U.S. Bancorp (NYSE:USB) Shares Sold by Citizens Business Bank

Citizens Business Bank lessened its position in U.S. Bancorp (NYSE:USB) by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,864 shares of the financial services provider’s stock after selling 406 shares during the period. Citizens Business Bank’s holdings in U.S. Bancorp were worth $1,000,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of USB. Lantz Financial LLC grew its position in shares of U.S. Bancorp by 4.7% in the second quarter. Lantz Financial LLC now owns 48,116 shares of the financial services provider’s stock valued at $1,910,000 after purchasing an additional 2,179 shares during the period. Diversified Trust Co purchased a new stake in U.S. Bancorp in the 2nd quarter valued at about $735,000. Cornerstone Wealth Management LLC grew its holdings in U.S. Bancorp by 12.6% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 42,570 shares of the financial services provider’s stock valued at $1,690,000 after buying an additional 4,780 shares during the period. AdvisorNet Financial Inc increased its stake in shares of U.S. Bancorp by 6.0% during the 2nd quarter. AdvisorNet Financial Inc now owns 10,630 shares of the financial services provider’s stock valued at $422,000 after acquiring an additional 602 shares during the last quarter. Finally, Corundum Group Inc. lifted its holdings in shares of U.S. Bancorp by 33.6% during the 2nd quarter. Corundum Group Inc. now owns 35,022 shares of the financial services provider’s stock worth $1,390,000 after acquiring an additional 8,808 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 129,790 shares in the company, valued at $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on USB. Evercore ISI boosted their target price on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a research note on Thursday, October 17th. The Goldman Sachs Group cut their target price on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Compass Point boosted their price target on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, Barclays raised their price objective on U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Twelve analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $53.27.

U.S. Bancorp Stock Up 0.5 %

Shares of U.S. Bancorp stock opened at $51.57 on Wednesday. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98. The company has a market capitalization of $80.45 billion, a PE ratio of 15.77, a P/E/G ratio of 3.08 and a beta of 1.03. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The business has a 50-day moving average of $49.24 and a 200-day moving average of $44.95.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data 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 the consensus estimate 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 revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.05 EPS. As a group, equities analysts forecast that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

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

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.88%. U.S. Bancorp’s dividend payout ratio is presently 61.16%.

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.