U.S. Bancorp (NYSE:USB) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp decreased its holdings in shares of U.S. Bancorp (NYSE:USB) by 7.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 421,724 shares of the financial services provider’s stock after selling 33,906 shares during the period. King Luther Capital Management Corp’s holdings in U.S. Bancorp were worth $19,285,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Cornerstone Advisors LLC boosted its stake in U.S. Bancorp by 1.2% in the 3rd quarter. Cornerstone Advisors LLC now owns 83,100 shares of the financial services provider’s stock worth $3,800,000 after purchasing an additional 1,000 shares during the period. Citizens Financial Group Inc. RI increased its holdings in U.S. Bancorp by 30.7% in the third quarter. Citizens Financial Group Inc. RI now owns 26,776 shares of the financial services provider’s stock worth $1,238,000 after buying an additional 6,291 shares during the last quarter. Commerce Bank raised its holdings in shares of U.S. Bancorp by 10.5% during the 3rd quarter. Commerce Bank now owns 442,625 shares of the financial services provider’s stock valued at $20,241,000 after purchasing an additional 42,197 shares in the last quarter. Prospera Private Wealth LLC lifted its position in shares of U.S. Bancorp by 37.3% in the third quarter. Prospera Private Wealth LLC now owns 23,761 shares of the financial services provider’s stock worth $1,087,000 after buying an additional 6,450 shares during the last quarter. Finally, Premier Fund Managers Ltd bought a new stake in U.S. Bancorp during the third quarter worth approximately $6,889,000. Institutional investors own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

USB has been the topic of several research analyst reports. Wells Fargo & Company raised their price target on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Oppenheimer upped their target price on shares of U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Barclays lifted their price objective on U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Evercore ISI increased their price target on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada set a $53.00 target price on shares of U.S. Bancorp in a research report on Thursday, October 17th. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $51.22.

U.S. Bancorp Trading Up 1.3 %

Shares of NYSE:USB opened at $51.39 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The company’s 50-day moving average price is $47.48 and its two-hundred day moving average price is $43.96. The stock has a market capitalization of $80.17 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 2.97 and a beta of 1.02. U.S. Bancorp has a one year low of $36.49 and a one year high of $52.08.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 12.92% and a return on equity of 12.91%. U.S. Bancorp’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the business posted $1.05 EPS. On average, equities analysts forecast that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.50 dividend. The ex-dividend date was Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 3.89%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio is 61.16%.

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

Insider Activity

In other 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 transaction, the insider now directly 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 can be accessed through this hyperlink. 0.23% of the stock is owned by company insiders.

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.