U.S. Bancorp (NYSE:USB) Holdings Cut by V Square Quantitative Management LLC

V Square Quantitative Management LLC trimmed its position in shares of U.S. Bancorp (NYSE:USB) by 3.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 31,148 shares of the financial services provider’s stock after selling 1,261 shares during the period. V Square Quantitative Management LLC’s holdings in U.S. Bancorp were worth $1,424,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in USB. Vanguard Group Inc. grew its holdings in U.S. Bancorp by 0.4% during the first quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider’s stock valued at $6,051,096,000 after purchasing an additional 502,776 shares during the last quarter. Davis Selected Advisers increased its holdings in shares of U.S. Bancorp by 0.3% during the 2nd quarter. Davis Selected Advisers now owns 14,228,444 shares of the financial services provider’s stock worth $564,869,000 after purchasing an additional 43,437 shares during the period. Bank of New York Mellon Corp raised its holdings in U.S. Bancorp by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,312,930 shares of the financial services provider’s stock valued at $528,523,000 after acquiring an additional 94,841 shares in the last quarter. Legal & General Group Plc raised its stake in shares of U.S. Bancorp by 2.7% in the second quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock valued at $491,364,000 after purchasing an additional 325,374 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of U.S. Bancorp by 2.9% during the 2nd quarter. Van ECK Associates Corp now owns 9,478,454 shares of the financial services provider’s stock worth $376,295,000 after acquiring an additional 271,078 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the company. Evercore ISI boosted their price target on U.S. Bancorp from $49.00 to $51.00 and gave the company an “in-line” rating in a research note on Wednesday, October 2nd. Royal Bank of Canada restated an “outperform” rating and issued a $48.00 price objective on shares of U.S. Bancorp in a research report on Friday, September 13th. Barclays upped their target price on shares of U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday. Wells Fargo & Company raised their price target on U.S. Bancorp from $52.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Stephens boosted their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $50.34.

U.S. Bancorp Stock Down 1.4 %

Shares of NYSE:USB traded down $0.70 during midday trading on Friday, hitting $49.27. The stock had a trading volume of 1,979,999 shares, compared to its average volume of 8,346,063. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. The business’s 50-day simple moving average is $45.10 and its 200-day simple moving average is $42.63. The company has a market cap of $76.88 billion, a P/E ratio of 16.55, a PEG ratio of 3.32 and a beta of 1.03. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $50.47.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data 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 net margin of 12.55% and a return on equity of 13.34%. The company had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same period in the prior year, the firm earned $1.05 earnings per share. The company’s revenue was down 2.4% on a year-over-year basis. On average, sell-side analysts forecast that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s payout ratio is presently 66.23%.

U.S. Bancorp declared that its Board of Directors has approved a stock 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 purchase up to 7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.

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.