Douglas Lane & Associates LLC Has $70.84 Million Stock Holdings in U.S. Bancorp (NYSE:USB)

Douglas Lane & Associates LLC trimmed its position in U.S. Bancorp (NYSE:USB) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,481,162 shares of the financial services provider’s stock after selling 41,364 shares during the quarter. Douglas Lane & Associates LLC owned about 0.09% of U.S. Bancorp worth $70,844,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of USB. Natixis Advisors LLC grew its position in shares of U.S. Bancorp by 16.6% in the third quarter. Natixis Advisors LLC now owns 401,232 shares of the financial services provider’s stock valued at $18,348,000 after purchasing an additional 56,990 shares during the last quarter. M&T Bank Corp boosted its stake in U.S. Bancorp by 2.8% during the 3rd quarter. M&T Bank Corp now owns 846,344 shares of the financial services provider’s stock valued at $38,704,000 after purchasing an additional 22,803 shares during the period. Hilltop Holdings Inc. grew its holdings in U.S. Bancorp by 184.3% in the 3rd quarter. Hilltop Holdings Inc. now owns 70,283 shares of the financial services provider’s stock valued at $3,214,000 after buying an additional 45,560 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in U.S. Bancorp by 544.1% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 13,894 shares of the financial services provider’s stock worth $635,000 after buying an additional 11,737 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of U.S. Bancorp by 4.4% during the third quarter. Principal Financial Group Inc. now owns 1,763,816 shares of the financial services provider’s stock worth $80,659,000 after buying an additional 75,104 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the company from $49.00 to $65.00 in a research report on Monday, November 25th. Oppenheimer reduced their price objective on U.S. Bancorp from $66.00 to $62.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Compass Point lifted their price objective on U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Wells Fargo & Company upped their target price on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a research note on Thursday, October 24th. Eleven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $54.07.

U.S. Bancorp Price Performance

Shares of USB stock traded down $0.11 during trading hours on Wednesday, reaching $48.59. 2,478,958 shares of the company were exchanged, compared to its average volume of 5,653,400. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The stock’s fifty day moving average is $50.21 and its two-hundred day moving average is $46.38. The company has a market cap of $75.80 billion, a price-to-earnings ratio of 14.86, a P/E/G ratio of 3.01 and a beta of 1.05.

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 (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.04. The firm had revenue of $6.86 billion for the quarter, compared to the consensus estimate 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 business earned $1.05 EPS. Sell-side analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.12%. U.S. Bancorp’s payout ratio is 61.16%.

U.S. Bancorp declared that its board has authorized a stock repurchase program on Thursday, September 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the 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 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 filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp 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.