Minneapolis Portfolio Management Group LLC Has $26.13 Million Stake in U.S. Bancorp (NYSE:USB)

Minneapolis Portfolio Management Group LLC reduced its stake in shares of U.S. Bancorp (NYSE:USB) by 2.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 571,483 shares of the financial services provider’s stock after selling 11,781 shares during the quarter. U.S. Bancorp comprises 3.4% of Minneapolis Portfolio Management Group LLC’s portfolio, making the stock its 18th biggest position. Minneapolis Portfolio Management Group LLC’s holdings in U.S. Bancorp were worth $26,134,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of USB. Redwood Wealth Management Group LLC acquired a new position in U.S. Bancorp in the second quarter valued at about $25,000. 1620 Investment Advisors Inc. acquired a new stake in U.S. Bancorp during the 2nd quarter worth approximately $30,000. Eagle Bay Advisors LLC lifted its stake in U.S. Bancorp by 93.2% in the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after buying an additional 331 shares in the last quarter. LRI Investments LLC acquired a new position in shares of U.S. Bancorp in the first quarter valued at approximately $31,000. Finally, Y.D. More Investments Ltd bought a new stake in shares of U.S. Bancorp during the second quarter worth $33,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the company’s 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 sale, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on USB shares. Deutsche Bank Aktiengesellschaft cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective on the stock. in a research report on Thursday, October 24th. 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. Citigroup boosted their target price on U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Barclays raised their price target on shares of U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, UBS Group boosted their price objective on shares of U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $50.87.

U.S. Bancorp Stock Performance

NYSE:USB traded down $0.47 during mid-day trading on Friday, hitting $47.84. 5,480,459 shares of the stock were exchanged, compared to its average volume of 8,562,031. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. The firm’s 50-day simple moving average is $46.23 and its 200 day simple moving average is $43.06. U.S. Bancorp has a fifty-two week low of $32.39 and a fifty-two week high of $50.47. The stock has a market capitalization of $74.65 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 2.86 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter in the previous year, the business posted $1.05 earnings per share. U.S. Bancorp’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, equities analysts anticipate that U.S. Bancorp will post 3.92 EPS for the current fiscal year.

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

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date was Monday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio is presently 61.16%.

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.