Arcataur Capital Management LLC Sells 3,337 Shares of U.S. Bancorp (NYSE:USB)

Arcataur Capital Management LLC decreased its position in U.S. Bancorp (NYSE:USB) by 24.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 10,503 shares of the financial services provider’s stock after selling 3,337 shares during the period. Arcataur Capital Management LLC’s holdings in U.S. Bancorp were worth $480,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of U.S. Bancorp by 0.4% in the first 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 in the last quarter. Davis Selected Advisers raised its stake 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 valued at $564,869,000 after buying an additional 43,437 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of U.S. Bancorp by 0.7% during 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 boosted its position in shares of U.S. Bancorp by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock valued at $491,364,000 after acquiring an additional 325,374 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in U.S. Bancorp by 2.9% in 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 acquiring an additional 271,078 shares during the period. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

NYSE USB traded up $0.16 during midday trading on Thursday, hitting $48.69. The company had a trading volume of 1,349,026 shares, compared to its average volume of 8,333,575. The company has a market capitalization of $75.98 billion, a PE ratio of 16.07, a P/E/G ratio of 3.32 and a beta of 1.03. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $50.47. 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 firm has a 50-day moving average price of $45.61 and a 200-day moving average price of $42.77.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The firm had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.05 earnings per share. As a group, analysts anticipate that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.11%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s payout ratio is 66.23%.

U.S. Bancorp declared that its board has authorized a stock repurchase program 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 purchase up to 7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts have commented on the stock. StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Robert W. Baird set a $54.00 price objective on U.S. Bancorp in a report on Thursday, October 17th. Oppenheimer increased their target price on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Wells Fargo & Company raised their price target on U.S. Bancorp from $52.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, DA Davidson boosted their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $50.72.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the sale, the insider now owns 129,790 shares in the company, valued at approximately $6,363,603.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp 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.