ING Groep NV Has $3.62 Million Holdings in U.S. Bancorp (NYSE:USB)

ING Groep NV decreased its stake in U.S. Bancorp (NYSE:USB) by 59.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 79,241 shares of the financial services provider’s stock after selling 114,358 shares during the period. ING Groep NV’s holdings in U.S. Bancorp were worth $3,624,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of USB. Ferguson Wellman Capital Management Inc. grew its holdings in shares of U.S. Bancorp by 0.4% in the 3rd quarter. Ferguson Wellman Capital Management Inc. now owns 81,688 shares of the financial services provider’s stock worth $3,736,000 after purchasing an additional 350 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in U.S. Bancorp by 8.5% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 43,906 shares of the financial services provider’s stock valued at $2,008,000 after buying an additional 3,437 shares in the last quarter. Metis Global Partners LLC grew its stake in U.S. Bancorp by 8.9% during the third quarter. Metis Global Partners LLC now owns 71,443 shares of the financial services provider’s stock worth $3,267,000 after buying an additional 5,827 shares during the last quarter. Zions Bancorporation N.A. increased its holdings in shares of U.S. Bancorp by 9.7% during the third quarter. Zions Bancorporation N.A. now owns 172,071 shares of the financial services provider’s stock worth $7,869,000 after buying an additional 15,281 shares in the last quarter. Finally, Huntington National Bank raised its stake in shares of U.S. Bancorp by 6.6% in the third quarter. Huntington National Bank now owns 536,640 shares of the financial services provider’s stock valued at $24,541,000 after acquiring an additional 33,408 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wells Fargo & Company increased their price target on U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday. DA Davidson raised their target price on U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a research report on Thursday, October 24th. Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a research report on Thursday, October 17th. Finally, Oppenheimer upped their target price on shares of U.S. Bancorp from $59.00 to $64.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $51.22.

U.S. Bancorp Stock Down 0.8 %

Shares of U.S. Bancorp stock opened at $49.90 on Friday. The business has a fifty day simple moving average of $46.99 and a 200 day simple moving average of $43.69. The stock has a market cap of $77.85 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 3.02 and a beta of 1.02. 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 has a 12 month low of $36.49 and a 12 month high of $51.76.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating 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 company had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the prior year, the business posted $1.05 EPS. U.S. Bancorp’s revenue was down 2.4% on a year-over-year basis. Research analysts predict that U.S. Bancorp will post 3.93 EPS for the current year.

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 issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 4.01%. U.S. Bancorp’s dividend payout ratio (DPR) is 61.16%.

U.S. Bancorp announced that its Board of Directors has initiated 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 typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at U.S. Bancorp

In related 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 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.23% of the company’s stock.

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.