U.S. Bancorp (NYSE:USB) Shares Sold by Indiana Trust & Investment Management Co

Indiana Trust & Investment Management Co lessened its stake in U.S. Bancorp (NYSE:USB) by 13.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,974 shares of the financial services provider’s stock after selling 619 shares during the period. Indiana Trust & Investment Management Co’s holdings in U.S. Bancorp were worth $182,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in USB. Brookstone Capital Management boosted its position in U.S. Bancorp by 2,056.5% during the first quarter. Brookstone Capital Management now owns 218,668 shares of the financial services provider’s stock worth $9,774,000 after acquiring an additional 208,528 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in U.S. Bancorp in the second quarter valued at approximately $20,188,000. Mission Wealth Management LP raised its position in U.S. Bancorp by 200.7% in the 1st quarter. Mission Wealth Management LP now owns 18,273 shares of the financial services provider’s stock valued at $817,000 after purchasing an additional 12,197 shares during the last quarter. Janus Henderson Group PLC increased its stake in U.S. Bancorp by 6.4% in the first quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock valued at $12,363,000 after purchasing an additional 16,686 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in U.S. Bancorp by 90.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 862,317 shares of the financial services provider’s stock worth $36,676,000 after acquiring an additional 409,192 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at U.S. Bancorp

In other news, Director Aleem Gillani acquired 10,000 shares of the stock in a transaction on Thursday, July 18th. The shares were purchased at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $449,900. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Price Performance

Shares of U.S. Bancorp stock traded up $2.17 during midday trading on Wednesday, reaching $49.17. The company had a trading volume of 13,353,974 shares, compared to its average volume of 8,266,970. The stock has a fifty day simple moving average of $44.78 and a 200 day simple moving average of $42.53. The company has a market capitalization of $76.73 billion, a price-to-earnings ratio of 16.57, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $50.11. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The firm had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.81 billion. During the same quarter in the previous year, the business earned $1.12 EPS. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, equities research analysts forecast that U.S. Bancorp will post 3.86 earnings per share for the current year.

U.S. Bancorp announced that its board has authorized a stock repurchase plan on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to purchase up to 7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The business 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 represents a $2.00 dividend on an annualized basis and a dividend yield of 4.07%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio is currently 66.23%.

Analysts Set New Price Targets

Several research firms have issued reports on USB. The Goldman Sachs Group dropped their target price on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $54.00 to $57.00 in a report on Monday, September 30th. DA Davidson lifted their price target on U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Evercore ISI upped their price target on shares of U.S. Bancorp from $49.00 to $51.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. Finally, Oppenheimer lifted their price objective on shares of U.S. Bancorp from $54.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Twelve analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Hold” and a consensus price target of $49.14.

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.