Whittier Trust Co. Has $505,000 Holdings in U.S. Bancorp (NYSE:USB)

Whittier Trust Co. lessened its position in shares of U.S. Bancorp (NYSE:USB) by 25.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,035 shares of the financial services provider’s stock after selling 3,673 shares during the period. Whittier Trust Co.’s holdings in U.S. Bancorp were worth $505,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Global Assets Advisory LLC acquired a new position in U.S. Bancorp during the 1st quarter worth approximately $1,340,000. Brookstone Capital Management boosted its holdings in U.S. Bancorp by 2,056.5% during the first quarter. Brookstone Capital Management now owns 218,668 shares of the financial services provider’s stock worth $9,774,000 after purchasing an additional 208,528 shares during the last quarter. Lockerman Financial Group Inc. bought a new position in U.S. Bancorp in the first quarter valued at $200,000. Hengehold Capital Management LLC increased its stake in U.S. Bancorp by 0.5% in the 1st quarter. Hengehold Capital Management LLC now owns 112,845 shares of the financial services provider’s stock valued at $5,044,000 after buying an additional 593 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new stake in U.S. Bancorp during the 1st quarter worth about $323,000. 77.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on USB shares. Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $54.00 to $57.00 in a report on Monday, September 30th. Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a research report on Thursday, October 17th. The Goldman Sachs Group decreased their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Evercore ISI upped their price target on shares of U.S. Bancorp from $49.00 to $51.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. Finally, Stephens lifted their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday, October 17th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $50.71.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $48.53 on Thursday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. The firm has a market cap of $75.73 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 3.32 and a beta of 1.03. The stock’s fifty day moving average price is $45.61 and its two-hundred day moving average price is $42.77. U.S. Bancorp has a one year low of $30.47 and a one year high of $50.47.

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

U.S. Bancorp Increases Dividend

The business also recently declared 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. The ex-dividend date was Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.12%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio is currently 66.23%.

U.S. Bancorp announced that its Board of Directors has initiated a share repurchase program on Thursday, September 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 25,000 shares of the company’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 completion of the sale, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

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.