U.S. Bancorp (NYSE:USB) Shares Sold by SevenBridge Financial Group LLC

SevenBridge Financial Group LLC reduced its holdings in shares of U.S. Bancorp (NYSE:USB) by 3.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,701 shares of the financial services provider’s stock after selling 261 shares during the quarter. SevenBridge Financial Group LLC’s holdings in U.S. Bancorp were worth $352,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Mount Yale Investment Advisors LLC grew its position in shares of U.S. Bancorp by 9.1% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 8,489 shares of the financial services provider’s stock worth $379,000 after acquiring an additional 710 shares in the last quarter. SVB Wealth LLC increased its stake in U.S. Bancorp by 5.9% during the first quarter. SVB Wealth LLC now owns 11,221 shares of the financial services provider’s stock valued at $502,000 after purchasing an additional 622 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in shares of U.S. Bancorp during the first quarter worth $1,471,000. Janus Henderson Group PLC raised its holdings in shares of U.S. Bancorp by 6.4% during the first quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock worth $12,363,000 after purchasing an additional 16,686 shares during the period. Finally, Dynasty Wealth Management LLC acquired a new position in shares of U.S. Bancorp in the 1st quarter valued at about $292,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on USB. Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a research note on Thursday, October 17th. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a research report on Thursday, October 17th. Evercore ISI boosted their price objective on U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Wells Fargo & Company upped their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft cut U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a research note on Thursday, October 24th. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, U.S. Bancorp presently has an average rating of “Hold” and an average price target of $51.22.

Insider Buying and Selling at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. The trade was a 16.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $52.49 on Monday. The stock has a market cap of $81.89 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 3.10 and a beta of 1.02. 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 $36.49 and a 12 month high of $52.69. The stock’s 50 day moving average price is $47.63 and its 200 day moving average price is $44.06.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (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 analysts’ expectations of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the firm earned $1.05 EPS. Equities research analysts anticipate that U.S. Bancorp will post 3.93 earnings per share 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. Shareholders of record on Monday, September 30th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 3.81%. U.S. Bancorp’s payout ratio is 61.16%.

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

U.S. Bancorp 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.