Davis R M Inc. Sells 19,821 Shares of U.S. Bancorp (NYSE:USB)

by · The Markets Daily

Davis R M Inc. lowered its position in shares of U.S. Bancorp (NYSE:USB – Free Report) by 4.6% during the third quarter, HoldingsChannel reports. The fund owned 407,928 shares of the financial services provider’s stock after selling 19,821 shares during the quarter. Davis R M Inc.’s holdings in U.S. Bancorp were worth $18,655,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Redwood Wealth Management Group LLC bought a new stake in shares of U.S. Bancorp during the second quarter worth about $25,000. Frazier Financial Advisors LLC raised its stake in shares of U.S. Bancorp by 222.7% during the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 441 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of U.S. Bancorp during the second quarter worth $30,000. LRI Investments LLC bought a new stake in shares of U.S. Bancorp in the first quarter worth $31,000. Finally, Y.D. More Investments Ltd acquired a new stake in U.S. Bancorp in the second quarter valued at $33,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Up 2.1 %

U.S. Bancorp stock opened at $52.49 on Monday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The firm’s fifty day moving average price is $47.63 and its two-hundred day moving average price is $44.06. The firm has a market capitalization of $81.89 billion, a price-to-earnings ratio of 16.05, a price-to-earnings-growth ratio of 3.10 and a beta of 1.02. U.S. Bancorp has a 1-year low of $36.49 and a 1-year high of $52.69.

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

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders 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 is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 3.81%. U.S. Bancorp’s dividend payout ratio (DPR) is 61.16%.

U.S. Bancorp announced that its Board of Directors has initiated a stock repurchase plan on Thursday, September 12th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several brokerages have commented on USB. The Goldman Sachs Group cut their target price on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Evercore ISI upped their target price on U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Stephens increased their target price 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. Oppenheimer boosted their price target 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. Finally, Barclays increased their price objective on shares of U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, U.S. Bancorp currently has a consensus rating of “Hold” and a consensus target price of $51.22.

Get Our Latest Analysis on USB

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 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 transaction, the insider now owns 129,790 shares in the company, valued at $6,363,603.70. The trade was a 16.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.23% of the company’s stock.

About U.S. Bancorp

(Free Report)

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.

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