Barrow Hanley Mewhinney & Strauss LLC Sells 2,428,269 Shares of U.S. Bancorp (NYSE:USB)

Barrow Hanley Mewhinney & Strauss LLC trimmed its stake in shares of U.S. Bancorp (NYSE:USB) by 46.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,806,629 shares of the financial services provider’s stock after selling 2,428,269 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC’s holdings in U.S. Bancorp were worth $111,423,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Gilbert & Cook Inc. grew its stake in U.S. Bancorp by 4.0% in the 4th quarter. Gilbert & Cook Inc. now owns 15,483 shares of the financial services provider’s stock valued at $670,000 after buying an additional 593 shares during the last quarter. Aveo Capital Partners LLC increased its stake in shares of U.S. Bancorp by 5.6% during the fourth quarter. Aveo Capital Partners LLC now owns 11,167 shares of the financial services provider’s stock worth $483,000 after purchasing an additional 592 shares during the period. TrinityPoint Wealth LLC bought a new position in shares of U.S. Bancorp during the fourth quarter worth approximately $308,000. Aigen Investment Management LP acquired a new stake in U.S. Bancorp during the 4th quarter worth approximately $297,000. Finally, EverSource Wealth Advisors LLC boosted its stake in U.S. Bancorp by 8.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 3,757 shares of the financial services provider’s stock valued at $163,000 after purchasing an additional 285 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

USB has been the subject of a number of research reports. The Goldman Sachs Group dropped their target price on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Royal Bank of Canada restated an “outperform” rating and set a $48.00 target price on shares of U.S. Bancorp in a research report on Friday, September 13th. UBS Group lifted their price target on shares of U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Finally, DA Davidson increased their price target on U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $48.18.

Insider Buying and Selling at U.S. Bancorp

In other news, Director Aleem Gillani acquired 10,000 shares of the stock in a transaction dated Thursday, July 18th. The stock was bought at an average price of $44.99 per share, with a total value of $449,900.00. Following the completion of the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $449,900. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Down 1.0 %

USB opened at $46.01 on Friday. The company’s 50 day moving average is $44.39 and its 200-day moving average is $42.31. The company has a market cap of $71.80 billion, a P/E ratio of 15.24, a PEG ratio of 4.36 and a beta of 1.04. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $47.31. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. The firm had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The company’s revenue was down 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.12 earnings per share. Equities research analysts predict that U.S. Bancorp will post 3.87 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

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

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