U.S. Bancorp (NYSE:USB) Shares Sold by Dearborn Partners LLC

Dearborn Partners LLC lowered its position in shares of U.S. Bancorp (NYSE:USB) by 0.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 27,718 shares of the financial services provider’s stock after selling 211 shares during the quarter. Dearborn Partners LLC’s holdings in U.S. Bancorp were worth $1,268,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in USB. McAdam LLC grew its holdings in shares of U.S. Bancorp by 2.5% during the third quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock valued at $389,000 after buying an additional 209 shares during the last quarter. Covestor Ltd raised its holdings in shares of U.S. Bancorp by 15.2% during the third quarter. Covestor Ltd now owns 1,741 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 230 shares during the last quarter. Valmark Advisers Inc. grew its holdings in shares of U.S. Bancorp by 2.9% during the 2nd quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock worth $346,000 after purchasing an additional 242 shares during the period. Phillips Wealth Planners LLC increased its position in shares of U.S. Bancorp by 2.1% during the third 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 during the period. Finally, Waldron Private Wealth LLC raised its position in shares of U.S. Bancorp by 1.9% during the 2nd quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock worth $534,000 after acquiring an additional 247 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp 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 transaction, the insider now directly owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.23% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently commented on USB. Oppenheimer boosted their price target on U.S. Bancorp from $59.00 to $64.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Evercore ISI upped their price target on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group reduced their price target 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. Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a research note on Thursday, October 17th. Finally, UBS Group boosted 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 equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.12.

U.S. Bancorp Stock Performance

NYSE:USB opened at $50.32 on Friday. The firm’s fifty day simple moving average is $46.79 and its 200-day simple moving average is $43.58. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The stock has a market cap of $78.50 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 3.02 and a beta of 1.02. U.S. Bancorp has a fifty-two week low of $36.21 and a fifty-two week high of $51.76.

U.S. Bancorp (NYSE:USB) last released 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 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.05 earnings per share. Analysts expect that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp announced that its board 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 repurchase up to 7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.50 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.97%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

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.