Haverford Trust Co Has $1.41 Million Position in U.S. Bancorp (NYSE:USB)

Haverford Trust Co lowered its position in U.S. Bancorp (NYSE:USB) by 25.0% during the third quarter, HoldingsChannel reports. The institutional investor owned 30,718 shares of the financial services provider’s stock after selling 10,234 shares during the period. Haverford Trust Co’s holdings in U.S. Bancorp were worth $1,405,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. McAdam LLC increased its holdings in U.S. Bancorp by 2.5% in the third quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock worth $389,000 after buying an additional 209 shares during the last quarter. Covestor Ltd grew its holdings in U.S. Bancorp by 15.2% during the third quarter. Covestor Ltd now owns 1,741 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 230 shares during the last quarter. Valmark Advisers Inc. grew its holdings in U.S. Bancorp by 2.9% during the second quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock valued at $346,000 after purchasing an additional 242 shares during the last quarter. Phillips Wealth Planners LLC grew its holdings in U.S. Bancorp by 2.1% during the third quarter. Phillips Wealth Planners LLC now owns 12,056 shares of the financial services provider’s stock valued at $593,000 after purchasing an additional 243 shares during the last quarter. Finally, Waldron Private Wealth LLC grew its holdings in 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 valued at $534,000 after purchasing an additional 247 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Buying and Selling

In other news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now directly 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 is available through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of NYSE:USB opened at $51.17 on Thursday. U.S. Bancorp has a twelve month low of $35.02 and a twelve month high of $51.76. The firm has a market cap 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. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. The business has a fifty day moving average of $46.69 and a 200-day moving average of $43.53.

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

U.S. Bancorp declared that its board has authorized a stock buyback plan on Thursday, September 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors 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. Investors of record on Monday, September 30th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.91%. This is a positive change 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%.

Wall Street Analyst Weigh In

Several equities analysts have commented on USB shares. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a report on Thursday, October 17th. Evercore ISI raised their price objective on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. UBS Group raised their price objective on shares of U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $54.00 to $57.00 in a research note on Monday, September 30th. Finally, Wells Fargo & Company raised their price objective on shares of U.S. Bancorp from $52.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $51.12.

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.