STAR Financial Bank Sells 1,080 Shares of U.S. Bancorp (NYSE:USB)

STAR Financial Bank reduced its stake in U.S. Bancorp (NYSE:USB) by 13.9% during the third quarter, according to its most recent filing with the SEC. The fund owned 6,692 shares of the financial services provider’s stock after selling 1,080 shares during the quarter. STAR Financial Bank’s holdings in U.S. Bancorp were worth $306,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC increased its holdings in U.S. Bancorp by 723.7% in the 3rd quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock worth $146,864,000 after acquiring an additional 2,821,642 shares during the last quarter. Marshall Wace LLP raised its position in shares of U.S. Bancorp by 1,438.4% in the second quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock valued at $89,853,000 after purchasing an additional 2,116,175 shares during the period. National Bank of Canada FI lifted its stake in shares of 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 valued at $105,903,000 after buying an additional 2,046,522 shares in the last quarter. Bridges Investment Management Inc. boosted its holdings in U.S. Bancorp by 1,554.3% in the 3rd quarter. Bridges Investment Management Inc. now owns 1,503,638 shares of the financial services provider’s stock worth $68,761,000 after buying an additional 1,412,743 shares during the period. Finally, Cambiar Investors LLC bought a new position in U.S. Bancorp in the 3rd quarter worth approximately $43,619,000. 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 the business’s stock in a transaction on 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 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 legal filing with the SEC, which can be accessed through this link. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on USB. The Goldman Sachs Group dropped their target price on 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. Oppenheimer increased their price objective on U.S. Bancorp from $59.00 to $64.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Wells Fargo & Company lifted their target price on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $54.00 to $57.00 in a research report on Monday, September 30th. Finally, Stephens raised their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $51.22.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock opened at $50.74 on Thursday. The company has a market cap of $79.16 billion, a PE ratio of 15.52, a P/E/G ratio of 2.97 and a beta of 1.02. The business has a 50 day moving average of $47.33 and a 200 day moving average of $43.91. U.S. Bancorp has a 52 week low of $36.49 and a 52 week high of $51.76. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04.

U.S. Bancorp (NYSE:USB) last announced 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 net margin of 12.92% and a return on equity of 12.91%. The firm had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same quarter in the previous year, the firm posted $1.05 EPS. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, equities research analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp announced that its Board of Directors has authorized a stock buyback plan on Thursday, September 12th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.00 annualized dividend and a yield of 3.94%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s payout ratio is presently 61.16%.

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.