U.S. Bancorp (NYSE:USB) Shares Sold by CENTRAL TRUST Co

CENTRAL TRUST Co lessened its position in shares of U.S. Bancorp (NYSE:USB) by 21.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 62,835 shares of the financial services provider’s stock after selling 17,596 shares during the quarter. CENTRAL TRUST Co’s holdings in U.S. Bancorp were worth $2,873,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in USB. Global Assets Advisory LLC acquired a new position in shares of U.S. Bancorp in the 1st quarter valued at $1,340,000. Fifth Third Wealth Advisors LLC purchased a new stake in shares of U.S. Bancorp in the first quarter valued at about $323,000. Cambridge Advisors Inc. boosted its stake in shares of U.S. Bancorp by 16.1% during the first quarter. Cambridge Advisors Inc. now owns 7,216 shares of the financial services provider’s stock worth $323,000 after buying an additional 1,000 shares during the period. OneAscent Wealth Management LLC increased its position in U.S. Bancorp by 0.7% in the 1st quarter. OneAscent Wealth Management LLC now owns 60,659 shares of the financial services provider’s stock valued at $2,711,000 after acquiring an additional 398 shares during the period. Finally, S.E.E.D. Planning Group LLC increased its position in U.S. Bancorp by 9.3% in the 1st quarter. S.E.E.D. Planning Group LLC now owns 187,025 shares of the financial services provider’s stock valued at $8,360,000 after acquiring an additional 15,960 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of USB opened at $48.45 on Friday. U.S. Bancorp has a 12-month low of $30.47 and a 12-month high of $50.47. The stock has a market cap of $75.60 billion, a P/E ratio of 16.04, a PEG ratio of 3.32 and a beta of 1.03. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. The company has a 50-day moving average of $45.61 and a two-hundred day moving average of $42.77.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (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 during the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the previous year, the firm posted $1.05 EPS. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. As a group, research analysts predict that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

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 of this dividend was Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.13%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio (DPR) is presently 66.23%.

U.S. Bancorp declared that its Board of Directors has initiated a stock repurchase plan on Thursday, September 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on USB shares. Robert W. Baird set a $54.00 target price on U.S. Bancorp in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a research note on Thursday. Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $54.00 to $57.00 in a research note on Monday, September 30th. Barclays increased their price target on shares of U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, UBS Group boosted their target price on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Thirteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, U.S. Bancorp presently has an average rating of “Hold” and a consensus price target of $50.72.

Insider Buying and Selling

In related news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is currently owned by company insiders.

About U.S. Bancorp

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.