U.S. Bancorp (NYSE:USB) Shares Sold by Haverford Trust Co

Haverford Trust Co trimmed its holdings in shares of U.S. Bancorp (NYSE:USB) by 25.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,718 shares of the financial services provider’s stock after selling 10,234 shares during the period. Haverford Trust Co’s holdings in U.S. Bancorp were worth $1,405,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Manning & Napier Advisors LLC acquired a new position in U.S. Bancorp during the second quarter valued at approximately $20,188,000. Janus Henderson Group PLC lifted its position in 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 valued at $12,363,000 after buying an additional 16,686 shares in the last quarter. Koshinski Asset Management Inc. acquired a new position in U.S. Bancorp during the first quarter valued at approximately $732,000. Comerica Bank raised its stake in shares of U.S. Bancorp by 11.2% during the first quarter. Comerica Bank now owns 564,443 shares of the financial services provider’s stock valued at $25,231,000 after purchasing an additional 56,738 shares during the period. Finally, M&G Plc raised its stake in shares of U.S. Bancorp by 73.9% during the second quarter. M&G Plc now owns 314,241 shares of the financial services provider’s stock valued at $12,570,000 after purchasing an additional 133,498 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

USB stock opened at $51.17 on Thursday. The company has a market capitalization of $79.83 billion, a P/E ratio of 15.65, a PEG ratio of 2.99 and a beta of 1.02. The company has a 50-day simple moving average of $46.69 and a 200 day simple moving average of $43.53. U.S. Bancorp has a fifty-two week low of $35.02 and a fifty-two week high of $51.76. 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 (NYSE:USB) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the prior year, the company posted $1.05 earnings per share. The company’s quarterly revenue 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. Shareholders of record on Monday, September 30th were given a $0.50 dividend. The ex-dividend date was Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 3.91%. U.S. Bancorp’s payout ratio is 61.16%.

U.S. Bancorp announced that its board has initiated a share repurchase program on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to repurchase up to 7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

USB has been the topic of a number of analyst reports. Citigroup lifted their price objective on shares of U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Barclays lifted their price objective on shares of U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. The Goldman Sachs Group dropped their price objective on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Evercore ISI lifted their price objective on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Finally, DA Davidson lifted 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 note on Thursday, October 17th. 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 MarketBeat, U.S. Bancorp presently has a consensus rating of “Hold” and an average price target of $51.12.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction dated 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 directly owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Company 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.