Nicolet Advisory Services LLC Sells 1,964 Shares of U.S. Bancorp (NYSE:USB)

Nicolet Advisory Services LLC trimmed its stake in shares of U.S. Bancorp (NYSE:USB) by 10.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,354 shares of the financial services provider’s stock after selling 1,964 shares during the period. Nicolet Advisory Services LLC’s holdings in U.S. Bancorp were worth $719,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in U.S. Bancorp by 3.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock valued at $2,164,350,000 after buying an additional 1,796,336 shares during the last quarter. Davis Selected Advisers increased its position 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 worth $564,869,000 after purchasing an additional 43,437 shares during the period. Bank of New York Mellon Corp raised its holdings in 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 purchasing an additional 94,841 shares during the last quarter. Legal & General Group Plc lifted its position in U.S. Bancorp by 2.7% during 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 purchasing an additional 325,374 shares during the period. Finally, Van ECK Associates Corp boosted its stake 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 purchasing an additional 373,559 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 2.1 %

Shares of U.S. Bancorp stock opened at $52.49 on Friday. The firm has a market cap of $81.89 billion, a PE ratio of 16.05, a P/E/G ratio of 3.03 and a beta of 1.02. The business’s 50 day simple moving average is $47.63 and its 200 day simple moving average is $44.05. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a 52-week low of $36.49 and a 52-week high of $52.69.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.05 earnings per share. On average, analysts predict that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

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

U.S. Bancorp Increases Dividend

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

Insider Buying and Selling

In other U.S. Bancorp 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 transaction, the insider now directly owns 129,790 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on USB shares. Stephens increased 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 report on Thursday, October 17th. Oppenheimer increased their price target on U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group decreased their price objective on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Royal Bank of Canada set a $53.00 target price on U.S. Bancorp in a research note on Thursday, October 17th. Finally, Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Thirteen equities research 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 target price of $51.22.

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.