4,456 Shares in U.S. Bancorp (NYSE:USB) Acquired by Trueblood Wealth Management LLC

Trueblood Wealth Management LLC acquired a new stake in U.S. Bancorp (NYSE:USB) during the third quarter, HoldingsChannel.com reports. The fund acquired 4,456 shares of the financial services provider’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors have also modified their holdings of USB. Vanguard Group Inc. raised its stake in U.S. Bancorp by 0.4% in the first quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider’s stock valued at $6,051,096,000 after buying an additional 502,776 shares in the last quarter. Davis Selected Advisers lifted its stake in U.S. Bancorp by 0.3% during the second quarter. Davis Selected Advisers now owns 14,228,444 shares of the financial services provider’s stock worth $564,869,000 after purchasing an additional 43,437 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in U.S. Bancorp by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 13,312,930 shares of the financial services provider’s stock valued at $528,523,000 after purchasing an additional 94,841 shares in the last quarter. Legal & General Group Plc increased its stake in U.S. Bancorp by 2.7% in the second quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock valued at $491,364,000 after purchasing an additional 325,374 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in U.S. Bancorp by 2.9% during the second quarter. Van ECK Associates Corp now owns 9,478,454 shares of the financial services provider’s stock worth $376,295,000 after purchasing an additional 271,078 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the firm’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 value of $1,225,750.00. Following the completion of the transaction, the insider now directly owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Down 1.5 %

USB opened at $47.74 on Friday. The business has a 50 day simple moving average of $45.81 and a 200-day simple moving average of $42.83. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $50.47. The stock has a market capitalization of $74.50 billion, a P/E ratio of 14.60, a P/E/G ratio of 2.85 and a beta of 1.03. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last issued 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. The company had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business’s revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.05 EPS. On average, equities analysts anticipate that U.S. Bancorp will post 3.9 earnings per share for the current fiscal year.

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 shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.19%. 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. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on USB shares. 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 report on Thursday. Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a research note on Thursday, October 17th. Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Robert W. Baird set a $54.00 target price on U.S. Bancorp in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group cut their price target on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Thirteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $50.72.

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.