Greenleaf Trust Lowers Stock Position in U.S. Bancorp (NYSE:USB)

Greenleaf Trust lessened its holdings in U.S. Bancorp (NYSE:USB) by 15.0% during the third quarter, Holdings Channel.com reports. The firm owned 31,946 shares of the financial services provider’s stock after selling 5,618 shares during the quarter. Greenleaf Trust’s holdings in U.S. Bancorp were worth $1,461,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of USB. Valmark Advisers Inc. grew its position in shares of 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 buying an additional 242 shares during the last quarter. Waldron Private Wealth LLC grew its position in shares of U.S. Bancorp by 1.9% during the 2nd quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock valued at $534,000 after buying an additional 247 shares during the last quarter. Naples Global Advisors LLC grew its position in shares of U.S. Bancorp by 0.4% during the 2nd quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock valued at $2,624,000 after buying an additional 248 shares during the last quarter. Kavar Capital Partners Group LLC grew its position in shares of U.S. Bancorp by 4.7% during the 2nd quarter. Kavar Capital Partners Group LLC now owns 5,555 shares of the financial services provider’s stock valued at $221,000 after buying an additional 250 shares during the last quarter. Finally, STAR Financial Bank grew its position in shares of U.S. Bancorp by 3.3% during the 2nd quarter. STAR Financial Bank now owns 7,772 shares of the financial services provider’s stock valued at $309,000 after buying an additional 250 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

U.S. Bancorp Stock Up 1.0 %

Shares of NYSE:USB opened at $48.53 on Thursday. 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 company has a market cap of $75.73 billion, a PE ratio of 16.07, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $50.47. The firm has a 50 day simple moving average of $45.61 and a 200 day simple moving average of $42.77.

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

U.S. Bancorp announced that its board has initiated a share repurchase program on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy 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 announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.50 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.12%. U.S. Bancorp’s dividend payout ratio is presently 66.23%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on USB shares. Evercore ISI boosted their price objective on shares of U.S. Bancorp from $49.00 to $51.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Oppenheimer upped 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 report on Thursday, October 17th. Jefferies Financial Group decreased their target price on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Stephens upped their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, U.S. Bancorp currently has an average rating of “Hold” and an average target price of $50.71.

U.S. Bancorp 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.