U.S. Bancorp (NYSE:USB) Stake Trimmed by Cacti Asset Management LLC

Cacti Asset Management LLC lowered its position in shares of U.S. Bancorp (NYSE:USB) by 4.7% during the fourth quarter, Holdings Channel reports. The fund owned 68,935 shares of the financial services provider’s stock after selling 3,400 shares during the quarter. Cacti Asset Management LLC’s holdings in U.S. Bancorp were worth $3,326,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Lantz Financial LLC increased its stake in shares of U.S. Bancorp by 4.7% in the second quarter. Lantz Financial LLC now owns 48,116 shares of the financial services provider’s stock worth $1,910,000 after acquiring an additional 2,179 shares during the last quarter. Farther Finance Advisors LLC lifted its position in U.S. Bancorp by 31.1% during the 2nd quarter. Farther Finance Advisors LLC now owns 8,961 shares of the financial services provider’s stock worth $352,000 after acquiring an additional 2,127 shares during the last quarter. Rhumbline Advisers boosted its holdings in U.S. Bancorp by 4.7% during the second quarter. Rhumbline Advisers now owns 3,331,481 shares of the financial services provider’s stock valued at $132,260,000 after purchasing an additional 150,295 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of U.S. Bancorp by 0.7% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 133,958 shares of the financial services provider’s stock worth $5,318,000 after buying an additional 882 shares in the last quarter. Finally, Aveo Capital Partners LLC lifted its holdings in shares of U.S. Bancorp by 10.2% during the second quarter. Aveo Capital Partners LLC now owns 10,617 shares of the financial services provider’s stock valued at $422,000 after acquiring an additional 983 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp 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 value of $1,225,750.00. Following the completion of the sale, the insider now directly owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on USB. Royal Bank of Canada set a $53.00 target price on shares of U.S. Bancorp in a research report on Thursday, October 17th. Oppenheimer lifted their price objective 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. Stephens boosted their target price on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Finally, Compass Point upped their price target on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.98.

U.S. Bancorp Price Performance

USB traded up $0.28 on Thursday, hitting $48.11. 1,875,408 shares of the stock were exchanged, compared to its average volume of 8,176,125. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98. The firm has a market capitalization of $75.05 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 3.03 and a beta of 1.03. The business has a 50-day moving average of $50.19 and a two-hundred day moving average of $46.08.

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

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 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 usually an indication that the company’s board of directors believes its stock is undervalued.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date is Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio is currently 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.