U.S. Bancorp $USB Stock Position Lessened by D.A. Davidson & CO.

D.A. Davidson & CO. lessened its holdings in U.S. Bancorp (NYSE:USB) by 2.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 448,256 shares of the financial services provider’s stock after selling 9,126 shares during the quarter. D.A. Davidson & CO.’s holdings in U.S. Bancorp were worth $25,891,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Mufg Bank LTD. purchased a new stake in U.S. Bancorp in the second quarter worth $2,680,199,000. Bank of America Corp DE raised its holdings in U.S. Bancorp by 6.9% in the first quarter. Bank of America Corp DE now owns 15,820,033 shares of the financial services provider’s stock worth $822,800,000 after buying an additional 1,022,898 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in U.S. Bancorp by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock worth $539,232,000 after acquiring an additional 93,025 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of U.S. Bancorp during the second quarter valued at $536,457,000. Finally, First Trust Advisors LP grew its stake in shares of U.S. Bancorp by 39.9% in the first quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider’s stock worth $422,261,000 after acquiring an additional 2,314,081 shares during the period. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Down 0.2%

Shares of NYSE:USB opened at $59.65 on Thursday. U.S. Bancorp has a 1 year low of $45.02 and a 1 year high of $66.07. The business’s 50-day moving average is $59.97 and its 200 day moving average is $57.98. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.83 and a quick ratio of 0.83. The firm has a market capitalization of $92.93 billion, a P/E ratio of 11.63, a P/E/G ratio of 1.14 and a beta of 1.00.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, October 15th. The financial services provider reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.02. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The firm had revenue of $8.04 billion during the quarter, compared to the consensus estimate of $8 billion. During the same quarter in the previous year, the company posted $1.22 earnings per share. The company’s revenue was up 8.7% compared to the same quarter last year. On average, research analysts predict that U.S. Bancorp will post 5.29 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were issued a $0.54 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.52. This represents a $2.16 annualized dividend and a yield of 3.6%. U.S. Bancorp’s dividend payout ratio is 42.11%.

Analysts Set New Price Targets

Several research firms have weighed in on USB. Raymond James Financial decreased their price target on shares of U.S. Bancorp from $74.00 to $72.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, October 6th. Morgan Stanley set a $68.00 price target on U.S. Bancorp in a report on Friday, October 16th. UBS Group reduced their target price on shares of U.S. Bancorp from $66.00 to $64.00 and set a “neutral” rating on the stock in a report on Monday, October 5th. Jefferies Financial Group upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and increased their price target for the company from $60.00 to $75.00 in a report on Monday, July 6th. Finally, Wall Street Zen raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.19.

Insider Buying and Selling

In other U.S. Bancorp news, CEO Gunjan Kedia sold 27,267 shares of the company’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the completion of the transaction, the chief executive officer directly owned 426,262 shares in the company, valued at approximately $26,585,960.94. This represents a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.21% of the company’s stock.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. U.S. Bank provides banking, lending, payment, investment and wealth-management services to individuals, businesses, institutions and government entities.

The company’s consumer and business banking operations offer deposit accounts, mortgages, home-equity and consumer loans, credit cards, small-business banking and commercial lending.