Everence Capital Management Inc. Has $630,000 Stock Holdings in U.S. Bancorp (NYSE:USB)

Everence Capital Management Inc. lessened its holdings in U.S. Bancorp (NYSE:USB) by 69.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,787 shares of the financial services provider’s stock after selling 31,290 shares during the period. Everence Capital Management Inc.’s holdings in U.S. Bancorp were worth $630,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in USB. Redwood Wealth Management Group LLC acquired a new position in shares of U.S. Bancorp in the 2nd quarter worth approximately $25,000. 1620 Investment Advisors Inc. bought a new position in shares of U.S. Bancorp during the second quarter valued at $30,000. Eagle Bay Advisors LLC boosted its stake in shares of U.S. Bancorp by 93.2% in the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 331 shares in the last quarter. LRI Investments LLC bought a new stake in shares of U.S. Bancorp in the 1st quarter worth about $31,000. Finally, Y.D. More Investments Ltd acquired a new stake in shares of U.S. Bancorp during the 2nd quarter worth about $33,000. Institutional investors own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

USB has been the topic of a number of recent analyst reports. Wells Fargo & Company boosted their price target on shares of U.S. Bancorp from $52.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group reduced their target price on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. DA Davidson raised their price target on U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Stephens boosted their price objective on 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. Finally, Royal Bank of Canada set a $53.00 target price on U.S. Bancorp in a research note on Thursday. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $50.71.

Insider Activity

In related news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the sale, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Trading Down 2.5 %

NYSE USB opened at $47.93 on Tuesday. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $50.47. The stock has a 50-day simple moving average of $45.37 and a 200 day simple moving average of $42.69. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $74.79 billion, a PE ratio of 15.87, a P/E/G ratio of 3.32 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The business had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same period last year, the company posted $1.05 EPS. U.S. Bancorp’s revenue for the quarter was down 2.4% on a year-over-year basis. Research analysts forecast that U.S. Bancorp will post 3.86 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.17%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 66.23%.

U.S. Bancorp declared that its Board of Directors has authorized a share buyback plan 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 buy up to 7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

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.