Rakuten Securities Inc. Lowers Stock Position in U.S. Bancorp (NYSE:USB)

Rakuten Securities Inc. decreased its position in U.S. Bancorp (NYSE:USB) by 18.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,429 shares of the financial services provider’s stock after selling 319 shares during the period. Rakuten Securities Inc.’s holdings in U.S. Bancorp were worth $65,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC acquired a new stake in U.S. Bancorp in the 2nd quarter valued at $20,188,000. Janus Henderson Group PLC increased its stake in shares of U.S. Bancorp by 6.4% during the first quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock worth $12,363,000 after purchasing an additional 16,686 shares in the last quarter. Koshinski Asset Management Inc. purchased a new stake in shares of U.S. Bancorp during the first quarter worth about $732,000. Comerica Bank raised its position in shares of U.S. Bancorp by 11.2% during the 1st quarter. Comerica Bank now owns 564,443 shares of the financial services provider’s stock worth $25,231,000 after purchasing an additional 56,738 shares during the last quarter. Finally, M&G Plc lifted its stake in U.S. Bancorp by 73.9% in the 2nd quarter. M&G Plc now owns 314,241 shares of the financial services provider’s stock valued at $12,570,000 after buying an additional 133,498 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on USB shares. Citigroup increased their target price on U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $54.00 to $57.00 in a research note on Monday, September 30th. Stephens lifted their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Barclays raised their price target on shares of U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Oppenheimer upped their price objective on shares of U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $51.12.

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp 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 completion of the transaction, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

USB stock opened at $50.80 on Wednesday. The business’s fifty day moving average price is $46.60 and its 200 day moving average price is $43.46. U.S. Bancorp has a 12-month low of $33.61 and a 12-month high of $51.76. 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 company has a market capitalization of $79.25 billion, a PE ratio of 15.54, a P/E/G ratio of 2.96 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results 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 business had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.05 earnings per share. On average, sell-side analysts anticipate that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.50 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.94%. U.S. Bancorp’s payout ratio is 61.16%.

U.S. Bancorp announced that its Board of Directors has authorized a share buyback plan on Thursday, September 12th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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.