Nicholas Hoffman & Company LLC. Sells 1,008 Shares of U.S. Bancorp (NYSE:USB)

Nicholas Hoffman & Company LLC. trimmed its position in U.S. Bancorp (NYSE:USB) by 3.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,878 shares of the financial services provider’s stock after selling 1,008 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in U.S. Bancorp were worth $1,183,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Marshall Wace LLP boosted its stake in U.S. Bancorp by 1,438.4% during the 2nd quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock valued at $89,853,000 after purchasing an additional 2,116,175 shares during the period. National Bank of Canada FI grew its stake in shares of U.S. Bancorp by 313.8% in the second quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock worth $105,903,000 after acquiring an additional 2,046,522 shares during the last quarter. BNP Paribas Financial Markets increased its position in U.S. Bancorp by 88.9% during the first quarter. BNP Paribas Financial Markets now owns 2,331,050 shares of the financial services provider’s stock worth $104,198,000 after acquiring an additional 1,097,179 shares during the period. Clearbridge Investments LLC raised its stake in U.S. Bancorp by 16.2% during the 1st quarter. Clearbridge Investments LLC now owns 6,941,466 shares of the financial services provider’s stock valued at $310,284,000 after purchasing an additional 967,143 shares during the last quarter. Finally, American Century Companies Inc. grew its position in U.S. Bancorp by 15.6% in the 2nd quarter. American Century Companies Inc. now owns 6,846,497 shares of the financial services provider’s stock worth $271,806,000 after purchasing an additional 925,073 shares during the last quarter. 77.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

USB has been the subject of a number of research analyst reports. Barclays increased their target price on shares of U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Jefferies Financial Group cut their target price on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Oppenheimer lifted their price target on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, UBS Group increased their price objective on shares of U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Thirteen investment 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, the company presently has a consensus rating of “Hold” and an average price target of $50.72.

Insider Transactions at U.S. Bancorp

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 completion of the sale, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $48.23 on Wednesday. The stock has a market cap of $75.26 billion, a price-to-earnings ratio of 15.97, a P/E/G ratio of 2.85 and a beta of 1.03. U.S. Bancorp has a 12-month low of $30.59 and a 12-month high of $50.47. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The business’s 50-day simple moving average is $46.00 and its 200 day simple moving average is $42.93.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same period last year, the firm earned $1.05 earnings per share. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. As a group, research analysts anticipate that U.S. Bancorp will post 3.9 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.50 dividend. The ex-dividend date of this dividend 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 yield of 4.15%. U.S. Bancorp’s dividend payout ratio (DPR) is 66.23%.

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

About U.S. Bancorp

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.