U.S. Bancorp (NYSE:USB) Shares Sold by Carret Asset Management LLC

Carret Asset Management LLC trimmed its position in shares of U.S. Bancorp (NYSE:USB) by 0.9% during the third quarter, HoldingsChannel reports. The fund owned 36,164 shares of the financial services provider’s stock after selling 330 shares during the quarter. Carret Asset Management LLC’s holdings in U.S. Bancorp were worth $1,654,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC acquired a new position in U.S. Bancorp during the 2nd quarter worth approximately $20,188,000. Mission Wealth Management LP grew its holdings in U.S. Bancorp by 200.7% during the first quarter. Mission Wealth Management LP now owns 18,273 shares of the financial services provider’s stock worth $817,000 after acquiring an additional 12,197 shares during the period. Janus Henderson Group PLC raised its position in U.S. Bancorp by 6.4% in the first quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock worth $12,363,000 after acquiring an additional 16,686 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in U.S. Bancorp by 90.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 862,317 shares of the financial services provider’s stock valued at $36,676,000 after acquiring an additional 409,192 shares during the period. Finally, Koshinski Asset Management Inc. purchased a new stake in shares of U.S. Bancorp during the 1st quarter worth $732,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

USB has been the subject of a number of research analyst reports. UBS Group increased their price target on shares of U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Robert W. Baird set a $54.00 target price on shares of U.S. Bancorp in a report on Thursday, October 17th. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective for the company. in a research note on Thursday. Finally, Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Thirteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, U.S. Bancorp presently has an average rating of “Hold” and a consensus target price of $50.72.

U.S. Bancorp Trading Down 1.5 %

NYSE USB opened at $47.74 on Friday. The company has a market cap of $74.50 billion, a P/E ratio of 15.81, a P/E/G ratio of 2.85 and a beta of 1.03. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $50.47. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The company has a 50-day moving average of $45.81 and a 200-day moving average of $42.83.

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, topping the consensus estimate of $0.99 by $0.04. The firm 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%. U.S. Bancorp’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.05 earnings per share. As a group, equities analysts predict that U.S. Bancorp will post 3.9 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.50 dividend. The ex-dividend date was Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.19%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio (DPR) is presently 66.23%.

U.S. Bancorp declared that its Board of Directors has authorized a share repurchase plan on Thursday, September 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to purchase up to 7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the transaction, the insider now directly owns 129,790 shares of the company’s stock, valued at $6,363,603.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.23% of the stock is owned by company insiders.

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.