financial services provider’s stock worth $478,118,000 after purchasing an additional 373,559 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on USB. The Goldman Sachs Group cut their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Stephens upped 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 research note on Thursday, October 17th. Citigroup upped 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. Robert W. Baird set a $54.00 price objective on shares of U.S. Bancorp in a research note on Thursday, October 17th. Finally, Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $54.00 to $57.00 in a research note on Monday, September 30th. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $51.12.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the transaction, 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 legal filing with the SEC, which is accessible through this link. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Stock Down 0.5 %

Shares of NYSE USB opened at $50.80 on Wednesday. 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 has a 52 week low of $33.61 and a 52 week high of $51.76. The firm has a 50-day moving average price of $46.60 and a 200 day moving average price of $43.46. The stock has a market capitalization of $79.25 billion, a price-to-earnings ratio of 15.54, a price-to-earnings-growth ratio of 3.01 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last announced 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 firm had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter last year, the business earned $1.05 earnings per share. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. Equities research analysts anticipate that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.00 dividend on an annualized basis 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 payout ratio is presently 61.16%.

U.S. Bancorp announced that its Board of Directors has approved a share repurchase program on Thursday, September 12th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.