Field & Main Bank Sells 2,910 Shares of U.S. Bancorp (NYSE:USB)

Field & Main Bank trimmed its stake in shares of U.S. Bancorp (NYSE:USB) by 11.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 23,033 shares of the financial services provider’s stock after selling 2,910 shares during the quarter. Field & Main Bank’s holdings in U.S. Bancorp were worth $1,053,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in USB. Marshall Wace LLP grew its position in shares of U.S. Bancorp by 1,438.4% in the 2nd quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock worth $89,853,000 after buying an additional 2,116,175 shares during the last quarter. National Bank of Canada FI grew its position in shares of U.S. Bancorp by 313.8% in the 2nd quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock worth $105,903,000 after buying an additional 2,046,522 shares during the last quarter. Bridges Investment Management Inc. grew its position in shares of U.S. Bancorp by 1,554.3% in the 3rd quarter. Bridges Investment Management Inc. now owns 1,503,638 shares of the financial services provider’s stock worth $68,761,000 after buying an additional 1,412,743 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of U.S. Bancorp by 16.2% in the 1st quarter. Clearbridge Investments LLC now owns 6,941,466 shares of the financial services provider’s stock worth $310,284,000 after buying an additional 967,143 shares during the last quarter. Finally, Cambiar Investors LLC bought a new stake in shares of U.S. Bancorp in the 3rd quarter worth approximately $43,619,000. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Price Performance

Shares of USB opened at $50.21 on Friday. The firm has a market cap of $78.33 billion, a PE ratio of 15.35, a P/E/G ratio of 3.02 and a beta of 1.02. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The firm has a fifty day simple moving average of $46.52 and a two-hundred day simple moving average of $43.36. U.S. Bancorp has a 1-year low of $33.61 and a 1-year high of $51.76.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. The business had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.05 EPS. On average, equities analysts anticipate that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a yield of 3.98%. U.S. Bancorp’s payout ratio is currently 61.16%.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group cut their price objective on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Royal Bank of Canada set a $53.00 target price on shares of U.S. Bancorp in a report on Thursday, October 17th. DA Davidson increased their price target on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Stephens boosted their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Finally, UBS Group raised their target price on shares of U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp currently has an average rating of “Hold” and an average target price of $51.12.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction on Friday, October 18th. The shares were 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.23% of the company’s stock.

About U.S. Bancorp

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.