U.S. Bancorp (NYSE:USB) Shares Sold by Liberty Capital Management Inc.

Liberty Capital Management Inc. reduced its position in U.S. Bancorp (NYSE:USB) by 3.9% in the 3rd quarter, Holdings Channel reports. The firm owned 5,565 shares of the financial services provider’s stock after selling 225 shares during the quarter. Liberty Capital Management Inc.’s holdings in U.S. Bancorp were worth $254,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of USB. Global Assets Advisory LLC purchased a new stake in shares of U.S. Bancorp in the first quarter valued at approximately $1,340,000. Brookstone Capital Management grew its holdings in U.S. Bancorp by 2,056.5% in the 1st quarter. Brookstone Capital Management now owns 218,668 shares of the financial services provider’s stock valued at $9,774,000 after buying an additional 208,528 shares in the last quarter. Bowman & Co S.C. purchased a new position in shares of U.S. Bancorp during the 1st quarter worth $207,000. Matrix Asset Advisors Inc. NY boosted its position in shares of U.S. Bancorp by 8.1% during the 1st quarter. Matrix Asset Advisors Inc. NY now owns 624,294 shares of the financial services provider’s stock valued at $27,906,000 after acquiring an additional 46,923 shares during the last quarter. Finally, Corundum Group Inc. grew its holdings in shares of U.S. Bancorp by 32.9% in the first quarter. Corundum Group Inc. now owns 26,214 shares of the financial services provider’s stock valued at $1,172,000 after purchasing an additional 6,491 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on USB. StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. lowered U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective for the company. in a research report on Thursday, June 27th. Jefferies Financial Group reduced their target price on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. Oppenheimer increased their price target on U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Wells Fargo & Company boosted their price objective on shares of U.S. Bancorp from $52.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $50.71.

Insider Transactions at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Up 0.2 %

USB opened at $48.03 on Wednesday. The business has a fifty day moving average price of $45.48 and a 200 day moving average price of $42.73. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $50.47. The stock has a market capitalization of $74.95 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 3.32 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The business had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the previous year, the company posted $1.05 earnings per share. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. Sell-side analysts expect 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 declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.50 dividend. 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. This represents a $2.00 dividend on an annualized basis and a yield of 4.16%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 66.23%.

U.S. Bancorp declared 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 reacquire up to 7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is 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.