U.S. Bancorp (NYSE:USB) Stock Position Decreased by Citizens Business Bank

Citizens Business Bank reduced its stake in U.S. Bancorp (NYSE:USB) by 1.8% in the third quarter, HoldingsChannel.com reports. The fund owned 21,864 shares of the financial services provider’s stock after selling 406 shares during the quarter. Citizens Business Bank’s holdings in U.S. Bancorp were worth $1,000,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Lantz Financial LLC boosted its position in U.S. Bancorp by 4.7% during the 2nd quarter. Lantz Financial LLC now owns 48,116 shares of the financial services provider’s stock valued at $1,910,000 after purchasing an additional 2,179 shares during the period. Diversified Trust Co bought a new stake in U.S. Bancorp in the second quarter valued at $735,000. Cornerstone Wealth Management LLC boosted its holdings in shares of U.S. Bancorp by 12.6% during the second quarter. Cornerstone Wealth Management LLC now owns 42,570 shares of the financial services provider’s stock valued at $1,690,000 after acquiring an additional 4,780 shares during the period. AdvisorNet Financial Inc grew its position in shares of U.S. Bancorp by 6.0% during the second quarter. AdvisorNet Financial Inc now owns 10,630 shares of the financial services provider’s stock worth $422,000 after acquiring an additional 602 shares during the last quarter. Finally, Corundum Group Inc. increased its holdings in shares of U.S. Bancorp by 33.6% in the 2nd quarter. Corundum Group Inc. now owns 35,022 shares of the financial services provider’s stock worth $1,390,000 after acquiring an additional 8,808 shares during the period. 77.60% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. The trade was a 16.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on USB. Compass Point boosted their target price on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday. Deutsche Bank Aktiengesellschaft cut U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a research note on Thursday, October 24th. Wells Fargo & Company upped their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Barclays lifted their target price on U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, Evercore ISI increased their price objective on U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Twelve investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, U.S. Bancorp currently has a consensus rating of “Hold” and an average target price of $53.27.

U.S. Bancorp Price Performance

Shares of USB stock opened at $51.57 on Wednesday. U.S. Bancorp has a 1 year low of $37.81 and a 1 year high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The firm’s 50 day moving average is $49.24 and its 200-day moving average is $44.95. The firm has a market capitalization of $80.45 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 3.08 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 12.91% and a net margin of 12.92%. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.05 EPS. Sell-side analysts forecast that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp declared that its Board of Directors has initiated a share buyback 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 reacquire up to 7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.88%. U.S. Bancorp’s payout ratio is presently 61.16%.

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.