U.S. Bancorp (NYSE:USB) Shares Sold by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. decreased its holdings in U.S. Bancorp (NYSE:USB) by 22.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 20,357 shares of the financial services provider’s stock after selling 6,021 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in U.S. Bancorp were worth $931,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Redwood Wealth Management Group LLC acquired a new position in shares of U.S. Bancorp in the 2nd quarter valued at $25,000. LRI Investments LLC acquired a new stake in U.S. Bancorp in the 1st quarter valued at approximately $31,000. Eagle Bay Advisors LLC raised its position in U.S. Bancorp by 93.2% in the first 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 during the period. 1620 Investment Advisors Inc. purchased a new position in shares of U.S. Bancorp during the second quarter worth $30,000. Finally, Y.D. More Investments Ltd acquired a new stake in shares of U.S. Bancorp in the second quarter valued at $33,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on USB shares. DA Davidson lifted their target price on U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Barclays upped their price objective on U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Royal Bank of Canada set a $53.00 price objective on U.S. Bancorp in a research report on Thursday, October 17th. UBS Group upped their price objective on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Finally, StockNews.com upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Thirteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $51.12.

Insider Buying and Selling

In other news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 129,790 shares of the company’s stock, valued at $6,363,603.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $51.04 on Tuesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a one year low of $33.61 and a one year high of $51.76. The business’s fifty day moving average price is $46.52 and its two-hundred day moving average price is $43.39. The stock has a market cap of $79.62 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 2.96 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data 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. The business had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The company’s revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.05 earnings per share. On average, analysts forecast that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.50 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 3.92%. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s dividend payout ratio is presently 61.16%.

U.S. Bancorp declared that its board has authorized a stock buyback plan on Thursday, September 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management 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.