U.S. Bancorp (NYSE:USB) Stock Position Decreased by DHJJ Financial Advisors Ltd.

by · The Markets Daily

DHJJ Financial Advisors Ltd. cut its stake in shares of U.S. Bancorp (NYSE:USB – Free Report) by 4.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,150 shares of the financial services provider’s stock after selling 428 shares during the period. DHJJ Financial Advisors Ltd.’s holdings in U.S. Bancorp were worth $464,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Marshall Wace LLP grew its position in U.S. Bancorp by 1,438.4% during the 2nd quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock worth $89,853,000 after purchasing an additional 2,116,175 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of U.S. Bancorp by 313.8% during the second quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock valued at $105,903,000 after buying an additional 2,046,522 shares in the last quarter. BNP Paribas Financial Markets raised its position in U.S. Bancorp by 88.9% during the first quarter. BNP Paribas Financial Markets now owns 2,331,050 shares of the financial services provider’s stock valued at $104,198,000 after buying an additional 1,097,179 shares during the period. Clearbridge Investments LLC lifted its stake in U.S. Bancorp by 16.2% in the 1st quarter. Clearbridge Investments LLC now owns 6,941,466 shares of the financial services provider’s stock worth $310,284,000 after acquiring an additional 967,143 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in U.S. Bancorp by 15.6% during the 2nd quarter. American Century Companies Inc. now owns 6,846,497 shares of the financial services provider’s stock worth $271,806,000 after acquiring an additional 925,073 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the 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 completion of the transaction, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Stephens increased their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Royal Bank of Canada set a $53.00 price target on shares of U.S. Bancorp in a research note on Thursday, October 17th. DA Davidson lifted their price objective on U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, UBS Group boosted their target price on U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $50.71.

Check Out Our Latest Analysis on U.S. Bancorp

U.S. Bancorp Price Performance

NYSE:USB opened at $48.53 on Thursday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. The stock has a market cap of $75.73 billion, a P/E ratio of 16.07, a PEG ratio of 3.32 and a beta of 1.03. The company has a fifty day moving average price of $45.61 and a 200 day moving average price of $42.77. U.S. Bancorp has a one year low of $30.47 and a one year high of $50.47.

U.S. Bancorp (NYSE:USB – Get Free Report) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The business had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the business earned $1.05 earnings per share. Analysts anticipate that U.S. Bancorp will post 3.86 earnings per share for the current year.

U.S. Bancorp announced that its board has approved a share buyback program on Thursday, September 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.50 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 4.12%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is 66.23%.

About U.S. Bancorp

(Free Report)

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.

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