Stock Yards Bank & Trust Co. Lowers Stock Holdings in U.S. Bancorp (NYSE:USB)

Stock Yards Bank & Trust Co. lowered its position in shares of U.S. Bancorp (NYSE:USB) by 9.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,577 shares of the financial services provider’s stock after selling 4,914 shares during the period. Stock Yards Bank & Trust Co.’s holdings in U.S. Bancorp were worth $2,084,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brooklyn Investment Group boosted its holdings in U.S. Bancorp by 4.4% in the 3rd quarter. Brooklyn Investment Group now owns 4,792 shares of the financial services provider’s stock valued at $219,000 after purchasing an additional 201 shares during the period. McAdam LLC raised its position in shares of U.S. Bancorp by 2.5% in the third quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock worth $389,000 after buying an additional 209 shares in the last quarter. Covestor Ltd boosted its stake in U.S. Bancorp by 15.2% during the third quarter. Covestor Ltd now owns 1,741 shares of the financial services provider’s stock valued at $80,000 after buying an additional 230 shares during the period. Valmark Advisers Inc. grew its position in U.S. Bancorp by 2.9% during the second quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock worth $346,000 after buying an additional 242 shares in the last quarter. Finally, Phillips Wealth Planners LLC increased its stake in U.S. Bancorp by 2.1% in the 3rd quarter. Phillips Wealth Planners LLC now owns 12,056 shares of the financial services provider’s stock worth $593,000 after acquiring an additional 243 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Insider Activity

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 shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the transaction, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Down 0.4 %

NYSE:USB opened at $51.10 on Friday. The firm has a market capitalization of $79.72 billion, a P/E ratio of 15.63, a P/E/G ratio of 3.03 and a beta of 1.03. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The company has a fifty day moving average of $49.52 and a 200 day moving average of $45.07.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The company had revenue of $6.86 billion during 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%. U.S. Bancorp’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.05 earnings per share. On average, research analysts predict that U.S. Bancorp will post 3.93 earnings per share for the current year.

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

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.91%. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. DA Davidson boosted their price objective on 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 target on shares of U.S. Bancorp in a research note on Thursday, October 17th. Barclays raised their price objective on shares of U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Wells Fargo & Company upped their target price on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a research report on Thursday, October 24th. Twelve equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $53.27.

About U.S. Bancorp

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.