Clarkston Capital Partners LLC Has $33.04 Million Stock Position in U.S. Bancorp (NYSE:USB)

Clarkston Capital Partners LLC reduced its holdings in shares of U.S. Bancorp (NYSE:USB) by 1.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 722,498 shares of the financial services provider’s stock after selling 13,079 shares during the quarter. Clarkston Capital Partners LLC’s holdings in U.S. Bancorp were worth $33,040,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in USB. Los Angeles Capital Management LLC increased its stake in U.S. Bancorp by 723.7% in the 3rd quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock valued at $146,864,000 after buying an additional 2,821,642 shares during the last quarter. Marshall Wace LLP increased its position in shares of U.S. Bancorp by 1,438.4% in the second quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock valued at $89,853,000 after acquiring an additional 2,116,175 shares during the last quarter. National Bank of Canada FI increased its position in shares of U.S. Bancorp by 313.8% in the second quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock valued at $105,903,000 after acquiring an additional 2,046,522 shares during the last quarter. Bridges Investment Management Inc. boosted its position in U.S. Bancorp by 1,554.3% during the third quarter. Bridges Investment Management Inc. now owns 1,503,638 shares of the financial services provider’s stock valued at $68,761,000 after purchasing an additional 1,412,743 shares during the last quarter. Finally, Cambiar Investors LLC bought a new position in U.S. Bancorp in the third quarter valued at approximately $43,619,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were 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 of the company’s stock, valued at $6,363,603.70. This trade represents a 16.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Barclays increased their price objective on U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Stephens increased their price target on shares of 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. Robert W. Baird set a $54.00 price objective on shares of U.S. Bancorp in a research note on Thursday, October 17th. The Goldman Sachs Group cut 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 research note on Wednesday, September 11th. Finally, DA Davidson boosted their price target on U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Thirteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp has a consensus rating of “Hold” and an average target price of $51.22.

U.S. Bancorp Trading Down 0.8 %

USB stock opened at $49.90 on Monday. U.S. Bancorp has a 52 week low of $36.49 and a 52 week high of $51.76. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. The company’s 50-day simple moving average is $46.99 and its 200 day simple moving average is $43.73. The company has a market capitalization of $77.85 billion, a PE ratio of 15.26, a price-to-earnings-growth ratio of 2.94 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The firm had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. The business’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.05 EPS. As a group, sell-side analysts anticipate that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp declared that its Board of Directors 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 shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors 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. Shareholders of record on Monday, September 30th were issued a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 4.01%. U.S. Bancorp’s payout ratio is currently 61.16%.

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.