Advisors Asset Management Inc. Cuts Stake in U.S. Bancorp (NYSE:USB)

Advisors Asset Management Inc. lowered its position in U.S. Bancorp (NYSE:USB) by 23.8% in 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 170,239 shares of the financial services provider’s stock after selling 53,231 shares during the quarter. Advisors Asset Management Inc.’s holdings in U.S. Bancorp were worth $7,785,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. McAdam LLC boosted 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 worth $389,000 after buying an additional 209 shares in the last quarter. Covestor Ltd boosted its stake in shares of 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 purchasing an additional 230 shares during the period. Valmark Advisers Inc. boosted its stake in shares of 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 valued at $346,000 after purchasing an additional 242 shares during the period. Phillips Wealth Planners LLC boosted its stake in shares of U.S. Bancorp by 2.1% during the third quarter. Phillips Wealth Planners LLC now owns 12,056 shares of the financial services provider’s stock valued at $593,000 after purchasing an additional 243 shares during the period. Finally, Waldron Private Wealth LLC boosted its stake in shares of U.S. Bancorp by 1.9% during the second quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock valued at $534,000 after purchasing an additional 247 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

USB has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft lowered U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective for the company. in a research note on Thursday, October 24th. Stephens increased their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Robert W. Baird set a $54.00 target price on U.S. Bancorp in a report on Thursday, October 17th. DA Davidson upped their target price on U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. 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 issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.22.

U.S. Bancorp Trading Up 0.7 %

NYSE USB opened at $50.74 on Thursday. U.S. Bancorp has a 12 month low of $36.49 and a 12 month high of $51.76. The stock has a market cap of $79.16 billion, a P/E ratio of 15.52, a P/E/G ratio of 2.94 and a beta of 1.02. The stock’s fifty day moving average price is $47.33 and its 200-day moving average price is $43.91. 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 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the prior year, the firm posted $1.05 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, equities analysts forecast that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

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 given 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 dividend yield of 3.94%. U.S. Bancorp’s dividend payout ratio (DPR) is 61.16%.

U.S. Bancorp declared that its Board of Directors has initiated a stock repurchase program on Thursday, September 12th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity at U.S. Bancorp

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 transaction of $1,225,750.00. Following the sale, the insider now directly owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.23% of the stock is currently owned by insiders.

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.