Valley National Advisers Inc. Has $1.40 Million Position in U.S. Bancorp (NYSE:USB)

Valley National Advisers Inc. lessened its stake in U.S. Bancorp (NYSE:USB) by 49.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 30,682 shares of the financial services provider’s stock after selling 30,041 shares during the quarter. Valley National Advisers Inc.’s holdings in U.S. Bancorp were worth $1,402,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC increased its stake in shares of U.S. Bancorp by 69.9% in the third quarter. Frank Rimerman Advisors LLC now owns 51,867 shares of the financial services provider’s stock worth $2,372,000 after acquiring an additional 21,346 shares during the last quarter. Smith Salley Wealth Management grew its stake in U.S. Bancorp by 0.7% in the third quarter. Smith Salley Wealth Management now owns 42,939 shares of the financial services provider’s stock valued at $1,964,000 after purchasing an additional 282 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in U.S. Bancorp by 5.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 427,700 shares of the financial services provider’s stock worth $19,326,000 after purchasing an additional 20,407 shares during the last quarter. Modera Wealth Management LLC increased its position in U.S. Bancorp by 2.8% in the 3rd quarter. Modera Wealth Management LLC now owns 11,448 shares of the financial services provider’s stock worth $524,000 after purchasing an additional 316 shares during the last quarter. Finally, GHP Investment Advisors Inc. raised its stake in shares of U.S. Bancorp by 0.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 83,947 shares of the financial services provider’s stock worth $3,839,000 after purchasing an additional 642 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

USB has been the topic of a number of research reports. DA Davidson increased their price objective on U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Evercore ISI increased their price target on shares of U.S. Bancorp from $49.00 to $51.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. Barclays raised their price target on shares of U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Oppenheimer upped their price objective on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $54.00 to $57.00 in a report on Monday, September 30th. 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.com, U.S. Bancorp presently has an average rating of “Hold” and an average price target of $50.72.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock opened at $47.74 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The company has a market cap of $74.50 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 2.85 and a beta of 1.03. The firm has a fifty day moving average price of $45.81 and a two-hundred day moving average price of $42.83. U.S. Bancorp has a fifty-two week low of $30.47 and a fifty-two week high of $50.47.

U.S. Bancorp (NYSE:USB) 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 12.91% and a net margin of 12.92%. 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 expect that U.S. Bancorp will post 3.9 EPS for the current year.

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 paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.19%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s dividend payout ratio is presently 66.23%.

U.S. Bancorp declared that its board has initiated a stock buyback program on Thursday, September 12th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

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

U.S. Bancorp 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.