U.S. Bancorp (NYSE:USB) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its stake in U.S. Bancorp (NYSE:USB) by 3.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 818,387 shares of the financial services provider’s stock after selling 28,054 shares during the quarter. Victory Capital Management Inc. owned about 0.05% of U.S. Bancorp worth $37,425,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on USB shares. Stephens upped their target price on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective for the company. in a research report on Thursday, October 24th. Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $54.00 to $57.00 in a research note on Monday, September 30th. Oppenheimer raised their price target on shares of U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a report on Thursday, October 17th. Thirteen 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.com, the company presently has an average rating of “Hold” and a consensus price target of $51.22.

U.S. Bancorp Stock Performance

USB stock opened at $49.90 on Friday. The stock’s 50 day simple moving average is $46.99 and its 200 day simple moving average is $43.69. U.S. Bancorp has a 12-month low of $36.49 and a 12-month high of $51.76. The firm 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 current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the prior year, the company earned $1.05 earnings per share. The firm’s revenue was down 2.4% compared to the same quarter last year. As a group, equities research analysts predict that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.50 per share. The ex-dividend date was Monday, September 30th. 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 dividend yield of 4.01%. U.S. Bancorp’s dividend payout ratio is 61.16%.

U.S. Bancorp declared that its Board of Directors has initiated a stock repurchase plan on Thursday, September 12th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the business’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 transaction of $1,225,750.00. Following the completion of the transaction, the insider now owns 129,790 shares in the company, valued at $6,363,603.70. The trade was a 16.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.23% of the company’s stock.

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.