Coastline Trust Co Decreases Stake in U.S. Bancorp (NYSE:USB)

Coastline Trust Co reduced its stake in shares of U.S. Bancorp (NYSE:USB) by 8.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 75,041 shares of the financial services provider’s stock after selling 7,054 shares during the period. Coastline Trust Co’s holdings in U.S. Bancorp were worth $4,153,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brookmont Capital Management raised its stake in shares of U.S. Bancorp by 0.5% during the 2nd quarter. Brookmont Capital Management now owns 36,674 shares of the financial services provider’s stock worth $1,922,000 after buying an additional 195 shares during the last quarter. Plancorp LLC raised its stake in shares of U.S. Bancorp by 0.4% during the 2nd quarter. Plancorp LLC now owns 48,413 shares of the financial services provider’s stock worth $2,537,000 after buying an additional 195 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its stake in shares of U.S. Bancorp by 1.0% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 20,911 shares of the financial services provider’s stock worth $1,157,000 after buying an additional 199 shares during the last quarter. Sky Investment Group LLC raised its stake in shares of U.S. Bancorp by 1.8% during the 2nd quarter. Sky Investment Group LLC now owns 11,250 shares of the financial services provider’s stock worth $590,000 after buying an additional 200 shares during the last quarter. Finally, Culbertson A N & Co. Inc. raised its stake in shares of U.S. Bancorp by 0.5% during the 2nd quarter. Culbertson A N & Co. Inc. now owns 42,696 shares of the financial services provider’s stock worth $2,237,000 after buying an additional 200 shares during the last quarter. Institutional investors own 75.50% of the company’s stock.

In other news, Director David B. Omaley sold 10,133 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $55.76, for a total transaction of $565,016.08. Following the completion of the transaction, the director now owns 191,754 shares of the company’s stock, valued at approximately $10,692,203.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Gillern Jeffry H. Von sold 9,428 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $55.25, for a total transaction of $520,897.00. Following the transaction, the insider now directly owns 94,658 shares of the company’s stock, valued at approximately $5,229,854.50. The disclosure for this sale can be found here. Insiders sold a total of 50,547 shares of company stock valued at $2,862,231 in the last three months. 0.24% of the stock is currently owned by corporate insiders.

Shares of USB stock opened at $55.07 on Friday. The firm has a 50-day moving average price of $54.32 and a 200 day moving average price of $52.87. U.S. Bancorp has a twelve month low of $43.14 and a twelve month high of $57.81. The company has a market capitalization of $86.21 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 2.12 and a beta of 1.10. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.86.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.04. U.S. Bancorp had a net margin of 26.54% and a return on equity of 15.39%. The firm had revenue of $5.92 billion during the quarter, compared to the consensus estimate of $5.81 billion. During the same quarter in the previous year, the company posted $1.06 EPS. The firm’s revenue for the quarter was up 3.9% on a year-over-year basis. As a group, research analysts predict that U.S. Bancorp will post 4.3 earnings per share for the current year.

U.S. Bancorp declared that its board has approved a share buyback plan on Thursday, June 27th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 3.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.42 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, September 27th. This represents a $1.68 annualized dividend and a yield of 3.05%. U.S. Bancorp’s payout ratio is presently 40.98%.

Several research analysts have recently issued reports on the company. Piper Jaffray Companies set a $59.00 price target on U.S. Bancorp and gave the stock a “buy” rating in a research note on Friday, September 13th. Macquarie downgraded U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $59.00 price target for the company. in a research note on Thursday, August 1st. Wedbush lifted their price target on U.S. Bancorp from $46.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Bank of America downgraded shares of U.S. Bancorp from a “neutral” rating to an “underperform” rating and cut their target price for the company from $55.00 to $53.00 in a research note on Monday, September 30th. Finally, Citigroup downgraded shares of U.S. Bancorp from a “neutral” rating to a “sell” rating and cut their target price for the company from $54.00 to $49.00 in a research note on Tuesday, October 8th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $56.47.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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