U.S. Bancorp (NYSE:USB) Shares Sold by LS Investment Advisors LLC

LS Investment Advisors LLC decreased its position in U.S. Bancorp (NYSE:USB) by 1.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 64,946 shares of the financial services provider’s stock after selling 850 shares during the period. LS Investment Advisors LLC’s holdings in U.S. Bancorp were worth $2,970,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Redwood Wealth Management Group LLC acquired a new position in U.S. Bancorp during the 2nd quarter valued at approximately $25,000. 1620 Investment Advisors Inc. acquired a new position in U.S. Bancorp during the 2nd quarter valued at approximately $30,000. Eagle Bay Advisors LLC boosted its position in U.S. Bancorp by 93.2% during the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 331 shares during the period. LRI Investments LLC acquired a new position in U.S. Bancorp during the 1st quarter valued at approximately $31,000. Finally, Y.D. More Investments Ltd acquired a new position in U.S. Bancorp during the 2nd quarter valued at approximately $33,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

USB has been the subject of a number of analyst reports. Barclays boosted their price target on U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Oppenheimer boosted their price target on U.S. Bancorp from $59.00 to $64.00 and gave the stock an “outperform” rating in a research report on Tuesday. UBS Group boosted their price target on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Finally, The Goldman Sachs Group reduced their price target 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. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $51.12.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 129,790 shares in the company, valued at $6,363,603.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Down 3.3 %

NYSE:USB opened at $49.56 on Friday. The firm has a market capitalization of $77.34 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 2.79 and a beta of 1.02. U.S. Bancorp has a 1-year low of $33.61 and a 1-year high of $51.76. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The business’s fifty day moving average price is $46.40 and its 200 day moving average price is $43.25.

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, beating the consensus estimate of $0.99 by $0.04. The firm had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. U.S. Bancorp’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.05 earnings per share. On average, sell-side analysts forecast that U.S. Bancorp will post 3.92 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.50 dividend. The ex-dividend date was Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.04%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s payout ratio is 61.16%.

U.S. Bancorp announced that its board has initiated a stock repurchase program on Thursday, September 12th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to buy up to 7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board 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.