Studio Investment Management LLC Sells 2,075 Shares of U.S. Bancorp (NYSE:USB)

Studio Investment Management LLC lowered its position in U.S. Bancorp (NYSE:USB) by 5.0% during the 3rd quarter, Holdings Channel reports. The firm owned 39,828 shares of the financial services provider’s stock after selling 2,075 shares during the quarter. Studio Investment Management LLC’s holdings in U.S. Bancorp were worth $1,841,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of USB. UniSuper Management Pty Ltd grew its stake in U.S. Bancorp by 1,140.5% in the first quarter. UniSuper Management Pty Ltd now owns 20,382 shares of the financial services provider’s stock worth $911,000 after purchasing an additional 18,739 shares in the last quarter. Axxcess Wealth Management LLC boosted its position in U.S. Bancorp by 48.2% during the 1st quarter. Axxcess Wealth Management LLC now owns 30,466 shares of the financial services provider’s stock valued at $1,362,000 after acquiring an additional 9,903 shares in the last quarter. Quadrature Capital Ltd bought a new stake in U.S. Bancorp during the 1st quarter valued at $1,353,000. LRI Investments LLC bought a new stake in U.S. Bancorp during the 1st quarter valued at $262,000. Finally, BOKF NA boosted its position in U.S. Bancorp by 29.7% during the 1st quarter. BOKF NA now owns 229,955 shares of the financial services provider’s stock valued at $10,107,000 after acquiring an additional 52,684 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Wall Street Analysts Forecast Growth

USB has been the topic of several recent research reports. Barclays increased their target price on U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Robert W. Baird set a $54.00 target price on U.S. Bancorp in a research report on Thursday, October 17th. Oppenheimer increased their target price on U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Finally, 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. Thirteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $51.22.

Insider Activity at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction 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. The trade was a 16.15 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock opened at $51.39 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a twelve month low of $36.49 and a twelve month high of $52.08. The business has a 50-day moving average price of $47.48 and a 200 day moving average price of $43.96. The firm has a market cap of $80.17 billion, a PE ratio of 15.72, a P/E/G ratio of 2.97 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same quarter in the previous year, the business earned $1.05 EPS. U.S. Bancorp’s revenue for the quarter was down 2.4% compared to the same quarter last year. Sell-side analysts predict that U.S. Bancorp will post 3.93 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. Investors of record on Monday, September 30th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.89%. The ex-dividend date was Monday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s payout ratio is currently 61.16%.

U.S. Bancorp declared that its Board of Directors has authorized a stock buyback program on Thursday, September 12th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

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.