U.S. Bancorp (NYSE:USB) Shares Sold by TCV Trust & Wealth Management Inc.

TCV Trust & Wealth Management Inc. lessened its holdings in shares of U.S. Bancorp (NYSE:USB) by 1.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 224,489 shares of the financial services provider’s stock after selling 3,202 shares during the period. TCV Trust & Wealth Management Inc.’s holdings in U.S. Bancorp were worth $10,266,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Manning & Napier Advisors LLC acquired a new position in U.S. Bancorp during the second quarter worth $20,188,000. Mission Wealth Management LP grew its holdings in U.S. Bancorp by 200.7% during the first quarter. Mission Wealth Management LP now owns 18,273 shares of the financial services provider’s stock worth $817,000 after acquiring an additional 12,197 shares during the period. Janus Henderson Group PLC grew its holdings in U.S. Bancorp by 6.4% during the first quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock worth $12,363,000 after acquiring an additional 16,686 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in U.S. Bancorp by 90.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 862,317 shares of the financial services provider’s stock worth $36,676,000 after acquiring an additional 409,192 shares during the period. Finally, Koshinski Asset Management Inc. acquired a new position in U.S. Bancorp during the first quarter worth $732,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

USB has been the topic of several research reports. Evercore ISI upped their target price on U.S. Bancorp from $49.00 to $51.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Stephens upped their target price on U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. The Goldman Sachs Group lowered 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. Finally, Royal Bank of Canada set a $53.00 target price on U.S. Bancorp in a report on Thursday, October 17th. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $50.72.

U.S. Bancorp Stock Performance

NYSE USB opened at $47.74 on Friday. The business’s 50-day moving average price is $45.81 and its 200 day moving average price is $42.83. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $50.47. The company has a market capitalization of $74.50 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 2.85 and a beta of 1.03. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.04. The firm had revenue of $6.86 billion for 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 firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. 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 3.9 earnings per share for the current year.

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 is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 4.19%. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 66.23%.

U.S. Bancorp announced that its Board of Directors has authorized a share 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 reacquire up to 7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the sale, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.23% of the company’s stock.

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.