U.S. Bancorp (NYSE:USB) Position Reduced by Cape Cod Five Cents Savings Bank

Cape Cod Five Cents Savings Bank decreased its position in shares of U.S. Bancorp (NYSE:USB) by 21.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,214 shares of the financial services provider’s stock after selling 2,570 shares during the period. Cape Cod Five Cents Savings Bank’s holdings in U.S. Bancorp were worth $421,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd grew its position in U.S. Bancorp by 11.7% in the third quarter. Y Intercept Hong Kong Ltd now owns 56,141 shares of the financial services provider’s stock worth $2,567,000 after buying an additional 5,881 shares during the last quarter. MML Investors Services LLC grew its position in U.S. Bancorp by 3.8% in the third quarter. MML Investors Services LLC now owns 810,781 shares of the financial services provider’s stock worth $37,077,000 after buying an additional 29,671 shares during the last quarter. Legacy Investment Solutions LLC acquired a new position in U.S. Bancorp in the third quarter worth approximately $40,000. Zacks Investment Management grew its position in U.S. Bancorp by 9.6% in the third quarter. Zacks Investment Management now owns 1,571,527 shares of the financial services provider’s stock worth $71,866,000 after buying an additional 137,463 shares during the last quarter. Finally, Zega Financial LLC acquired a new position in U.S. Bancorp in the third quarter worth approximately $906,000. Institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Evercore ISI lifted their price objective 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 lifted their price objective on shares of U.S. Bancorp from $59.00 to $64.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. DA Davidson lifted their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Robert W. Baird set a $54.00 price objective on shares of U.S. Bancorp in a research report on Thursday, October 17th. Twelve research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, U.S. Bancorp currently has an average rating of “Hold” and a consensus price target of $52.72.

Insider Transactions at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the business’s 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 owns 129,790 shares in the company, valued at approximately $6,363,603.70. The trade was a 16.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Down 1.6 %

U.S. Bancorp stock opened at $51.34 on Tuesday. The firm has a market cap of $80.08 billion, a price-to-earnings ratio of 15.70, a P/E/G ratio of 3.08 and a beta of 1.03. 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 fifty-two week low of $37.81 and a fifty-two week high of $53.98. The firm has a fifty day moving average price of $49.24 and a two-hundred day moving average price of $44.95.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the previous year, the firm posted $1.05 EPS. The business’s revenue was down 2.4% compared to the same quarter last year. As a group, analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.50 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.90%. U.S. Bancorp’s payout ratio is presently 61.16%.

U.S. Bancorp announced that its board has authorized a share 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 shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.