U.S. Bancorp (NYSE:USB) Stake Decreased by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its holdings in U.S. Bancorp (NYSE:USB) by 3.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 818,387 shares of the financial services provider’s stock after selling 28,054 shares during the quarter. Victory Capital Management Inc.’s holdings in U.S. Bancorp were worth $37,425,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. M&G Plc acquired a new stake in shares of U.S. Bancorp in the 1st quarter worth approximately $8,133,000. Intech Investment Management LLC lifted its position in U.S. Bancorp by 44.6% in the first quarter. Intech Investment Management LLC now owns 9,373 shares of the financial services provider’s stock worth $419,000 after purchasing an additional 2,889 shares during the period. Jacobi Capital Management LLC increased its position in shares of U.S. Bancorp by 4.1% during the 1st quarter. Jacobi Capital Management LLC now owns 18,563 shares of the financial services provider’s stock valued at $830,000 after purchasing an additional 738 shares during the period. Alley Investment Management Company LLC raised its stake in shares of U.S. Bancorp by 0.3% in the 1st quarter. Alley Investment Management Company LLC now owns 132,191 shares of the financial services provider’s stock worth $5,909,000 after buying an additional 396 shares in the last quarter. Finally, Lcnb Corp lifted its holdings in shares of U.S. Bancorp by 1.4% in the first quarter. Lcnb Corp now owns 62,990 shares of the financial services provider’s stock valued at $2,816,000 after buying an additional 877 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Evercore ISI lifted 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. Oppenheimer increased their target price 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. Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a research report on Thursday, October 17th. Royal Bank of Canada set a $53.00 price objective on U.S. Bancorp in a research report on Thursday, October 17th. Finally, 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. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, U.S. Bancorp has a consensus rating of “Hold” and an average target price of $51.22.

Insider Activity

In other news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 129,790 shares in the company, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Stock Performance

USB stock opened at $49.90 on Friday. The stock has a market cap of $77.85 billion, a P/E ratio of 15.26, a P/E/G ratio of 3.02 and a beta of 1.02. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a 50 day simple moving average of $46.99 and a 200 day simple moving average of $43.69. U.S. Bancorp has a 52 week low of $36.49 and a 52 week high of $51.76.

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

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.50 dividend. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s dividend payout ratio is presently 61.16%.

U.S. Bancorp announced that its Board of Directors has authorized 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 buy 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.

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.