U.S. Bancorp (NYSE:USB) Shares Sold by Entropy Technologies LP

Entropy Technologies LP lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 6.5% in the third quarter, Holdings Channel reports. The institutional investor owned 175,132 shares of the financial services provider’s stock after selling 12,134 shares during the quarter. U.S. Bancorp accounts for approximately 0.8% of Entropy Technologies LP’s portfolio, making the stock its 8th biggest position. Entropy Technologies LP’s holdings in U.S. Bancorp were worth $8,009,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in USB. Manning & Napier Advisors LLC acquired a new position in U.S. Bancorp in the second quarter worth $20,188,000. Janus Henderson Group PLC boosted its holdings in U.S. Bancorp by 6.4% in the first quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock worth $12,363,000 after purchasing an additional 16,686 shares during the period. Koshinski Asset Management Inc. acquired a new position in U.S. Bancorp in the first quarter worth $732,000. Comerica Bank boosted its holdings in U.S. Bancorp by 11.2% in the first quarter. Comerica Bank now owns 564,443 shares of the financial services provider’s stock worth $25,231,000 after purchasing an additional 56,738 shares during the period. Finally, M&G Plc lifted its stake in U.S. Bancorp by 73.9% in the second quarter. M&G Plc now owns 314,241 shares of the financial services provider’s stock valued at $12,570,000 after buying an additional 133,498 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE:USB opened at $51.04 on Tuesday. 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 $33.61 and a twelve month high of $51.76. The firm has a market cap of $79.62 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 2.96 and a beta of 1.02. The company has a 50-day moving average of $46.52 and a 200-day moving average of $43.39.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $6.90 billion. During the same period in the prior year, the firm earned $1.05 earnings per share. The business’s quarterly revenue was down 2.4% on a year-over-year basis. Analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.92%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s dividend payout ratio is 61.16%.

U.S. Bancorp announced that its board has initiated a share repurchase 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 typically a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. 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 note on Thursday, October 24th. DA Davidson raised their target price on U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Oppenheimer raised their target price on U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. StockNews.com upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, Evercore ISI raised their target price on U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, U.S. Bancorp currently has an average rating of “Hold” and a consensus target price of $51.12.

Insider Transactions at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.23% of the stock is owned by insiders.

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.