Riverview Trust Co Has $264,000 Stock Holdings in U.S. Bancorp (NYSE:USB)

Riverview Trust Co cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 8.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,769 shares of the financial services provider’s stock after selling 539 shares during the period. Riverview Trust Co’s holdings in U.S. Bancorp were worth $264,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in USB. Valmark Advisers Inc. boosted its stake in U.S. Bancorp by 2.9% in the second quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock worth $346,000 after buying an additional 242 shares in the last quarter. Waldron Private Wealth LLC increased its stake in U.S. Bancorp by 1.9% in the 2nd quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock worth $534,000 after purchasing an additional 247 shares during the period. Naples Global Advisors LLC increased its stake in shares of 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 worth $2,624,000 after buying an additional 248 shares during the period. Kavar Capital Partners Group LLC raised its holdings in U.S. Bancorp by 4.7% during the 2nd quarter. Kavar Capital Partners Group LLC now owns 5,555 shares of the financial services provider’s stock valued at $221,000 after buying an additional 250 shares during the last quarter. Finally, STAR Financial Bank increased its position in shares of U.S. Bancorp by 3.3% in the second quarter. STAR Financial Bank now owns 7,772 shares of the financial services provider’s stock valued at $309,000 after acquiring an additional 250 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Stephens boosted their target price on U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday. Robert W. Baird set a $54.00 target price on U.S. Bancorp in a report on Thursday. Wells Fargo & Company lifted their price target on U.S. Bancorp from $52.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday. Royal Bank of Canada set a $53.00 target price on shares of U.S. Bancorp in a research report on Thursday. Finally, JPMorgan Chase & Co. lowered shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective on the stock. in a research note on Thursday, June 27th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, U.S. Bancorp currently has a consensus rating of “Hold” and a consensus price target of $50.71.

U.S. Bancorp Stock Down 1.6 %

NYSE USB opened at $49.16 on Friday. The company has a market capitalization of $76.71 billion, a P/E ratio of 16.28, a P/E/G ratio of 3.32 and a beta of 1.03. The stock has a 50 day moving average price of $45.24 and a 200-day moving average price of $42.66. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a one year low of $30.47 and a one year high of $50.47.

U.S. Bancorp (NYSE:USB) last announced its earnings results 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. 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 13.34% and a net margin of 12.55%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.05 EPS. As a group, equities analysts predict that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.07%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s dividend payout ratio is presently 66.23%.

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

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.