U.S. Bancorp (NYSE:USB) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC decreased its position in shares of U.S. Bancorp (NYSE:USB) by 8.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,857 shares of the financial services provider’s stock after selling 873 shares during the quarter. Summit Trail Advisors LLC’s holdings in U.S. Bancorp were worth $456,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Los Angeles Capital Management LLC lifted its holdings in shares of U.S. Bancorp by 723.7% in the third quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock valued at $146,864,000 after purchasing an additional 2,821,642 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of U.S. Bancorp by 1,438.4% in the 2nd quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock valued at $89,853,000 after purchasing an additional 2,116,175 shares during the last quarter. National Bank of Canada FI boosted its holdings in 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 acquiring an additional 2,046,522 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of U.S. Bancorp by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock worth $2,164,350,000 after purchasing an additional 1,796,336 shares during the period. Finally, Bridges Investment Management Inc. grew its stake in U.S. Bancorp by 1,554.3% during the third quarter. Bridges Investment Management Inc. now owns 1,503,638 shares of the financial services provider’s stock worth $68,761,000 after buying an additional 1,412,743 shares during the period. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction on Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the sale, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE:USB opened at $53.66 on Wednesday. The company has a 50-day moving average of $47.99 and a 200-day moving average of $44.23. The firm has a market cap of $83.71 billion, a price-to-earnings ratio of 16.41, a price-to-earnings-growth ratio of 3.10 and a beta of 1.02. 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 $36.49 and a twelve month high of $53.93.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) 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 business had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the previous year, the firm posted $1.05 EPS. The company’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 declared that its board has authorized a share repurchase plan on Thursday, September 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

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 dividend of $0.50 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 3.73%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s payout ratio is 61.16%.

Wall Street Analysts Forecast Growth

USB has been the subject of several analyst reports. The Goldman Sachs Group decreased their target price 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. Oppenheimer raised their price objective on shares of U.S. Bancorp from $59.00 to $64.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Deutsche Bank Aktiengesellschaft downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective for the company. in a research report on Thursday, October 24th. Finally, Robert W. Baird set a $54.00 price objective on U.S. Bancorp in a research note on Thursday, October 17th. Twelve research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Hold” and a consensus target price of $52.02.

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.