U.S. Bancorp $USB Shares Newly Purchased by First Nebraska Trust Co

First Nebraska Trust Co bought a new position in shares of U.S. Bancorp (NYSE:USB) during the third quarter, HoldingsChannel.com reports. The firm bought 117,204 shares of the financial services provider’s stock, valued at approximately $6,770,000.

Other institutional investors also recently modified their holdings of the company. VCI Wealth Management LLC acquired a new position in U.S. Bancorp during the third quarter valued at approximately $1,858,000. GRIMES & Co WEALTH MANAGEMENT LLC increased its stake in U.S. Bancorp by 3.0% in the third quarter. GRIMES & Co WEALTH MANAGEMENT LLC now owns 91,998 shares of the financial services provider’s stock valued at $5,314,000 after purchasing an additional 2,699 shares in the last quarter. Signature Equity Partners LLC raised its holdings in U.S. Bancorp by 25.0% in the third quarter. Signature Equity Partners LLC now owns 2,361 shares of the financial services provider’s stock worth $136,000 after purchasing an additional 472 shares during the period. TSG Advice Partners LLC acquired a new stake in U.S. Bancorp in the third quarter worth $200,000. Finally, Welch Group LLC raised its holdings in U.S. Bancorp by 33.4% in the third quarter. Welch Group LLC now owns 5,344 shares of the financial services provider’s stock worth $309,000 after purchasing an additional 1,337 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. UBS Group lifted their price target on shares of U.S. Bancorp from $64.00 to $66.00 and gave the stock a “neutral” rating in a research report on Monday. TD Cowen assumed coverage on shares of U.S. Bancorp in a research report on Thursday, October 8th. They issued a “buy” rating and a $70.00 price objective for the company. DA Davidson reaffirmed a “buy” rating and set a $73.00 price objective on shares of U.S. Bancorp in a research note on Friday, October 16th. Morgan Stanley set a $68.00 price objective on U.S. Bancorp in a research note on Friday, October 16th. Finally, Raymond James Financial reduced their target price on U.S. Bancorp from $74.00 to $72.00 and set a “strong-buy” rating on the stock in a report on Tuesday, October 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, U.S. Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $69.36.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $59.84 on Wednesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.83 and a current ratio of 0.83. The company has a market capitalization of $93.24 billion, a P/E ratio of 11.67, a price-to-earnings-growth ratio of 1.15 and a beta of 1.02. The company’s 50 day moving average price is $59.80 and its two-hundred day moving average price is $58.09. U.S. Bancorp has a 52 week low of $45.02 and a 52 week high of $66.07.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, October 15th. The financial services provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.02. The firm had revenue of $8.04 billion for the quarter, compared to analyst estimates of $8 billion. U.S. Bancorp had a net margin of 18.85% and a return on equity of 13.85%. The business’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.22 earnings per share. On average, analysts expect that U.S. Bancorp will post 5.30 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.54 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.52. This represents a $2.16 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Wednesday, September 30th. U.S. Bancorp’s payout ratio is currently 42.11%.

Insider Activity at U.S. Bancorp

In related news, CEO Gunjan Kedia sold 27,267 shares of the firm’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 sale, the chief executive officer directly owned 426,262 shares in the company, valued at $26,585,960.94. This trade represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.21% of the stock is currently owned by insiders.

About U.S. Bancorp

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.