KBC Group NV Has $10.51 Million Stake in U.S. Bancorp (NYSE:USB)

KBC Group NV cut its position in U.S. Bancorp (NYSE:USB) by 27.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 229,899 shares of the financial services provider’s stock after selling 85,249 shares during the quarter. KBC Group NV’s holdings in U.S. Bancorp were worth $10,513,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Redwood Wealth Management Group LLC bought a new stake in U.S. Bancorp during the second quarter worth $25,000. 1620 Investment Advisors Inc. acquired a new position in shares of U.S. Bancorp during the 2nd quarter worth $30,000. LRI Investments LLC bought a new stake in shares of U.S. Bancorp during the 1st quarter worth $31,000. Y.D. More Investments Ltd acquired a new stake in U.S. Bancorp in the second quarter valued at about $33,000. Finally, Crewe Advisors LLC bought a new position in U.S. Bancorp in the first quarter valued at about $39,000. Institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. The Goldman Sachs Group dropped their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Wells Fargo & Company raised their target price on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a report on Thursday, October 24th. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $54.00 to $57.00 in a report on Monday, September 30th. Finally, Robert W. Baird set a $54.00 target price on U.S. Bancorp in a report on Thursday, October 17th. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $51.22.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $49.90 on Friday. The company has a market capitalization of $77.85 billion, a PE ratio of 15.26, a P/E/G ratio of 3.02 and a beta of 1.02. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a twelve month low of $36.49 and a twelve month high of $51.76. The firm has a fifty day simple moving average of $46.99 and a 200 day simple moving average of $43.69.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate 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 analyst estimates of $6.90 billion. During the same period last year, the company posted $1.05 EPS. The business’s quarterly revenue was down 2.4% on a year-over-year basis. On average, sell-side analysts forecast that U.S. Bancorp will post 3.93 EPS for the current year.

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 given a dividend of $0.50 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.01%. U.S. Bancorp’s dividend payout ratio (DPR) is 61.16%.

U.S. Bancorp declared that its Board of Directors has initiated a stock repurchase program 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 buy up to 7% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Insider Activity

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