Security National Bank of Sioux City Iowa IA Sells 301 Shares of U.S. Bancorp (NYSE:USB)

Security National Bank of Sioux City Iowa IA decreased its stake in shares of U.S. Bancorp (NYSE:USB) by 3.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 9,739 shares of the financial services provider’s stock after selling 301 shares during the quarter. Security National Bank of Sioux City Iowa IA’s holdings in U.S. Bancorp were worth $387,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Marshall Wace LLP grew its holdings in shares of U.S. Bancorp by 1,438.4% during the 2nd quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock worth $89,853,000 after purchasing an additional 2,116,175 shares in the last quarter. Confluence Investment Management LLC acquired a new stake in U.S. Bancorp during the first quarter worth $92,192,000. National Bank of Canada FI increased its holdings in U.S. Bancorp by 313.8% in the 2nd quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock valued at $105,903,000 after buying an additional 2,046,522 shares during the period. BNP Paribas Financial Markets raised its stake in shares of U.S. Bancorp by 88.9% in the 1st quarter. BNP Paribas Financial Markets now owns 2,331,050 shares of the financial services provider’s stock valued at $104,198,000 after buying an additional 1,097,179 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its stake in U.S. Bancorp by 16.2% during the first quarter. Clearbridge Investments LLC now owns 6,941,466 shares of the financial services provider’s stock worth $310,284,000 after purchasing an additional 967,143 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $45.47 on Friday. The firm has a fifty day moving average of $44.53 and a two-hundred day moving average of $42.39. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. The stock has a market capitalization of $70.95 billion, a price-to-earnings ratio of 15.06, a PEG ratio of 3.06 and a beta of 1.04. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $47.31.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The business had revenue of $6.87 billion during the quarter, compared to the consensus estimate of $6.81 billion. During the same quarter in the prior year, the company posted $1.12 earnings per share. The firm’s revenue was down 4.3% on a year-over-year basis. As a group, equities research analysts predict that U.S. Bancorp will post 3.86 EPS for the current year.

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 often a sign that the company’s board of directors believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.50 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date is Monday, September 30th. This represents a $2.00 annualized dividend and a yield of 4.40%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 66.23%.

Insider Activity at U.S. Bancorp

In other news, Director Aleem Gillani bought 10,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were bought at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at approximately $449,900. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on USB. 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 report on Thursday, July 18th. Citigroup increased their price target on U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Royal Bank of Canada reiterated an “outperform” rating and issued a $48.00 price objective on shares of U.S. Bancorp in a research report on Friday, September 13th. Wells Fargo & Company increased their target price on U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Finally, StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Hold” and a consensus target price of $48.18.

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.