Curi RMB Capital LLC Sells 886 Shares of U.S. Bancorp (NYSE:USB)

Curi RMB Capital LLC decreased its holdings in U.S. Bancorp (NYSE:USB) by 2.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,732 shares of the financial services provider’s stock after selling 886 shares during the quarter. Curi RMB Capital LLC’s holdings in U.S. Bancorp were worth $1,360,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Redwood Wealth Management Group LLC acquired a new position in U.S. Bancorp in the second quarter valued at about $25,000. LRI Investments LLC bought a new stake in U.S. Bancorp during the 1st quarter worth about $31,000. 1620 Investment Advisors Inc. acquired a new position in U.S. Bancorp in the second quarter valued at approximately $30,000. Y.D. More Investments Ltd bought a new position in shares of U.S. Bancorp in the 2nd quarter worth $33,000. Finally, Crewe Advisors LLC acquired a new stake in shares of U.S. Bancorp during the first quarter worth $39,000. 77.60% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $54.00 to $57.00 in a report on Monday, September 30th. Robert W. Baird set a $54.00 target price on shares of U.S. Bancorp in a research note on Thursday, October 17th. Barclays boosted their price target on shares of U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Oppenheimer raised their target price on shares of U.S. Bancorp from $59.00 to $64.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Finally, Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a research report on Thursday, October 17th. Thirteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $51.22.

U.S. Bancorp Stock Down 0.8 %

Shares of USB stock opened at $49.90 on Friday. U.S. Bancorp has a 52-week low of $36.49 and a 52-week high of $51.76. The stock has a market cap of $77.85 billion, a price-to-earnings ratio of 15.26, a PEG ratio of 3.02 and a beta of 1.02. The firm’s 50-day moving average is $46.88 and its 200-day moving average is $43.63. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same period last year, the firm posted $1.05 earnings per share. The business’s revenue was down 2.4% on a year-over-year basis. Sell-side analysts predict that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.01%. The ex-dividend date was Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio (DPR) is currently 61.16%.

U.S. Bancorp announced that its Board of Directors has initiated a share 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 reacquire up to 7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction 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 owns 129,790 shares in the company, valued at $6,363,603.70. This trade represents a 16.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is owned by company insiders.

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.