AM Investment Strategies LLC Cuts Stock Position in U.S. Bancorp (NYSE:USB)

AM Investment Strategies LLC lowered its position in U.S. Bancorp (NYSE:USB) by 0.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 222,718 shares of the financial services provider’s stock after selling 219 shares during the quarter. U.S. Bancorp comprises approximately 2.5% of AM Investment Strategies LLC’s investment portfolio, making the stock its 8th biggest holding. AM Investment Strategies LLC’s holdings in U.S. Bancorp were worth $10,185,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Norden Group LLC grew its position in U.S. Bancorp by 20.2% in the 1st quarter. Norden Group LLC now owns 18,945 shares of the financial services provider’s stock valued at $847,000 after buying an additional 3,182 shares in the last quarter. J.W. Cole Advisors Inc. lifted its stake in shares of U.S. Bancorp by 4.5% in the 1st quarter. J.W. Cole Advisors Inc. now owns 13,569 shares of the financial services provider’s stock worth $605,000 after acquiring an additional 580 shares during the period. Private Advisor Group LLC boosted its holdings in shares of U.S. Bancorp by 0.6% in the first quarter. Private Advisor Group LLC now owns 94,061 shares of the financial services provider’s stock valued at $4,205,000 after acquiring an additional 547 shares in the last quarter. Mission Wealth Management LP increased its stake in shares of U.S. Bancorp by 200.7% during the first quarter. Mission Wealth Management LP now owns 18,273 shares of the financial services provider’s stock valued at $817,000 after acquiring an additional 12,197 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in U.S. Bancorp by 90.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 862,317 shares of the financial services provider’s stock worth $36,676,000 after purchasing an additional 409,192 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 1.0 %

Shares of USB traded down $0.47 during trading hours on Friday, reaching $47.84. The company’s stock had a trading volume of 5,480,459 shares, compared to its average volume of 8,321,500. The company has a 50 day moving average of $46.23 and a two-hundred day moving average of $43.05. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The firm has a market cap of $74.65 billion, a price-to-earnings ratio of 14.63, a P/E/G ratio of 2.88 and a beta of 1.03. U.S. Bancorp has a 1-year low of $32.39 and a 1-year high of $50.47.

U.S. Bancorp (NYSE:USB) last released 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 12.92% and a return on equity of 12.91%. The firm had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same quarter in the prior year, the business earned $1.05 EPS. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, research analysts predict that U.S. Bancorp will post 3.92 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently announced 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 was Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.18%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s payout ratio is 61.16%.

U.S. Bancorp announced that its Board of Directors has initiated a share 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 repurchase up to 7% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

USB has been the topic of several research analyst reports. Citigroup lifted their price target on U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a report on Thursday, October 17th. Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a research note on Thursday, October 17th. StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, DA Davidson upped their price target on U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $50.87.

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp 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 completion of the sale, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.23% of the company’s stock.

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.