Citizens Financial Group Inc. RI Has $1.24 Million Stake in U.S. Bancorp (NYSE:USB)

Citizens Financial Group Inc. RI boosted its holdings in shares of U.S. Bancorp (NYSE:USB) by 30.7% in the third quarter, Holdings Channel.com reports. The fund owned 26,776 shares of the financial services provider’s stock after buying an additional 6,291 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in U.S. Bancorp were worth $1,238,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Davis Selected Advisers increased its holdings in U.S. Bancorp by 0.3% in the second quarter. Davis Selected Advisers now owns 14,228,444 shares of the financial services provider’s stock valued at $564,869,000 after purchasing an additional 43,437 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of U.S. Bancorp by 0.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,312,930 shares of the financial services provider’s stock worth $528,523,000 after buying an additional 94,841 shares during the period. Legal & General Group Plc increased its stake in shares of U.S. Bancorp by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock valued at $491,364,000 after acquiring an additional 325,374 shares during the last quarter. Van ECK Associates Corp raised its position in shares of U.S. Bancorp by 3.9% in the 3rd quarter. Van ECK Associates Corp now owns 9,852,013 shares of the financial services provider’s stock valued at $478,118,000 after acquiring an additional 373,559 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in U.S. Bancorp by 0.3% during the 2nd quarter. Clearbridge Investments LLC now owns 6,962,394 shares of the financial services provider’s stock worth $276,407,000 after acquiring an additional 20,928 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. DA Davidson increased their target price on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Royal Bank of Canada set a $53.00 price objective on U.S. Bancorp in a research note on Thursday, October 17th. Barclays boosted their target price on U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating 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. Finally, Wells Fargo & Company boosted their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $51.22.

U.S. Bancorp Trading Up 2.1 %

U.S. Bancorp stock opened at $52.48 on Friday. The company has a market cap of $81.87 billion, a price-to-earnings ratio of 16.05, a P/E/G ratio of 2.97 and a beta of 1.02. The firm has a 50-day moving average of $47.63 and a 200-day moving average of $44.03. 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 one year low of $36.49 and a one year high of $52.69.

U.S. Bancorp (NYSE:USB) last posted its quarterly 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 during the quarter, compared to the consensus estimate of $6.90 billion. During the same period last year, the company earned $1.05 earnings per share. The business’s revenue was down 2.4% compared to the same quarter last year. On average, equities analysts expect that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.50 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s dividend payout ratio is 61.16%.

U.S. Bancorp announced that its Board of Directors has approved a stock repurchase program on Thursday, September 12th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, 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 transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.23% of the company’s stock.

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.