U.S. Bancorp (NYSE:USB) Shares Sold by Texas Capital Bancshares Inc TX

Texas Capital Bancshares Inc TX lowered its position in shares of U.S. Bancorp (NYSE:USB) by 22.4% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 5,257 shares of the financial services provider’s stock after selling 1,517 shares during the quarter. Texas Capital Bancshares Inc TX’s holdings in U.S. Bancorp were worth $209,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in U.S. Bancorp by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider’s stock valued at $6,051,096,000 after acquiring an additional 502,776 shares during the period. Davis Selected Advisers grew its holdings in U.S. Bancorp by 0.3% during the second quarter. Davis Selected Advisers now owns 14,228,444 shares of the financial services provider’s stock worth $564,869,000 after acquiring an additional 43,437 shares during the period. Bank of New York Mellon Corp lifted its stake in U.S. Bancorp by 0.7% during the second 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 purchasing an additional 94,841 shares during the last quarter. Legal & General Group Plc increased its position in shares of U.S. Bancorp by 2.7% in the second quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock worth $491,364,000 after acquiring an additional 325,374 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in U.S. Bancorp by 2.9% during the 2nd quarter. Van ECK Associates Corp now owns 9,478,454 shares of the financial services provider’s stock valued at $376,295,000 after purchasing an additional 271,078 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insiders Place Their Bets

In related news, Director Aleem Gillani purchased 10,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were purchased at an average price of $44.99 per share, with a total value of $449,900.00. Following the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $449,900. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Up 0.4 %

NYSE:USB opened at $45.47 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $70.95 billion, a P/E ratio of 15.06, a P/E/G 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. The company has a fifty day moving average of $44.53 and a 200 day moving average of $42.39.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS 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 return on equity of 13.34% and a net margin of 12.55%. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.12 EPS. On average, research analysts predict that U.S. Bancorp will post 3.86 earnings per share for the current year.

U.S. Bancorp announced that its board has approved a stock buyback plan on Thursday, September 12th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

U.S. Bancorp Increases Dividend

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on USB. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Wells Fargo & Company upped their target price on shares of U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. downgraded U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective for the company. in a research report on Thursday, June 27th. The Goldman Sachs Group decreased their target price on shares of 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. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $48.00 price target on shares of U.S. Bancorp in a report on Friday, September 13th. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, U.S. Bancorp currently has an average 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.