King Luther Capital Management Corp Has $18.09 Million Stock Position in U.S. Bancorp (NYSE:USB)

King Luther Capital Management Corp lessened its holdings in shares of U.S. Bancorp (NYSE:USB) by 30.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 455,630 shares of the financial services provider’s stock after selling 199,340 shares during the quarter. King Luther Capital Management Corp’s holdings in U.S. Bancorp were worth $18,089,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Redwood Wealth Management Group LLC bought a new position in shares of U.S. Bancorp during the 2nd quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. bought a new position in U.S. Bancorp during the first quarter worth $30,000. 1620 Investment Advisors Inc. acquired a new position in shares of U.S. Bancorp in the second quarter valued at $30,000. Eagle Bay Advisors LLC raised its position in shares of 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. Finally, LRI Investments LLC acquired a new stake in shares of U.S. Bancorp during the 1st quarter worth about $31,000. Institutional investors own 77.60% of the company’s stock.

Insider Activity

In other U.S. Bancorp news, Director Aleem Gillani purchased 10,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The stock was purchased at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $449,900. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Stock Performance

Shares of NYSE:USB opened at $46.01 on Friday. The company’s 50 day simple moving average is $44.39 and its 200 day simple moving average is $42.32. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. U.S. Bancorp has a 1 year low of $30.47 and a 1 year high of $47.31. The stock has a market capitalization of $71.80 billion, a price-to-earnings ratio of 15.24, a price-to-earnings-growth ratio of 4.36 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.04. The business had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. U.S. Bancorp’s revenue was down 4.3% compared to the same quarter last year. During the same period last year, the firm posted $1.12 earnings per share. As a group, research analysts predict that U.S. Bancorp will post 3.87 EPS for the current fiscal year.

U.S. Bancorp announced that its Board of Directors has authorized a share buyback program on Thursday, September 12th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.50 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 4.35%. The ex-dividend date is Monday, September 30th. U.S. Bancorp’s payout ratio is 66.23%.

Analyst Ratings Changes

A number of research analysts recently commented on USB shares. StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. The Goldman Sachs Group decreased their target price on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Citigroup lifted their price target on U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Morgan Stanley upped their price objective on U.S. Bancorp from $47.00 to $54.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Finally, UBS Group lifted their target price on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Hold” and an average price target of $48.18.

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.