Marquette Asset Management LLC Cuts Stock Holdings in U.S. Bancorp (NYSE:USB)

Marquette Asset Management LLC cut its stake in U.S. Bancorp (NYSE:USB) by 12.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,732 shares of the financial services provider’s stock after selling 250 shares during the quarter. Marquette Asset Management LLC’s holdings in U.S. Bancorp were worth $79,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in USB. Valmark Advisers Inc. boosted its holdings in U.S. Bancorp by 2.9% in 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 in the last quarter. Waldron Private Wealth LLC increased its stake in U.S. Bancorp by 1.9% in the 2nd 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 in the last quarter. Naples Global Advisors LLC raised its position in U.S. Bancorp by 0.4% during the second quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock worth $2,624,000 after acquiring an additional 248 shares during the last quarter. Kavar Capital Partners Group LLC raised its holdings in shares of U.S. Bancorp by 4.7% in the second quarter. Kavar Capital Partners Group LLC now owns 5,555 shares of the financial services provider’s stock worth $221,000 after acquiring an additional 250 shares during the last quarter. Finally, STAR Financial Bank raised its position in shares of U.S. Bancorp by 3.3% in the second quarter. STAR Financial Bank now owns 7,772 shares of the financial services provider’s stock valued at $309,000 after buying an additional 250 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Aleem Gillani acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was purchased at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $449,900. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.23% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Evercore ISI raised their price target on shares of U.S. Bancorp from $49.00 to $51.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. Jefferies Financial Group lowered their price objective on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Oppenheimer lifted their price target on U.S. Bancorp from $54.00 to $57.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. UBS Group increased their target price on shares of U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Finally, JPMorgan Chase & Co. lowered U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price on the stock. in a report on Thursday, June 27th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $48.65.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $44.26 on Wednesday. The company’s 50 day moving average is $44.46 and its 200 day moving average is $42.46. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. The company has a market cap of $69.07 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 3.06 and a beta of 1.03. 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 issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.04. The firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. U.S. Bancorp’s revenue was down 4.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.12 EPS. On average, sell-side analysts forecast that U.S. Bancorp will post 3.86 EPS for the current year.

U.S. Bancorp declared that its Board of Directors has initiated a stock repurchase plan on Thursday, September 12th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.52%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s payout ratio is presently 66.23%.

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.