Fulton Bank N.A. Sells 1,678 Shares of U.S. Bancorp (NYSE:USB)

Fulton Bank N.A. trimmed its position in U.S. Bancorp (NYSE:USB) by 3.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 51,071 shares of the financial services provider’s stock after selling 1,678 shares during the period. Fulton Bank N.A.’s holdings in U.S. Bancorp were worth $2,443,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in USB. Brooklyn Investment Group raised its holdings in U.S. Bancorp by 4.4% in the 3rd quarter. Brooklyn Investment Group now owns 4,792 shares of the financial services provider’s stock worth $219,000 after purchasing an additional 201 shares during the period. McAdam LLC raised its stake in shares of U.S. Bancorp by 2.5% in the third quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock worth $389,000 after buying an additional 209 shares during the period. First Financial Bank Trust Division raised its stake in shares of U.S. Bancorp by 0.7% in the fourth quarter. First Financial Bank Trust Division now owns 31,037 shares of the financial services provider’s stock worth $1,485,000 after buying an additional 224 shares during the period. Covestor Ltd lifted its position in shares of U.S. Bancorp by 15.2% during the 3rd quarter. Covestor Ltd now owns 1,741 shares of the financial services provider’s stock valued at $80,000 after buying an additional 230 shares in the last quarter. Finally, Phillips Wealth Planners LLC increased its holdings in U.S. Bancorp by 2.1% in 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. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction on 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 completion of the sale, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.23% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

USB has been the topic of several analyst reports. Evercore ISI lifted their price target on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. The Goldman Sachs Group dropped their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Barclays increased their price target on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a research note on Monday. Royal Bank of Canada set a $53.00 price objective on U.S. Bancorp in a research note on Thursday, October 17th. Finally, Raymond James upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a research report on Thursday, December 19th. Eleven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, U.S. Bancorp currently has an average rating of “Hold” and an average target price of $54.07.

U.S. Bancorp Trading Down 0.7 %

USB stock traded down $0.34 during mid-day trading on Wednesday, reaching $48.36. 1,956,056 shares of the stock traded hands, compared to its average volume of 5,548,417. U.S. Bancorp has a one year low of $37.81 and a one year high of $53.98. The stock has a market capitalization of $75.44 billion, a PE ratio of 14.79, a PEG ratio of 3.01 and a beta of 1.05. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. The business has a 50-day moving average price of $50.21 and a two-hundred day moving average price of $46.38.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.99 by $0.04. The company had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The firm’s revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.05 EPS. Equities research analysts expect that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp announced that its Board of Directors has authorized a share repurchase 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 reacquire up to 7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date of this dividend is Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

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.