Dana Investment Advisors Inc. Reduces Position in U.S. Bancorp (NYSE:USB)

Dana Investment Advisors Inc. trimmed its holdings in U.S. Bancorp (NYSE:USB) by 1.6% during the second quarter, HoldingsChannel reports. The firm owned 16,688 shares of the financial services provider’s stock after selling 279 shares during the period. Dana Investment Advisors Inc.’s holdings in U.S. Bancorp were worth $663,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Cetera Advisor Networks LLC grew its holdings in U.S. Bancorp by 0.5% in the 4th quarter. Cetera Advisor Networks LLC now owns 217,662 shares of the financial services provider’s stock valued at $9,420,000 after buying an additional 990 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in shares of U.S. Bancorp by 29.5% in the fourth quarter. 1832 Asset Management L.P. now owns 41,198 shares of the financial services provider’s stock valued at $1,783,000 after purchasing an additional 9,384 shares during the period. Public Employees Retirement Association of Colorado increased its position in U.S. Bancorp by 2,440.9% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 227,307 shares of the financial services provider’s stock worth $9,838,000 after purchasing an additional 218,361 shares during the last quarter. Exencial Wealth Advisors LLC raised its stake in U.S. Bancorp by 49.1% during the fourth quarter. Exencial Wealth Advisors LLC now owns 17,180 shares of the financial services provider’s stock worth $744,000 after purchasing an additional 5,658 shares during the period. Finally, Stephens Inc. AR boosted its holdings in U.S. Bancorp by 2.1% in the 4th quarter. Stephens Inc. AR now owns 250,024 shares of the financial services provider’s stock valued at $10,821,000 after purchasing an additional 5,225 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $43.98 on Friday. The business has a 50-day simple moving average of $44.49 and a 200-day simple moving average of $42.45. The company has a market cap of $68.63 billion, a PE ratio of 14.56, a P/E/G ratio of 3.06 and a beta of 1.03. U.S. Bancorp has a one year low of $30.47 and a one year high of $47.31. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.12 EPS. On average, equities research analysts forecast that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp announced that its Board of Directors has authorized a share repurchase plan on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.55%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Monday, September 30th. U.S. Bancorp’s payout ratio is 66.23%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani bought 10,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were acquired at an average price of $44.99 per share, with a total value of $449,900.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $449,900. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on USB shares. Jefferies Financial Group reduced their price target on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. lowered U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target on the stock. in a research note on Thursday, June 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $48.00 price target on shares of U.S. Bancorp in a report on Friday, September 13th. UBS Group boosted their price objective on shares of U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Finally, Wells Fargo & Company increased their target price on shares of U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Thursday, July 18th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $48.65.

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.