U.S. Bancorp (NYSE:USB) Shares Sold by MAI Capital Management

MAI Capital Management reduced its position in shares of U.S. Bancorp (NYSE:USB) by 11.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,213 shares of the financial services provider’s stock after selling 6,714 shares during the period. MAI Capital Management’s holdings in U.S. Bancorp were worth $2,296,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of USB. Davis Selected Advisers raised its holdings in U.S. Bancorp by 0.3% in the second quarter. Davis Selected Advisers now owns 14,228,444 shares of the financial services provider’s stock valued at $564,869,000 after buying an additional 43,437 shares during the period. Bank of New York Mellon Corp raised its stake in shares of U.S. Bancorp by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,312,930 shares of the financial services provider’s stock valued at $528,523,000 after acquiring an additional 94,841 shares during the period. Legal & General Group Plc boosted its position in U.S. Bancorp by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock worth $491,364,000 after purchasing an additional 325,374 shares during the period. Van ECK Associates Corp increased its holdings in U.S. Bancorp by 3.9% in the 3rd quarter. Van ECK Associates Corp now owns 9,852,013 shares of the financial services provider’s stock valued at $478,118,000 after purchasing an additional 373,559 shares in the last quarter. Finally, Clearbridge Investments LLC raised its position in U.S. Bancorp by 0.3% in the second quarter. Clearbridge Investments LLC now owns 6,962,394 shares of the financial services provider’s stock valued at $276,407,000 after purchasing an additional 20,928 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were 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 owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.23% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on USB. Oppenheimer upped their target price on U.S. Bancorp from $59.00 to $64.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. DA Davidson increased their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Barclays lifted their price target on shares of U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Robert W. Baird set a $54.00 price objective on shares of U.S. Bancorp in a research report on Thursday, October 17th. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $51.22.

U.S. Bancorp Trading Up 0.7 %

NYSE USB opened at $50.74 on Thursday. 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 $36.49 and a one year high of $51.76. The company has a 50-day simple moving average of $47.33 and a 200-day simple moving average of $43.91. The firm has a market capitalization of $79.16 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 2.94 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. The company had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. U.S. Bancorp’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.05 earnings per share. On average, equities analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp declared that its Board of Directors has initiated a share repurchase plan on Thursday, September 12th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

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. The ex-dividend date was Monday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.94%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

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.