Cable Hill Partners LLC Purchases 10,724 Shares of U.S. Bancorp (NYSE:USB)

Cable Hill Partners LLC raised its holdings in shares of U.S. Bancorp (NYSE:USB) by 40.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,029 shares of the financial services provider’s stock after buying an additional 10,724 shares during the period. Cable Hill Partners LLC’s holdings in U.S. Bancorp were worth $1,712,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Redwood Wealth Management Group LLC bought a new position in U.S. Bancorp in the 2nd quarter valued at $25,000. 1620 Investment Advisors Inc. purchased a new stake in U.S. Bancorp in the 2nd quarter valued at about $30,000. LRI Investments LLC bought a new position in U.S. Bancorp in the 1st quarter worth about $31,000. Y.D. More Investments Ltd purchased a new position in shares of U.S. Bancorp during the second quarter worth approximately $33,000. Finally, Crewe Advisors LLC bought a new stake in shares of U.S. Bancorp during the first quarter valued at approximately $39,000. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Up 0.8 %

NYSE USB opened at $51.17 on Thursday. U.S. Bancorp has a 12-month low of $35.02 and a 12-month high of $51.76. The company has a fifty day simple moving average of $46.69 and a two-hundred day simple moving average of $43.53. 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 stock has a market cap of $79.83 billion, a P/E ratio of 15.65, a P/E/G ratio of 2.99 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 EPS for the quarter, topping analysts’ consensus estimates 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 12.91% and a net margin of 12.92%. The firm’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.05 EPS. On average, analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current year.

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

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 issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.91%. The ex-dividend date was Monday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio is 61.16%.

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 value of $1,225,750.00. Following the completion of the transaction, the insider now owns 129,790 shares of the company’s stock, valued at $6,363,603.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.23% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Stephens upped their target price on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Royal Bank of Canada set a $53.00 target price on shares of U.S. Bancorp in a research report on Thursday, October 17th. Oppenheimer upped their price target on shares of U.S. Bancorp from $59.00 to $64.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $54.00 to $57.00 in a report on Monday, September 30th. Finally, Evercore ISI upped their target price on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Thirteen equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $51.12.

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.