Wrapmanager Inc. Has $696,000 Stock Position in U.S. Bancorp (NYSE:USB)

Wrapmanager Inc. trimmed its holdings in shares of U.S. Bancorp (NYSE:USB) by 16.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,212 shares of the financial services provider’s stock after selling 2,923 shares during the period. Wrapmanager Inc.’s holdings in U.S. Bancorp were worth $696,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of USB. Prospera Financial Services Inc boosted its stake in U.S. Bancorp by 16.4% during the 3rd quarter. Prospera Financial Services Inc now owns 112,826 shares of the financial services provider’s stock valued at $5,160,000 after purchasing an additional 15,908 shares during the period. Meeder Asset Management Inc. boosted its stake in U.S. Bancorp by 5,823.8% during the 3rd quarter. Meeder Asset Management Inc. now owns 28,612 shares of the financial services provider’s stock valued at $1,308,000 after purchasing an additional 28,129 shares during the period. Vertex Planning Partners LLC bought a new stake in U.S. Bancorp during the 3rd quarter valued at approximately $203,000. Caprock Group LLC boosted its stake in U.S. Bancorp by 3.6% during the 3rd quarter. Caprock Group LLC now owns 46,366 shares of the financial services provider’s stock valued at $2,144,000 after purchasing an additional 1,606 shares during the period. Finally, Pathstone Holdings LLC boosted its stake in U.S. Bancorp by 0.8% during the 3rd quarter. Pathstone Holdings LLC now owns 296,594 shares of the financial services provider’s stock valued at $13,573,000 after purchasing an additional 2,300 shares during the period. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. This trade represents a 16.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Up 1.4 %

USB stock opened at $50.61 on Tuesday. The business has a fifty day moving average price of $47.10 and a 200 day moving average price of $43.79. U.S. Bancorp has a fifty-two week low of $36.49 and a fifty-two week high of $51.76. The stock has a market capitalization of $78.95 billion, a price-to-earnings ratio of 15.48, a P/E/G ratio of 2.94 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.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same period last year, the firm posted $1.05 EPS. The business’s revenue was down 2.4% on a year-over-year basis. Analysts expect that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

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

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.95%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. 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. The Goldman Sachs Group cut their price target on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a report on Thursday, October 17th. Stephens upped their price target on U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a report on Thursday, October 17th. Finally, DA Davidson upped their price target on U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating 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 stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $51.22.

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.