CX Institutional Sells 4,923 Shares of U.S. Bancorp (NYSE:USB)

CX Institutional trimmed its holdings in shares of U.S. Bancorp (NYSE:USB) by 21.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,782 shares of the financial services provider’s stock after selling 4,923 shares during the quarter. CX Institutional’s holdings in U.S. Bancorp were worth $813,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Valmark Advisers Inc. lifted its holdings 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 in the last quarter. Waldron Private Wealth LLC lifted its stake in U.S. Bancorp by 1.9% during the 2nd quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock valued at $534,000 after acquiring an additional 247 shares during the period. Naples Global Advisors LLC boosted its holdings in shares of U.S. Bancorp by 0.4% during the 2nd quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock valued at $2,624,000 after acquiring an additional 248 shares during the last quarter. Kavar Capital Partners Group LLC grew its stake in shares of U.S. Bancorp by 4.7% in the second quarter. Kavar Capital Partners Group LLC now owns 5,555 shares of the financial services provider’s stock worth $221,000 after acquiring an additional 250 shares during the period. Finally, STAR Financial Bank raised its holdings in shares of U.S. Bancorp by 3.3% during the second quarter. STAR Financial Bank now owns 7,772 shares of the financial services provider’s stock valued at $309,000 after purchasing an additional 250 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

USB has been the subject of a number of research analyst reports. Oppenheimer lifted their target price on shares of U.S. Bancorp from $54.00 to $57.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Citigroup upped their price objective on U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. DA Davidson raised their target price on U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $48.00 price target on shares of U.S. Bancorp in a research report on Friday, September 13th. Finally, JPMorgan Chase & Co. downgraded shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective on the stock. in a report on Thursday, June 27th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, U.S. Bancorp has a consensus rating of “Hold” and a consensus target price of $49.14.

U.S. Bancorp Stock Performance

NYSE USB opened at $49.21 on Thursday. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $50.11. The business has a 50-day moving average price of $44.94 and a 200-day moving average price of $42.58. The firm has a market cap of $76.78 billion, a price-to-earnings ratio of 16.29, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03.

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

U.S. Bancorp announced that its Board of Directors has approved a stock repurchase program on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The business also recently announced 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. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.06%. U.S. Bancorp’s dividend payout ratio is currently 66.23%.

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.