U.S. Bancorp (NYSE:USB) Shares Sold by Avidian Wealth Enterprises LLC

Avidian Wealth Enterprises LLC cut its position in U.S. Bancorp (NYSE:USB) by 22.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,349 shares of the financial services provider’s stock after selling 2,474 shares during the period. Avidian Wealth Enterprises LLC’s holdings in U.S. Bancorp were worth $382,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Focused Wealth Management Inc purchased a new stake in U.S. Bancorp in the third quarter valued at approximately $227,000. Pittenger & Anderson Inc. lifted its stake in U.S. Bancorp by 9.7% during the 3rd quarter. Pittenger & Anderson Inc. now owns 2,825 shares of the financial services provider’s stock valued at $129,000 after acquiring an additional 250 shares during the period. Moloney Securities Asset Management LLC increased its stake in shares of U.S. Bancorp by 18.3% in the third quarter. Moloney Securities Asset Management LLC now owns 46,176 shares of the financial services provider’s stock worth $2,112,000 after acquiring an additional 7,146 shares during the period. Catalyst Capital Advisors LLC purchased a new position in shares of U.S. Bancorp during the third quarter worth $164,000. Finally, QRG Capital Management Inc. lifted its position in U.S. Bancorp by 10.2% during the third quarter. QRG Capital Management Inc. now owns 80,197 shares of the financial services provider’s stock valued at $3,667,000 after purchasing an additional 7,394 shares during the period. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $49.56 on Friday. The company has a fifty day simple moving average of $46.40 and a 200-day simple moving average of $43.25. The firm has a market capitalization of $77.34 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 2.79 and a beta of 1.02. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a 52-week low of $33.61 and a 52-week high of $51.76.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data 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 net margin of 12.92% and a return on equity of 12.91%. The company had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter in the prior year, the company earned $1.05 EPS. U.S. Bancorp’s revenue was down 2.4% compared to the same quarter last year. On average, equities analysts anticipate that U.S. Bancorp will post 3.92 EPS for the current fiscal year.

U.S. Bancorp declared that its Board of Directors has approved 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 shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The business also recently disclosed 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 an increase 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 yield of 4.04%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

Insiders Place Their Bets

In other U.S. Bancorp 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 value of $1,225,750.00. Following the completion of the sale, the insider now directly owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on USB shares. Barclays lifted their price objective on U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a report on Thursday, October 17th. Wells Fargo & Company upped their price objective on U.S. Bancorp from $52.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. DA Davidson lifted their target price on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Finally, Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $54.00 to $57.00 in a report on Monday, September 30th. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $51.12.

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.