Axxcess Wealth Management LLC Sells 633 Shares of U.S. Bancorp (NYSE:USB)

Axxcess Wealth Management LLC cut its stake in shares of U.S. Bancorp (NYSE:USB) by 4.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,960 shares of the financial services provider’s stock after selling 633 shares during the quarter. Axxcess Wealth Management LLC’s holdings in U.S. Bancorp were worth $593,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of U.S. Bancorp by 23.6% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 233,819 shares of the financial services provider’s stock valued at $10,452,000 after buying an additional 44,624 shares during the last quarter. Koshinski Asset Management Inc. purchased a new stake in shares of U.S. Bancorp during the first quarter valued at $732,000. TBH Global Asset Management LLC purchased a new stake in shares of U.S. Bancorp during the first quarter valued at $268,000. Blair William & Co. IL boosted its position in U.S. Bancorp by 14.3% in the first quarter. Blair William & Co. IL now owns 196,913 shares of the financial services provider’s stock worth $8,802,000 after purchasing an additional 24,589 shares during the last quarter. Finally, Orion Portfolio Solutions LLC boosted its position in U.S. Bancorp by 7.9% in the first quarter. Orion Portfolio Solutions LLC now owns 133,420 shares of the financial services provider’s stock worth $5,964,000 after purchasing an additional 9,733 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insider Transactions at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the sale, the insider now directly owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Citigroup raised their target price 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. DA Davidson raised their target price on U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Royal Bank of Canada set a $53.00 target price on U.S. Bancorp in a research report on Thursday, October 17th. Evercore ISI raised their target price on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, U.S. Bancorp presently has an average rating of “Hold” and a consensus price target of $51.12.

U.S. Bancorp Stock Up 0.8 %

Shares of USB opened at $51.17 on Thursday. The business’s 50 day moving average is $46.69 and its 200 day moving average is $43.53. The company has a market capitalization of $79.83 billion, a PE ratio of 15.65, a price-to-earnings-growth ratio of 2.99 and a beta of 1.02. U.S. Bancorp has a 12-month low of $35.02 and a 12-month high of $51.76. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The company had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter last year, the company earned $1.05 EPS. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. Research analysts expect that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

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

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.91%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s dividend payout ratio is 61.16%.

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.