U.S. Bancorp (NYSE:USB) Holdings Decreased by Wittenberg Investment Management Inc.

Wittenberg Investment Management Inc. lessened its stake in U.S. Bancorp (NYSE:USB) by 53.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,700 shares of the financial services provider’s stock after selling 60,400 shares during the period. U.S. Bancorp accounts for 0.8% of Wittenberg Investment Management Inc.’s portfolio, making the stock its 24th biggest holding. Wittenberg Investment Management Inc.’s holdings in U.S. Bancorp were worth $2,410,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Mount Yale Investment Advisors LLC grew its holdings in U.S. Bancorp by 9.1% during the first quarter. Mount Yale Investment Advisors LLC now owns 8,489 shares of the financial services provider’s stock worth $379,000 after acquiring an additional 710 shares during the period. SVB Wealth LLC raised its holdings in shares of U.S. Bancorp by 5.9% in the 1st quarter. SVB Wealth LLC now owns 11,221 shares of the financial services provider’s stock worth $502,000 after purchasing an additional 622 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in U.S. Bancorp during the first quarter valued at approximately $1,471,000. Janus Henderson Group PLC boosted its holdings in U.S. Bancorp by 6.4% during the first quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock worth $12,363,000 after buying an additional 16,686 shares in the last quarter. Finally, Dynasty Wealth Management LLC acquired a new position in U.S. Bancorp in the first quarter worth approximately $292,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Robert W. Baird set a $54.00 price objective on U.S. Bancorp in a research report on Thursday, October 17th. Oppenheimer upped their target price on U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. The Goldman Sachs Group dropped their price target on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Evercore ISI raised their target price on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective on the stock. in a research report on Thursday, October 24th. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $51.22.

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction on Friday, October 18th. The shares were 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 in the company, valued at approximately $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of USB opened at $52.49 on Monday. The firm has a market cap of $81.89 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 3.10 and a beta of 1.02. The company’s fifty day moving average is $47.63 and its 200-day moving average is $44.06. 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 $52.69.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $6.90 billion. During the same period last year, the company earned $1.05 earnings per share. The business’s revenue was down 2.4% compared to the same quarter last year. Equities analysts expect that U.S. Bancorp will post 3.93 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. Investors of record on Monday, September 30th were issued a $0.50 dividend. 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 3.81%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s payout ratio is 61.16%.

U.S. Bancorp announced that its board has initiated a share buyback plan on Thursday, September 12th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 7% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.