Mn Services Vermogensbeheer B.V. Sells 21,200 Shares of U.S. Bancorp (NYSE:USB)

Mn Services Vermogensbeheer B.V. lessened its holdings in U.S. Bancorp (NYSE:USB) by 3.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 600,600 shares of the financial services provider’s stock after selling 21,200 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in U.S. Bancorp were worth $27,465,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in USB. Redwood Wealth Management Group LLC purchased a new stake in U.S. Bancorp during the 2nd quarter valued at about $25,000. LRI Investments LLC purchased a new stake in shares of U.S. Bancorp during the first quarter valued at approximately $31,000. Eagle Bay Advisors LLC increased its stake in shares of 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 worth $31,000 after buying an additional 331 shares during the period. 1620 Investment Advisors Inc. purchased a new position in shares of U.S. Bancorp in the second quarter worth $30,000. Finally, Y.D. More Investments Ltd purchased a new stake in U.S. Bancorp during the 2nd quarter valued at $33,000. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Down 0.5 %

Shares of USB traded down $0.26 during trading hours on Monday, hitting $47.58. The company had a trading volume of 1,212,837 shares, compared to its average volume of 8,288,126. U.S. Bancorp has a 52-week low of $33.61 and a 52-week high of $50.47. The firm has a fifty day moving average price of $46.23 and a 200-day moving average price of $43.09. The stock has a market capitalization of $74.25 billion, a price-to-earnings ratio of 14.63, a P/E/G ratio of 2.86 and a beta of 1.02. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.04. The firm had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The company’s revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.05 earnings per share. On average, equities research analysts forecast that U.S. Bancorp will post 3.92 EPS for the current fiscal year.

U.S. Bancorp announced that its board has approved a share repurchase program on Thursday, September 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.20%. This is a boost 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 61.16%.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on USB shares. Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a research report on Thursday, October 17th. 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 research report on Thursday, October 17th. Stephens lifted their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. StockNews.com upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $54.00 to $57.00 in a report on Monday, September 30th. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, U.S. Bancorp currently has an average rating of “Hold” and a consensus target price of $50.87.

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.