Mutual of America Capital Management LLC Sells 8,059 Shares of U.S. Bancorp (NYSE:USB)

Mutual of America Capital Management LLC trimmed its holdings in shares of U.S. Bancorp (NYSE:USB) by 3.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 216,136 shares of the financial services provider’s stock after selling 8,059 shares during the period. Mutual of America Capital Management LLC’s holdings in U.S. Bancorp were worth $9,884,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. McAdam LLC grew its stake in U.S. Bancorp by 2.5% in the third quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock valued at $389,000 after purchasing an additional 209 shares in the last quarter. Covestor Ltd increased its holdings 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 worth $80,000 after buying an additional 230 shares during the last quarter. Valmark Advisers Inc. raised 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 acquiring an additional 242 shares in the last quarter. Phillips Wealth Planners LLC lifted its stake in U.S. Bancorp by 2.1% in the third quarter. Phillips Wealth Planners LLC now owns 12,056 shares of the financial services provider’s stock valued at $593,000 after acquiring an additional 243 shares during the last quarter. Finally, Waldron Private Wealth LLC grew its position in shares of U.S. Bancorp by 1.9% in the 2nd quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock valued at $534,000 after acquiring an additional 247 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction 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 in the company, valued at $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $49.90 on Monday. The company’s 50 day moving average price is $46.99 and its two-hundred day moving average price is $43.73. The firm has a market capitalization of $77.85 billion, a P/E ratio of 15.26, a P/E/G ratio of 2.94 and a beta of 1.02. U.S. Bancorp has a fifty-two week low of $36.49 and a fifty-two week high of $51.76. 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 (NYSE:USB) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter last year, the business posted $1.05 EPS. U.S. Bancorp’s revenue for the quarter was down 2.4% on a year-over-year basis. On average, equities analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

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

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend 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 (DPR) is 61.16%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on USB. Barclays raised their target price on shares of U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Stephens raised their price objective on 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. The Goldman Sachs Group decreased 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. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a report on Thursday, October 17th. Finally, DA Davidson upped their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Thirteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, U.S. Bancorp currently has a consensus rating of “Hold” and an average price target 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.