Douglas Lane & Associates LLC Decreases Stock Position in U.S. Bancorp (NYSE:USB)

Douglas Lane & Associates LLC reduced its stake in U.S. Bancorp (NYSE:USB) by 4.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,522,526 shares of the financial services provider’s stock after selling 74,717 shares during the period. Douglas Lane & Associates LLC owned approximately 0.10% of U.S. Bancorp worth $69,625,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in U.S. Bancorp by 0.4% during the first quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider’s stock worth $6,051,096,000 after purchasing an additional 502,776 shares during the last quarter. Davis Selected Advisers boosted its stake in U.S. Bancorp by 0.3% during the second quarter. Davis Selected Advisers now owns 14,228,444 shares of the financial services provider’s stock worth $564,869,000 after acquiring an additional 43,437 shares in the last quarter. Bank of New York Mellon Corp increased its position in U.S. Bancorp by 0.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,312,930 shares of the financial services provider’s stock valued at $528,523,000 after buying an additional 94,841 shares in the last quarter. Legal & General Group Plc grew its position in U.S. Bancorp by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock valued at $491,364,000 after purchasing an additional 325,374 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of U.S. Bancorp by 2.9% in the 2nd quarter. Van ECK Associates Corp now owns 9,478,454 shares of the financial services provider’s stock worth $376,295,000 after purchasing an additional 271,078 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on USB shares. Evercore ISI raised their target price on shares of U.S. Bancorp from $49.00 to $51.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. The Goldman Sachs Group decreased their price objective on shares of 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. DA Davidson lifted their price target on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. downgraded shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price on the stock. in a report on Thursday, June 27th. Finally, Oppenheimer boosted their target price on shares of U.S. Bancorp from $54.00 to $57.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Hold” and a consensus price target of $49.14.

Insider Buying and Selling at U.S. Bancorp

In related news, Director Aleem Gillani purchased 10,000 shares of the stock in a transaction on Thursday, July 18th. The shares were bought at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $449,900. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Up 2.9 %

U.S. Bancorp stock traded up $1.32 during midday trading on Friday, hitting $46.26. 8,809,001 shares of the stock were exchanged, compared to its average volume of 8,241,369. U.S. Bancorp has a 1 year low of $30.47 and a 1 year high of $47.31. The firm has a market cap of $72.19 billion, a P/E ratio of 15.32, a P/E/G ratio of 3.32 and a beta of 1.03. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. The company has a 50 day moving average price of $44.55 and a two-hundred day moving average price of $42.51.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The firm had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.81 billion. During the same period last year, the firm posted $1.12 EPS. U.S. Bancorp’s quarterly revenue was down 4.3% compared to the same quarter last year. On average, sell-side analysts predict that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.32%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio (DPR) is 66.23%.

U.S. Bancorp announced that its Board of Directors has approved a stock buyback plan on Thursday, September 12th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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.