U.S. Bancorp (NYSE:USB) Holdings Decreased by Logan Capital Management Inc.

Logan Capital Management Inc. lowered its stake in U.S. Bancorp (NYSE:USB) by 4.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 239,865 shares of the financial services provider’s stock after selling 11,705 shares during the quarter. Logan Capital Management Inc.’s holdings in U.S. Bancorp were worth $10,969,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Redwood Wealth Management Group LLC bought a new stake in shares of U.S. Bancorp in the 2nd quarter worth $25,000. Frazier Financial Advisors LLC grew its holdings in U.S. Bancorp by 222.7% during the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 441 shares during the period. 1620 Investment Advisors Inc. bought a new stake in U.S. Bancorp in the second quarter worth about $30,000. Y.D. More Investments Ltd acquired a new stake in U.S. Bancorp in the 2nd quarter valued at about $33,000. Finally, Kimelman & Baird LLC bought a new position in shares of U.S. Bancorp during the 2nd quarter valued at about $40,000. Institutional investors own 77.60% of the company’s stock.

Analyst Upgrades and Downgrades

USB has been the subject of several recent research reports. Royal Bank of Canada set a $53.00 target price on shares of U.S. Bancorp in a research note on Thursday, October 17th. Wells Fargo & Company increased their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. Piper Sandler lifted their target price on U.S. Bancorp from $52.00 to $58.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Evercore ISI upped their target price on U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a report on Wednesday, October 30th. Finally, DA Davidson increased their price target on U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Twelve investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $53.27.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the 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 transaction, the insider now owns 129,790 shares in the company, valued at $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Down 0.1 %

Shares of NYSE USB traded down $0.05 during mid-day trading on Friday, reaching $51.05. The company had a trading volume of 430,220 shares, compared to its average volume of 8,195,640. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. The stock’s 50 day moving average is $49.67 and its 200-day moving average is $45.11. The stock has a market capitalization of $79.64 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 3.03 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last posted its earnings results 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. The firm had revenue of $6.86 billion during 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 company’s revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.05 earnings per share. As a group, equities analysts anticipate that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.92%. The ex-dividend date is Tuesday, December 31st. U.S. Bancorp’s payout ratio is 61.16%.

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