Brighton Jones LLC Decreases Position in U.S. Bancorp (NYSE:USB)

Brighton Jones LLC lessened its stake in U.S. Bancorp (NYSE:USB) by 73.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,411 shares of the financial services provider’s stock after selling 31,932 shares during the quarter. Brighton Jones LLC’s holdings in U.S. Bancorp were worth $522,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the company. McAdam LLC raised its position in shares of U.S. Bancorp by 2.5% in the third quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock valued at $389,000 after purchasing an additional 209 shares during the period. Valmark Advisers Inc. raised its holdings in U.S. Bancorp by 2.9% during the 2nd quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock valued at $346,000 after acquiring an additional 242 shares during the period. Waldron Private Wealth LLC lifted its position in shares of U.S. Bancorp by 1.9% during the second quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock worth $534,000 after acquiring an additional 247 shares in the last quarter. Naples Global Advisors LLC boosted its holdings in shares of U.S. Bancorp by 0.4% in the second quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock worth $2,624,000 after acquiring an additional 248 shares during the period. Finally, Kavar Capital Partners Group LLC grew its position in shares of U.S. Bancorp by 4.7% in the second quarter. Kavar Capital Partners Group LLC now owns 5,555 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 250 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling

In related news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction on Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the transaction, the insider now owns 129,790 shares in the company, valued at approximately $6,363,603.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on USB shares. UBS Group lifted their target price on U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Oppenheimer increased their target price on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $54.00 to $57.00 in a research report on Monday, September 30th. Finally, Wells Fargo & Company increased their price objective on U.S. Bancorp from $52.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $50.72.

U.S. Bancorp Trading Down 1.5 %

U.S. Bancorp stock opened at $47.74 on Friday. U.S. Bancorp has a 52-week low of $30.47 and a 52-week high of $50.47. The company has a market cap of $74.50 billion, a P/E ratio of 15.81, a P/E/G ratio of 3.32 and a beta of 1.03. 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 business has a 50-day simple moving average of $45.72 and a two-hundred day simple moving average of $42.81.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.04. The business had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 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 2.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.05 EPS. Analysts predict that U.S. Bancorp will post 3.86 EPS for the current year.

U.S. Bancorp announced that its Board of Directors has approved a stock repurchase program on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.50 per share. The ex-dividend date was Monday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.19%. U.S. Bancorp’s payout ratio is 66.23%.

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.