Fiduciary Trust Co Sells 3,604 Shares of U.S. Bancorp (NYSE:USB)

Fiduciary Trust Co decreased its position in U.S. Bancorp (NYSE:USB) by 4.5% during the third quarter, HoldingsChannel reports. The firm owned 76,491 shares of the financial services provider’s stock after selling 3,604 shares during the quarter. Fiduciary Trust Co’s holdings in U.S. Bancorp were worth $3,498,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Redwood Wealth Management Group LLC bought a new stake in U.S. Bancorp during the second quarter valued at about $25,000. Frazier Financial Advisors LLC grew its holdings in U.S. Bancorp by 222.7% in the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after buying an additional 441 shares during the last quarter. LRI Investments LLC bought a new position in U.S. Bancorp in the 1st quarter worth approximately $31,000. 1620 Investment Advisors Inc. acquired a new position in shares of U.S. Bancorp during the second quarter worth approximately $30,000. Finally, Y.D. More Investments Ltd bought a new stake in shares of U.S. Bancorp in the second quarter valued at approximately $33,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their target price for the company from $49.00 to $65.00 in a research note on Monday. Oppenheimer upped their price target on U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective on the stock. in a research note on Thursday, October 24th. Robert W. Baird set a $54.00 price objective on U.S. Bancorp in a research note on Thursday, October 17th. Finally, Stephens upped their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Twelve equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $52.02.

U.S. Bancorp Stock Performance

USB stock opened at $53.48 on Friday. The business’s fifty day moving average is $48.30 and its 200-day moving average is $44.36. 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 company has a market cap of $83.43 billion, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 3.16 and a beta of 1.02. U.S. Bancorp has a twelve month low of $36.49 and a twelve month high of $53.98.

U.S. Bancorp (NYSE:USB) last posted 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. The company had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.05 EPS. Equities research analysts forecast that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.74%. The ex-dividend date was Monday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

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

Insider Buying and Selling

In related 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 transaction of $1,225,750.00. Following the sale, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.23% of the stock is currently owned by company insiders.

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.