U.S. Bancorp (NYSE:USB) Shares Sold by CFS Investment Advisory Services LLC

CFS Investment Advisory Services LLC lowered its stake in U.S. Bancorp (NYSE:USB) by 1.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 17,583 shares of the financial services provider’s stock after selling 233 shares during the quarter. CFS Investment Advisory Services LLC’s holdings in U.S. Bancorp were worth $804,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of USB. Redwood Wealth Management Group LLC acquired a new stake in U.S. Bancorp in the second quarter worth about $25,000. Frazier Financial Advisors LLC lifted its holdings in U.S. Bancorp by 222.7% in the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 441 shares during the period. 1620 Investment Advisors Inc. acquired a new stake in U.S. Bancorp in the 2nd quarter valued at about $30,000. LRI Investments LLC acquired a new stake in U.S. Bancorp in the 1st quarter valued at about $31,000. Finally, Y.D. More Investments Ltd acquired a new stake in U.S. Bancorp in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Activity

In other news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the completion of the sale, the insider now directly owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Trading Up 2.1 %

Shares of NYSE USB opened at $52.48 on Friday. The stock has a market cap of $81.87 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 3.03 and a beta of 1.02. The business has a 50 day simple moving average of $47.63 and a 200 day simple moving average of $44.03. U.S. Bancorp has a 52 week low of $36.49 and a 52 week high of $52.69. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 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 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 analysts’ expectations of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.05 EPS. On average, research analysts predict that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

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

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 given a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 3.81%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio is presently 61.16%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on USB shares. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $54.00 to $57.00 in a report on Monday, September 30th. Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a report on Thursday, October 17th. Evercore ISI upped their price target 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. Barclays upped their price target on shares of U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group cut their price objective on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, U.S. Bancorp has an average rating of “Hold” and an average target price of $51.22.

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.