Mendota Financial Group LLC Lowers Stock Position in U.S. Bancorp (NYSE:USB)

Mendota Financial Group LLC trimmed its holdings in shares of U.S. Bancorp (NYSE:USB) by 25.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,056 shares of the financial services provider’s stock after selling 363 shares during the quarter. Mendota Financial Group LLC’s holdings in U.S. Bancorp were worth $48,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of USB. Madison Wealth Partners Inc purchased a new stake in shares of U.S. Bancorp during the fourth quarter worth about $203,000. Quarry LP purchased a new stake in U.S. Bancorp during the 4th quarter worth approximately $45,000. Covenant Partners LLC acquired a new position in U.S. Bancorp during the 4th quarter valued at approximately $597,000. Sunpointe LLC purchased a new position in shares of U.S. Bancorp in the fourth quarter worth $266,000. Finally, V Square Quantitative Management LLC lifted its stake in shares of U.S. Bancorp by 40.7% during the fourth quarter. V Square Quantitative Management LLC now owns 25,465 shares of the financial services provider’s stock worth $1,102,000 after buying an additional 7,364 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. UBS Group increased their price objective on U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Royal Bank of Canada reissued an “outperform” rating and set a $48.00 price target on shares of U.S. Bancorp in a research report on Friday, September 13th. DA Davidson upped their price objective on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. downgraded shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price for the company. in a research report on Thursday, June 27th. Finally, Wells Fargo & Company increased their price target on U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, July 18th. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $49.14.

U.S. Bancorp Price Performance

NYSE:USB opened at $46.27 on Friday. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $47.31. The stock’s fifty day moving average is $44.55 and its two-hundred day moving average is $42.51. The company has a market capitalization of $72.19 billion, a P/E ratio of 15.32, a P/E/G ratio of 3.32 and a beta of 1.03. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same period in the previous year, the firm earned $1.12 EPS. U.S. Bancorp’s revenue was down 4.3% on a year-over-year basis. Equities analysts expect that U.S. Bancorp will post 3.86 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.32%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio (DPR) is presently 66.23%.

U.S. Bancorp announced that its board has authorized a share repurchase 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 typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Aleem Gillani acquired 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were purchased at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $449,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is currently owned by corporate insiders.

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.