Community Trust & Investment Co. Buys New Position in U.S. Bancorp (NYSE:USB)

Community Trust & Investment Co. bought a new stake in shares of U.S. Bancorp (NYSE:USB) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 6,203 shares of the financial services provider’s stock, valued at approximately $284,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in 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 valued at $6,051,096,000 after purchasing an additional 502,776 shares during the period. Davis Selected Advisers lifted its position in shares of U.S. Bancorp by 0.3% in the 2nd 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 during the period. Bank of New York Mellon Corp lifted its position in shares of U.S. Bancorp by 0.7% in the 2nd 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 acquiring an additional 94,841 shares during the period. Legal & General Group Plc lifted its position in shares of U.S. Bancorp by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock worth $491,364,000 after acquiring an additional 325,374 shares during the period. Finally, Van ECK Associates Corp lifted its position in shares of U.S. Bancorp by 2.9% in the 2nd quarter. Van ECK Associates Corp now owns 9,478,454 shares of the financial services provider’s stock worth $376,295,000 after acquiring an additional 271,078 shares during the period. Institutional investors own 77.60% of the company’s stock.

Insider Transactions at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the transaction, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Stock Up 0.2 %

NYSE USB opened at $48.03 on Wednesday. The stock has a fifty day moving average of $45.48 and a 200-day moving average of $42.73. The stock has a market capitalization of $74.95 billion, a P/E ratio of 15.90, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $50.47. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.99 by $0.04. The company had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the firm earned $1.05 EPS. On average, equities research analysts forecast that U.S. Bancorp will post 3.86 EPS for the current year.

U.S. Bancorp declared that its board has initiated a stock buyback program on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.50 dividend. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 66.23%.

Analyst Ratings Changes

A number of analysts have commented on the company. Stephens raised their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Oppenheimer raised their price objective on U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Robert W. Baird set a $54.00 price objective on U.S. Bancorp in a research report on Thursday, October 17th. Citigroup raised their price objective on U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Finally, UBS Group increased their target price on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, U.S. Bancorp currently has an average rating of “Hold” and a consensus price target of $50.71.

U.S. Bancorp Company Profile

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.