Icon Wealth Advisors LLC Has $42,000 Stake in U.S. Bancorp (NYSE:USB)

Icon Wealth Advisors LLC cut its holdings in U.S. Bancorp (NYSE:USB) by 94.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 928 shares of the financial services provider’s stock after selling 16,425 shares during the period. Icon Wealth Advisors LLC’s holdings in U.S. Bancorp were worth $42,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Natixis Advisors LLC grew its stake in shares of U.S. Bancorp by 16.6% in the 3rd quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock valued at $18,348,000 after buying an additional 56,990 shares during the period. Manning & Napier Advisors LLC bought a new position in shares of U.S. Bancorp in the second quarter worth $20,188,000. Janus Henderson Group PLC increased its holdings in shares of U.S. Bancorp by 6.4% in the first quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock worth $12,363,000 after purchasing an additional 16,686 shares during the period. Comerica Bank grew its position in U.S. Bancorp by 11.2% in the first quarter. Comerica Bank now owns 564,443 shares of the financial services provider’s stock worth $25,231,000 after acquiring an additional 56,738 shares in the last quarter. Finally, M&G Plc grew its position in U.S. Bancorp by 73.9% in the second quarter. M&G Plc now owns 314,241 shares of the financial services provider’s stock worth $12,570,000 after acquiring an additional 133,498 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

USB has been the subject of several analyst reports. Oppenheimer upped their price target on shares of U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. DA Davidson upped their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a research note on Thursday, October 17th. Evercore ISI raised 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 research note on Wednesday, October 30th. Finally, Stephens raised their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. 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 data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $51.22.

U.S. Bancorp Trading Up 2.1 %

Shares of U.S. Bancorp stock opened at $52.49 on Monday. The company’s fifty day simple moving average is $47.63 and its 200-day simple moving average is $44.06. The stock has a market capitalization of $81.89 billion, a PE ratio of 16.05, a P/E/G ratio of 3.03 and a beta of 1.02. U.S. Bancorp has a 1-year low of $36.49 and a 1-year high of $52.69. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick 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 analysts’ consensus estimates 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 12.92% and a return on equity of 12.91%. 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 firm posted $1.05 EPS. As a group, equities analysts anticipate that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.50 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

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

Insiders Place Their Bets

In related news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the transaction, the insider now directly owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. The trade was a 16.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.23% of the company’s stock.

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.