U.S. Bancorp (NYSE:USB) Shares Sold by Granite Group Advisors LLC

Granite Group Advisors LLC decreased its holdings in U.S. Bancorp (NYSE:USB) by 1.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,198 shares of the financial services provider’s stock after selling 585 shares during the period. U.S. Bancorp comprises approximately 1.6% of Granite Group Advisors LLC’s portfolio, making the stock its 15th largest position. Granite Group Advisors LLC’s holdings in U.S. Bancorp were worth $2,433,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of USB. McAdam LLC lifted its stake in U.S. Bancorp by 2.5% during the third quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock worth $389,000 after purchasing an additional 209 shares during the last quarter. Valmark Advisers Inc. grew its position in shares of U.S. Bancorp by 2.9% in the 2nd quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock valued at $346,000 after buying an additional 242 shares during the last quarter. Phillips Wealth Planners LLC raised its stake in U.S. Bancorp by 2.1% during the 3rd quarter. Phillips Wealth Planners LLC now owns 12,056 shares of the financial services provider’s stock worth $593,000 after acquiring an additional 243 shares in the last quarter. Waldron Private Wealth LLC lifted its position in U.S. Bancorp by 1.9% in the second quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock valued at $534,000 after acquiring an additional 247 shares during the last quarter. Finally, Naples Global Advisors LLC boosted its stake in U.S. Bancorp by 0.4% in the second quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock valued at $2,624,000 after acquiring an additional 248 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Buying and Selling at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the 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 transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Price Performance

NYSE:USB traded up $0.07 during trading hours on Friday, reaching $49.63. 378,239 shares of the company traded hands, compared to its average volume of 8,312,376. U.S. Bancorp has a 1-year low of $33.61 and a 1-year high of $51.76. The stock has a market cap of $77.45 billion, a P/E ratio of 15.16, a P/E/G ratio of 2.79 and a beta of 1.02. The firm’s 50-day moving average is $46.40 and its 200-day moving average is $43.25. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last posted 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 12.91% and a net margin of 12.92%. The firm had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter last year, the business posted $1.05 EPS. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. Equities research analysts expect that U.S. Bancorp will post 3.92 earnings per share for the current fiscal year.

U.S. Bancorp announced that its Board of Directors has initiated a stock buyback plan 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 shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

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. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s payout ratio is presently 61.16%.

Analyst Upgrades and Downgrades

USB has been the subject of several research reports. Robert W. Baird set a $54.00 target price on U.S. Bancorp in a report on Thursday, October 17th. Stephens boosted their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Citigroup increased their price objective on U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. DA Davidson lifted their target price on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Oppenheimer upped their price target on shares of U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a research report on Tuesday. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $51.12.

U.S. Bancorp Company 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.