Whittier Trust Co. of Nevada Inc. Has $748,000 Stake in U.S. Bancorp (NYSE:USB)

Whittier Trust Co. of Nevada Inc. reduced its stake in shares of U.S. Bancorp (NYSE:USB) by 7.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,368 shares of the financial services provider’s stock after selling 1,251 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in U.S. Bancorp were worth $748,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. Redwood Wealth Management Group LLC purchased a new position in shares of U.S. Bancorp during the 2nd quarter valued at $25,000. LRI Investments LLC purchased a new position in U.S. Bancorp in the first quarter valued at about $31,000. Eagle Bay Advisors LLC increased its position in 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 worth $31,000 after purchasing an additional 331 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of U.S. Bancorp during the 2nd quarter worth about $30,000. Finally, Y.D. More Investments Ltd acquired a new stake in shares of U.S. Bancorp during the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Evercore ISI raised their price objective on shares of U.S. Bancorp from $49.00 to $51.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Citigroup lifted their price objective on shares of U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. downgraded shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price on the stock. in a research report on Thursday, June 27th. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Wells Fargo & Company increased their price objective on U.S. Bancorp from $52.00 to $60.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, U.S. Bancorp has an average rating of “Hold” and an average target price of $50.71.

Insider Buying and Selling at U.S. Bancorp

In other 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 transaction of $1,225,750.00. Following the completion of the transaction, the insider now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE:USB opened at $48.03 on Wednesday. The firm’s 50-day moving average is $45.48 and its 200-day moving average is $42.73. The company has a market cap of $74.95 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 3.32 and a beta of 1.03. 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 has a 52-week low of $30.47 and a 52-week high of $50.47.

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

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.50 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is 66.23%.

U.S. Bancorp declared that its board has initiated a stock repurchase program on Thursday, September 12th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

About U.S. Bancorp

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.