Curi RMB Capital LLC Cuts Stock Holdings in U.S. Bancorp (NYSE:USB)

Curi RMB Capital LLC cut its stake in shares of U.S. Bancorp (NYSE:USB) by 2.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,732 shares of the financial services provider’s stock after selling 886 shares during the period. Curi RMB Capital LLC’s holdings in U.S. Bancorp were worth $1,360,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on USB shares. Royal Bank of Canada set a $53.00 price target on shares of U.S. Bancorp in a report on Thursday, October 17th. Barclays lifted their target price on U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Wells Fargo & Company raised their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday. Evercore ISI increased their target price on U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a report on Thursday, October 17th. Thirteen analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $51.22.

U.S. Bancorp Stock Performance

Shares of USB opened at $49.90 on Friday. 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 has a market capitalization 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. U.S. Bancorp has a 12-month low of $36.49 and a 12-month high of $51.76. The firm’s 50 day moving average is $46.88 and its 200-day moving average is $43.63.

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 for the quarter, topping the consensus estimate of $0.99 by $0.04. The business had revenue of $6.86 billion during 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 company’s revenue was down 2.4% compared to the same quarter last year. During the same period last year, the company posted $1.05 EPS. Equities research analysts anticipate that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.50 dividend. This represents a $2.00 annualized dividend 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 61.16%.

U.S. Bancorp declared that its Board of Directors has approved a stock repurchase program 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 stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the insider now owns 129,790 shares in the company, valued at approximately $6,363,603.70. This represents a 16.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.23% of the stock is owned by 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.