iSAM Funds UK Ltd Sells 10,473 Shares of U.S. Bancorp (NYSE:USB)

iSAM Funds UK Ltd lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 54.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,877 shares of the financial services provider’s stock after selling 10,473 shares during the quarter. iSAM Funds UK Ltd’s holdings in U.S. Bancorp were worth $406,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Natixis Advisors LLC grew its position in U.S. Bancorp by 16.6% during the third quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock valued at $18,348,000 after acquiring an additional 56,990 shares during the last quarter. Hilltop Holdings Inc. boosted its stake in shares of U.S. Bancorp by 184.3% in the 3rd quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider’s stock valued at $3,214,000 after purchasing an additional 45,560 shares in the last quarter. M&G Plc grew its holdings in shares of U.S. Bancorp by 73.9% during the 2nd quarter. M&G Plc now owns 314,241 shares of the financial services provider’s stock valued at $12,570,000 after purchasing an additional 133,498 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its position in U.S. Bancorp by 544.1% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,894 shares of the financial services provider’s stock worth $635,000 after purchasing an additional 11,737 shares during the period. Finally, Summit Financial Wealth Advisors LLC bought a new stake in U.S. Bancorp in the third quarter worth $4,505,000. 77.60% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Stephens raised their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Barclays raised 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. Royal Bank of Canada set a $53.00 price objective on U.S. Bancorp in a research report on Thursday, October 17th. Oppenheimer raised their target price 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. Finally, DA Davidson upped their price target on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Twelve analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $52.72.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the firm’s 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 transaction, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Up 0.1 %

NYSE USB opened at $52.18 on Friday. The firm has a market capitalization of $81.40 billion, a PE ratio of 15.96, a P/E/G ratio of 3.07 and a beta of 1.03. The stock’s 50 day moving average is $49.13 and its 200 day moving average is $44.84. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.99 by $0.04. The business had revenue of $6.86 billion during 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%. The company’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.05 earnings per share. Research analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date was Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio is 61.16%.

U.S. Bancorp announced that its board has approved a stock repurchase program on Thursday, September 12th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

U.S. Bancorp Company 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.