U.S. Bancorp (NYSE:USB) Shares Acquired by Sittner & Nelson LLC

Sittner & Nelson LLC boosted its stake in U.S. Bancorp (NYSE:USB) by 5.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,774 shares of the financial services provider’s stock after acquiring an additional 1,316 shares during the period. Sittner & Nelson LLC’s holdings in U.S. Bancorp were worth $1,087,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Marshall Wace LLP raised its stake in shares of U.S. Bancorp by 1,438.4% during the second quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock worth $89,853,000 after purchasing an additional 2,116,175 shares during the last quarter. National Bank of Canada FI raised its position in U.S. Bancorp by 313.8% during the 2nd quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock worth $105,903,000 after buying an additional 2,046,522 shares during the last quarter. Clearbridge Investments LLC lifted its stake in shares of U.S. Bancorp by 16.2% in the 1st quarter. Clearbridge Investments LLC now owns 6,941,466 shares of the financial services provider’s stock worth $310,284,000 after acquiring an additional 967,143 shares during the period. Cambiar Investors LLC purchased a new stake in shares of U.S. Bancorp in the third quarter valued at about $43,619,000. Finally, American Century Companies Inc. increased its stake in shares of U.S. Bancorp by 15.6% during the second quarter. American Century Companies Inc. now owns 6,846,497 shares of the financial services provider’s stock worth $271,806,000 after acquiring an additional 925,073 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction dated 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 in the company, valued at $6,363,603.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.23% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on USB shares. The Goldman Sachs Group lowered their price objective on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Citigroup increased their price objective on U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Evercore ISI boosted their target price 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. Oppenheimer increased their price target on shares of U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Barclays upped their target price on shares of U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Thirteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Hold” and a consensus target price of $51.12.

U.S. Bancorp Stock Performance

NYSE:USB opened at $49.56 on Friday. 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 firm has a market cap of $77.34 billion, a PE ratio of 15.16, a P/E/G ratio of 2.79 and a beta of 1.02. The firm has a 50 day simple moving average of $46.40 and a 200-day simple moving average of $43.25. U.S. Bancorp has a 1-year low of $33.61 and a 1-year high of $51.76.

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 for the quarter, beating the consensus estimate 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 company had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the previous year, the firm posted $1.05 EPS. U.S. Bancorp’s revenue was down 2.4% on a year-over-year basis. On average, equities analysts expect that U.S. Bancorp will post 3.92 EPS for the current year.

U.S. Bancorp declared that its board has approved a stock buyback plan 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 buy up to 7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

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 paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.04%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 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.