U.S. Bancorp (NYSE:USB) Shares Sold by West Oak Capital LLC

West Oak Capital LLC lowered its stake in U.S. Bancorp (NYSE:USB) by 55.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,020 shares of the financial services provider’s stock after selling 3,786 shares during the period. West Oak Capital LLC’s holdings in U.S. Bancorp were worth $138,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in USB. Brookstone Capital Management lifted its stake in U.S. Bancorp by 2,056.5% in the first quarter. Brookstone Capital Management now owns 218,668 shares of the financial services provider’s stock worth $9,774,000 after acquiring an additional 208,528 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of U.S. Bancorp during the 2nd quarter worth about $20,188,000. Mission Wealth Management LP increased its stake in U.S. Bancorp by 200.7% in the first quarter. Mission Wealth Management LP now owns 18,273 shares of the financial services provider’s stock valued at $817,000 after purchasing an additional 12,197 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of U.S. Bancorp by 6.4% in the 1st quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock valued at $12,363,000 after buying an additional 16,686 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of U.S. Bancorp by 90.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 862,317 shares of the financial services provider’s stock worth $36,676,000 after purchasing an additional 409,192 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 1.6 %

USB opened at $49.16 on Friday. U.S. Bancorp has a one year low of $30.47 and a one year high of $50.47. The company has a market cap of $76.71 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 3.32 and a beta of 1.03. The business’s fifty day moving average is $45.24 and its two-hundred day moving average is $42.66. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating 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 net margin of 12.55% and a return on equity of 13.34%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.05 earnings per share. Analysts anticipate that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.07%. 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 66.23%.

U.S. Bancorp declared that its Board of Directors has authorized a stock repurchase plan on Thursday, September 12th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the financial services provider to buy up to 7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

USB has been the topic of a number of research reports. Citigroup raised their target price on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. DA Davidson increased their target price on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Thursday. Barclays upped their price objective on U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday. UBS Group upped their price target on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Finally, Robert W. Baird set a $54.00 price objective on shares of U.S. Bancorp in a research report on Thursday. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $50.71.

About U.S. Bancorp

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.