Central Pacific Bank Trust Division Sells 950 Shares of U.S. Bancorp (NYSE:USB)

Central Pacific Bank Trust Division cut its stake in U.S. Bancorp (NYSE:USB) by 28.6% in the 4th quarter, Holdings Channel reports. The firm owned 2,375 shares of the financial services provider’s stock after selling 950 shares during the period. Central Pacific Bank Trust Division’s holdings in U.S. Bancorp were worth $114,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of USB. Natixis Advisors LLC lifted its holdings in U.S. Bancorp by 16.6% in the third quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock worth $18,348,000 after buying an additional 56,990 shares during the period. M&T Bank Corp raised its position in shares of U.S. Bancorp by 2.8% in the 3rd quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock worth $38,704,000 after acquiring an additional 22,803 shares in the last quarter. Hilltop Holdings Inc. lifted its stake in shares of U.S. Bancorp by 184.3% in the 3rd quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider’s stock valued at $3,214,000 after purchasing an additional 45,560 shares during the period. Point72 Asia Singapore Pte. Ltd. boosted its position in shares of U.S. Bancorp by 544.1% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,894 shares of the financial services provider’s stock valued at $635,000 after purchasing an additional 11,737 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in U.S. Bancorp by 4.4% in the third quarter. Principal Financial Group Inc. now owns 1,763,816 shares of the financial services provider’s stock worth $80,659,000 after purchasing an additional 75,104 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction that occurred 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 approximately $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Stephens boosted their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a report on Thursday, October 17th. Compass Point raised their target price on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a research report on Thursday, October 17th. Finally, Wells Fargo & Company raised their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.88.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $48.86 on Friday. The firm’s 50-day moving average price is $50.20 and its 200-day moving average price is $46.16. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98. The company has a market cap of $76.22 billion, a PE ratio of 14.94, a PEG ratio of 3.03 and a beta of 1.03. 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 (NYSE:USB) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.04. The company had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the company posted $1.05 earnings per share. As a group, analysts anticipate that U.S. Bancorp will post 3.93 EPS for the current year.

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

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend is Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

U.S. Bancorp Company Profile

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.