Community Bank & Trust Waco Texas Sells 250 Shares of U.S. Bancorp (NYSE:USB)

Community Bank & Trust Waco Texas decreased its position in shares of U.S. Bancorp (NYSE:USB) by 3.8% during the third quarter, Holdings Channel.com reports. The institutional investor owned 6,301 shares of the financial services provider’s stock after selling 250 shares during the quarter. Community Bank & Trust Waco Texas’ holdings in U.S. Bancorp were worth $288,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Empower Advisory Group LLC raised its stake in U.S. Bancorp by 11.3% in the third quarter. Empower Advisory Group LLC now owns 5,625 shares of the financial services provider’s stock valued at $257,000 after buying an additional 572 shares during the last quarter. Prime Capital Investment Advisors LLC grew its holdings in U.S. Bancorp by 35.7% during the third quarter. Prime Capital Investment Advisors LLC now owns 13,270 shares of the financial services provider’s stock worth $607,000 after acquiring an additional 3,491 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in U.S. Bancorp by 1.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 3,461,427 shares of the financial services provider’s stock worth $158,291,000 after acquiring an additional 63,230 shares during the period. WealthPLAN Partners LLC grew its holdings in U.S. Bancorp by 3.9% during the third quarter. WealthPLAN Partners LLC now owns 12,276 shares of the financial services provider’s stock worth $561,000 after acquiring an additional 463 shares during the period. Finally, FDx Advisors Inc. grew its holdings in U.S. Bancorp by 10.0% in the third quarter. FDx Advisors Inc. now owns 7,864 shares of the financial services provider’s stock valued at $360,000 after purchasing an additional 715 shares during the period. Institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on USB shares. UBS Group raised their target price on U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Barclays lifted their price objective on U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Stephens boosted their target price on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” 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 research report on Wednesday, July 17th. Finally, Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $54.00 to $57.00 in a report on Monday, September 30th. 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, U.S. Bancorp currently has a consensus rating of “Hold” and a consensus target price of $51.12.

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction dated Friday, October 18th. The shares were 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 of the company’s stock, valued at approximately $6,363,603.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Stock Performance

Shares of U.S. Bancorp stock opened at $50.80 on Wednesday. U.S. Bancorp has a fifty-two week low of $33.61 and a fifty-two week high of $51.76. The firm has a market cap of $79.25 billion, a P/E ratio of 15.54, a P/E/G ratio of 3.01 and a beta of 1.02. 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 firm has a 50 day simple moving average of $46.60 and a 200 day simple moving average of $43.46.

U.S. Bancorp (NYSE:USB) last announced its quarterly 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. The company had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the firm posted $1.05 earnings per share. Sell-side analysts predict that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.50 per share. 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 dividend yield of 3.94%. U.S. Bancorp’s payout ratio is currently 61.16%.

U.S. Bancorp declared that its board has initiated a share buyback program on Thursday, September 12th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

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.