U.S. Bancorp (NYSE:USB) Shares Sold by Pitcairn Co.

Pitcairn Co. cut its stake in U.S. Bancorp (NYSE:USB) by 11.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,231 shares of the financial services provider’s stock after selling 5,821 shares during the period. Pitcairn Co.’s holdings in U.S. Bancorp were worth $2,068,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Redwood Wealth Management Group LLC acquired a new position in shares of U.S. Bancorp during the second quarter worth about $25,000. Frazier Financial Advisors LLC lifted its stake in U.S. Bancorp by 222.7% in the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 441 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in U.S. Bancorp during the 2nd quarter worth approximately $30,000. LRI Investments LLC purchased a new stake in shares of U.S. Bancorp in the 1st quarter valued at approximately $31,000. Finally, Y.D. More Investments Ltd acquired a new stake in shares of U.S. Bancorp in the 2nd quarter valued at $33,000. 77.60% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on USB shares. Deutsche Bank Aktiengesellschaft lowered U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a report on Thursday, October 24th. The Goldman Sachs Group dropped their price objective 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. Wells Fargo & Company boosted their target price on U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $54.00 to $57.00 in a report on Monday, September 30th. Finally, Robert W. Baird set a $54.00 target price on shares of U.S. Bancorp in a research report on Thursday, October 17th. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Hold” and a consensus target price of $51.22.

U.S. Bancorp Stock Up 2.1 %

Shares of U.S. Bancorp stock opened at $52.49 on Friday. The company has a market cap of $81.89 billion, a P/E ratio of 16.05, a PEG ratio of 3.03 and a beta of 1.02. The firm has a fifty day moving average of $47.63 and a two-hundred day moving average of $44.05. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a one year low of $36.49 and a one year high of $52.69.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.04. The company had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.05 EPS. On average, analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current 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 given a dividend of $0.50 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s payout ratio is presently 61.16%.

U.S. Bancorp declared that its Board of Directors has authorized a share repurchase plan on Thursday, September 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the 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 completion of the transaction, the insider now directly owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.23% of the company’s stock.

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.