Wrapmanager Inc. Sells 2,923 Shares of U.S. Bancorp (NYSE:USB)

Wrapmanager Inc. cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 16.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,212 shares of the financial services provider’s stock after selling 2,923 shares during the period. Wrapmanager Inc.’s holdings in U.S. Bancorp were worth $696,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC bought a new position in U.S. Bancorp during the second quarter worth about $20,188,000. Janus Henderson Group PLC lifted its holdings 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 worth $12,363,000 after acquiring an additional 16,686 shares in the last quarter. Comerica Bank lifted its holdings in U.S. Bancorp by 11.2% during the first quarter. Comerica Bank now owns 564,443 shares of the financial services provider’s stock worth $25,231,000 after acquiring an additional 56,738 shares in the last quarter. M&G Plc lifted its holdings in 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 worth $12,570,000 after acquiring an additional 133,498 shares in the last quarter. Finally, UniSuper Management Pty Ltd lifted its holdings in U.S. Bancorp by 1,140.5% during the first quarter. UniSuper Management Pty Ltd now owns 20,382 shares of the financial services provider’s stock worth $911,000 after acquiring an additional 18,739 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. 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 company insiders.

U.S. Bancorp Price Performance

NYSE:USB opened at $50.61 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The stock’s 50 day moving average price is $47.10 and its two-hundred day moving average price is $43.79. The firm has a market capitalization of $78.95 billion, a price-to-earnings ratio of 15.48, a P/E/G ratio of 2.94 and a beta of 1.02. U.S. Bancorp has a 12-month low of $36.49 and a 12-month high of $51.76.

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 the consensus estimate of $0.99 by $0.04. The firm had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.05 earnings per share. On average, analysts anticipate that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp declared that its board has approved a stock repurchase 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 buy up to 7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The firm also recently disclosed 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 a positive change 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 yield of 3.95%. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

Analyst Ratings Changes

A number of analysts have recently commented on USB shares. Deutsche Bank Aktiengesellschaft lowered U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a report on Thursday, October 24th. DA Davidson boosted their price target on U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Wells Fargo & Company boosted their price target on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Friday. Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a report on Thursday, October 17th. Finally, The Goldman Sachs Group cut their price target on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Thirteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp has a consensus rating of “Hold” and an average price target of $51.22.

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.