U.S. Bancorp $USB Stock: D.A. Davidson & CO. Decreases Position

D.A. Davidson & CO. trimmed its position in U.S. Bancorp (NYSE:USB) by 2.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 448,256 shares of the financial services provider’s stock after selling 9,126 shares during the period. D.A. Davidson & CO.’s holdings in U.S. Bancorp were worth $25,891,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. BOKF NA raised its holdings in U.S. Bancorp by 1.8% during the 3rd quarter. BOKF NA now owns 185,499 shares of the financial services provider’s stock worth $10,714,000 after buying an additional 3,192 shares during the period. North Dakota State Investment Board raised its holdings in U.S. Bancorp by 2.6% during the third quarter. North Dakota State Investment Board now owns 47,667 shares of the financial services provider’s stock valued at $2,753,000 after buying an additional 1,224 shares in the last quarter. North Star Investment Management Corp. grew its stake in U.S. Bancorp by 12.3% in the 3rd quarter. North Star Investment Management Corp. now owns 21,401 shares of the financial services provider’s stock valued at $1,236,000 after buying an additional 2,349 shares during the last quarter. Victory Financial Group LLC lifted its position in shares of U.S. Bancorp by 90.3% during the 3rd quarter. Victory Financial Group LLC now owns 8,283 shares of the financial services provider’s stock worth $478,000 after purchasing an additional 3,931 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in shares of U.S. Bancorp by 3.5% during the third quarter. Asset Management One Co. Ltd. now owns 747,977 shares of the financial services provider’s stock worth $43,203,000 after buying an additional 25,197 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Gunjan Kedia sold 27,267 shares of U.S. Bancorp stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the transaction, the chief executive officer owned 426,262 shares of the company’s stock, valued at $26,585,960.94. The trade was a 6.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.21% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE USB opened at $59.65 on Thursday. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.87. U.S. Bancorp has a 1 year low of $45.02 and a 1 year high of $66.07. The firm has a market capitalization of $92.93 billion, a price-to-earnings ratio of 11.63, a P/E/G ratio of 1.14 and a beta of 1.00. The firm’s 50 day simple moving average is $59.97 and its 200 day simple moving average is $57.98.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Thursday, October 15th. The financial services provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.32 by $0.02. The firm had revenue of $8.04 billion during the quarter, compared to the consensus estimate of $8 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the company earned $1.22 earnings per share. As a group, research analysts expect that U.S. Bancorp will post 5.29 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were issued a dividend of $0.54 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.52. This represents a $2.16 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Wednesday, September 30th. U.S. Bancorp’s dividend payout ratio is 42.11%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Barclays boosted their price objective on U.S. Bancorp from $67.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, July 17th. The Goldman Sachs Group reissued a “neutral” rating on shares of U.S. Bancorp in a report on Thursday, October 15th. Evercore upgraded shares of U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 price objective on the stock in a report on Monday, July 20th. DA Davidson reiterated a “buy” rating and set a $73.00 target price on shares of U.S. Bancorp in a report on Friday, October 16th. Finally, Wells Fargo & Company raised their price target on shares of U.S. Bancorp from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, U.S. Bancorp currently has an average rating of “Moderate Buy” and an average target price of $69.19.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. U.S. Bank provides banking, lending, payment, investment and wealth-management services to individuals, businesses, institutions and government entities.

The company’s consumer and business banking operations offer deposit accounts, mortgages, home-equity and consumer loans, credit cards, small-business banking and commercial lending.