OLD National Bancorp IN Has $3.61 Million Position in U.S. Bancorp (NYSE:USB)

OLD National Bancorp IN lessened its stake in shares of U.S. Bancorp (NYSE:USB) by 9.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 79,002 shares of the financial services provider’s stock after selling 7,993 shares during the quarter. OLD National Bancorp IN’s holdings in U.S. Bancorp were worth $3,613,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Banque Cantonale Vaudoise grew its position in shares of U.S. Bancorp by 49.0% in the first quarter. Banque Cantonale Vaudoise now owns 6,034 shares of the financial services provider’s stock valued at $270,000 after purchasing an additional 1,983 shares during the last quarter. &PARTNERS bought a new position in U.S. Bancorp during the 1st quarter worth $281,000. Global Assets Advisory LLC acquired a new stake in shares of U.S. Bancorp during the first quarter worth $1,340,000. Financial Synergies Wealth Advisors Inc. bought a new stake in shares of U.S. Bancorp in the first quarter valued at about $30,000. Finally, Strategic Planning Group LLC grew its stake in shares of U.S. Bancorp by 23.9% in the first quarter. Strategic Planning Group LLC now owns 59,135 shares of the financial services provider’s stock valued at $2,643,000 after acquiring an additional 11,407 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on USB shares. StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. 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. Barclays lifted their price objective on U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday. JPMorgan Chase & Co. lowered U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price on the stock. in a report on Thursday, June 27th. Finally, UBS Group boosted their price target on U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $50.71.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $49.16 on Monday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $50.47. The firm has a market cap of $76.71 billion, a PE ratio of 16.28, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03. The firm’s fifty day moving average is $45.24 and its 200-day moving average is $42.66.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The firm had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the previous year, the business earned $1.05 EPS. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. Sell-side analysts predict that U.S. Bancorp will post 3.86 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 4.07%. U.S. Bancorp’s dividend payout ratio is presently 66.23%.

U.S. Bancorp declared that its board has initiated a stock repurchase program on Thursday, September 12th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

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.