Fulton Bank N.A. Sells 1,678 Shares of U.S. Bancorp (NYSE:USB)

Fulton Bank N.A. decreased its holdings in U.S. Bancorp (NYSE:USB) by 3.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,071 shares of the financial services provider’s stock after selling 1,678 shares during the quarter. Fulton Bank N.A.’s holdings in U.S. Bancorp were worth $2,443,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Global Wealth Strategies & Associates boosted its stake in shares of U.S. Bancorp by 70.8% in the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock valued at $29,000 after buying an additional 250 shares during the period. Redwood Wealth Management Group LLC acquired a new position in U.S. Bancorp in the 2nd quarter valued at $25,000. Frazier Financial Advisors LLC lifted its position in shares of U.S. Bancorp by 222.7% during the 3rd 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 period. Y.D. More Investments Ltd acquired a new stake in shares of U.S. Bancorp during the 2nd quarter worth $33,000. Finally, Legacy Investment Solutions LLC bought a new position in shares of U.S. Bancorp in the third quarter worth $40,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insiders Place Their Bets

In related news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were 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 of the company’s stock, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on USB. Stephens increased their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a research note on Thursday, October 17th. Raymond James upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective for the company in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a report on Thursday, October 24th. Finally, Robert W. Baird set a $54.00 price objective on U.S. Bancorp in a research report on Thursday, October 17th. Eleven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $54.07.

U.S. Bancorp Trading Down 0.7 %

Shares of U.S. Bancorp stock traded down $0.34 on Wednesday, reaching $48.36. 1,956,056 shares of the company’s stock were exchanged, compared to its average volume of 5,548,417. The firm’s 50-day moving average is $50.21 and its two-hundred day moving average is $46.38. The company has a market capitalization of $75.44 billion, a P/E ratio of 14.79, a price-to-earnings-growth ratio of 3.01 and a beta of 1.05. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98.

U.S. Bancorp (NYSE:USB) last posted its quarterly 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 net margin of 12.92% and a return on equity of 12.91%. The business had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same period last year, the company posted $1.05 earnings per share. The business’s quarterly revenue was down 2.4% on a year-over-year basis. Sell-side analysts predict that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

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

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date is Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is currently 61.16%.

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.