Invst LLC Sells 521 Shares of U.S. Bancorp (NYSE:USB)

Invst LLC decreased its holdings in shares of U.S. Bancorp (NYSE:USB) by 3.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,126 shares of the financial services provider’s stock after selling 521 shares during the period. Invst LLC’s holdings in U.S. Bancorp were worth $672,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in USB. Vanguard Group Inc. boosted its holdings in shares of U.S. Bancorp by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider’s stock worth $6,051,096,000 after buying an additional 502,776 shares in the last quarter. Davis Selected Advisers boosted 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 acquiring an additional 43,437 shares in the last quarter. Bank of New York Mellon Corp grew 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 worth $528,523,000 after purchasing an additional 94,841 shares during the period. 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 in the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of 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 valued at $376,295,000 after purchasing an additional 271,078 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $45.73 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $71.36 billion, a PE ratio of 15.14, a PEG ratio of 3.06 and a beta of 1.04. The stock’s 50 day moving average price is $44.54 and its 200-day moving average price is $42.40. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $47.31.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.04. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The business had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter in the previous year, the firm earned $1.12 earnings per share. The business’s revenue was down 4.3% on a year-over-year basis. On average, equities analysts anticipate that U.S. Bancorp will post 3.86 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, September 30th. This represents a $2.00 annualized dividend and a yield of 4.37%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio is presently 66.23%.

U.S. Bancorp declared that its Board of Directors has approved a share 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 often a sign that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts have recently commented on the company. DA Davidson raised their target price on U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Evercore ISI boosted their price objective on U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. UBS Group upped 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. JPMorgan Chase & Co. downgraded shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target for the company. in a research report on Thursday, June 27th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $48.00 price objective on shares of U.S. Bancorp in a report on Friday, September 13th. Twelve 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 a consensus rating of “Hold” and a consensus price target of $48.34.

Insiders Place Their Bets

In related news, Director Aleem Gillani bought 10,000 shares of U.S. Bancorp stock in a transaction dated Thursday, July 18th. The stock was purchased at an average cost of $44.99 per share, with a total value of $449,900.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $449,900. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.23% of the company’s stock.

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.