U.S. Bancorp (NYSE:USB) Stock Position Cut by HM Payson & Co.

HM Payson & Co. trimmed its stake in shares of U.S. Bancorp (NYSE:USB) by 16.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,174 shares of the financial services provider’s stock after selling 640 shares during the quarter. HM Payson & Co.’s holdings in U.S. Bancorp were worth $145,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Marshall Wace LLP raised its holdings in U.S. Bancorp by 1,438.4% during the second quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock worth $89,853,000 after purchasing an additional 2,116,175 shares in the last quarter. National Bank of Canada FI lifted its holdings in shares of U.S. Bancorp by 313.8% in the second 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 buying an additional 2,046,522 shares during the period. BNP Paribas Financial Markets boosted its stake in U.S. Bancorp by 88.9% during the first quarter. BNP Paribas Financial Markets now owns 2,331,050 shares of the financial services provider’s stock valued at $104,198,000 after buying an additional 1,097,179 shares in the last quarter. Clearbridge Investments LLC grew its holdings in U.S. Bancorp by 16.2% during the first quarter. Clearbridge Investments LLC now owns 6,941,466 shares of the financial services provider’s stock worth $310,284,000 after acquiring an additional 967,143 shares during the period. Finally, American Century Companies Inc. raised its position in U.S. Bancorp by 15.6% in the second 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 in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $47.84 on Friday. The business has a fifty day simple moving average of $46.23 and a 200 day simple moving average of $43.05. 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 1 year low of $32.39 and a 1 year high of $50.47. The firm has a market cap of $74.65 billion, a price-to-earnings ratio of 14.63, a P/E/G ratio of 2.88 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same period last year, the business earned $1.05 EPS. The business’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, sell-side analysts predict that U.S. Bancorp will post 3.92 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.50 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.18%. U.S. Bancorp’s dividend payout ratio is 61.16%.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $54.00 to $57.00 in a research report on Monday, September 30th. Stephens lifted their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group cut their price objective on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. UBS Group lifted their target price on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Finally, Evercore ISI upped their target price on U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a report on Wednesday. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $50.87.

Insider Activity

In related news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction 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 in the company, valued at approximately $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 SEC, which is accessible 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.