ArrowMark Colorado Holdings LLC Sells 86,200 Shares of U.S. Bancorp (NYSE:USB)

ArrowMark Colorado Holdings LLC lessened its holdings in U.S. Bancorp (NYSE:USB) by 37.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 145,410 shares of the financial services provider’s stock after selling 86,200 shares during the quarter. ArrowMark Colorado Holdings LLC’s holdings in U.S. Bancorp were worth $6,650,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Mather Group LLC. increased its holdings in U.S. Bancorp by 63.8% in the second quarter. Mather Group LLC. now owns 19,855 shares of the financial services provider’s stock valued at $788,000 after purchasing an additional 7,732 shares during the last quarter. Olistico Wealth LLC bought a new position in U.S. Bancorp during the 2nd quarter worth approximately $45,000. Kingswood Wealth Advisors LLC grew its holdings in U.S. Bancorp by 56.1% during the second quarter. Kingswood Wealth Advisors LLC now owns 11,668 shares of the financial services provider’s stock valued at $463,000 after purchasing an additional 4,193 shares during the period. Park Avenue Securities LLC increased its stake in U.S. Bancorp by 0.3% in the second quarter. Park Avenue Securities LLC now owns 167,395 shares of the financial services provider’s stock valued at $6,646,000 after purchasing an additional 450 shares in the last quarter. Finally, CWM LLC raised its holdings in U.S. Bancorp by 8.6% in the second quarter. CWM LLC now owns 159,049 shares of the financial services provider’s stock worth $6,314,000 after purchasing an additional 12,570 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

USB opened at $52.76 on Tuesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. The business’s 50-day simple moving average is $48.44 and its 200 day simple moving average is $44.48. The firm has a market capitalization of $82.31 billion, a PE ratio of 16.13, a PEG ratio of 3.14 and a beta of 1.02. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The company had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the prior year, the firm posted $1.05 EPS. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, sell-side analysts expect that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

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

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.79%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s dividend payout ratio is presently 61.16%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp 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 sale, the insider now owns 129,790 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this link. 0.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on USB. DA Davidson boosted their price target on shares of 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 increased their price target on U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a research report on Thursday, October 17th. The Goldman Sachs Group decreased their price objective on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a report on Thursday, October 24th. Twelve analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Hold” and an average target price of $52.02.

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.