First National Bank Sioux Falls Acquires 262 Shares of U.S. Bancorp (NYSE:USB)

First National Bank Sioux Falls grew its holdings in shares of U.S. Bancorp (NYSE:USB) by 6.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,407 shares of the financial services provider’s stock after buying an additional 262 shares during the quarter. First National Bank Sioux Falls’ holdings in U.S. Bancorp were worth $243,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of USB. Manchester Financial Inc. bought a new stake in shares of U.S. Bancorp in the 2nd quarter valued at about $30,000. Lenox Wealth Advisors LLC bought a new stake in shares of U.S. Bancorp in the 3rd quarter valued at about $33,000. Hillsdale Investment Management Inc. bought a new stake in shares of U.S. Bancorp in the 2nd quarter valued at about $37,000. Prime Capital Investment Advisors LLC raised its holdings in shares of U.S. Bancorp by 174.0% in the 2nd quarter. Prime Capital Investment Advisors LLC now owns 707 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 449 shares during the period. Finally, Old North State Trust LLC raised its holdings in shares of U.S. Bancorp by 99.1% in the 3rd quarter. Old North State Trust LLC now owns 667 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 332 shares during the period. 75.49% of the stock is currently owned by hedge funds and other institutional investors.

In other U.S. Bancorp news, EVP Mark G. Runkel sold 10,986 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $57.32, for a total transaction of $629,717.52. Following the transaction, the executive vice president now owns 45,213 shares in the company, valued at approximately $2,591,609.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David B. Omaley sold 10,133 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $55.76, for a total transaction of $565,016.08. Following the transaction, the director now owns 191,754 shares in the company, valued at approximately $10,692,203.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,547 shares of company stock worth $2,862,231. Insiders own 0.24% of the company’s stock.

A number of brokerages have recently issued reports on USB. Deutsche Bank set a $59.00 target price on shares of U.S. Bancorp and gave the company a “hold” rating in a report on Friday, July 26th. Morgan Stanley upped their target price on shares of U.S. Bancorp from $55.00 to $56.00 and gave the company an “underweight” rating in a report on Thursday, July 18th. JPMorgan Chase & Co. raised shares of U.S. Bancorp from an “underweight” rating to a “neutral” rating and upped their target price for the company from $52.50 to $57.00 in a report on Wednesday, July 31st. UBS Group upped their target price on shares of U.S. Bancorp from $55.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Finally, Bank of America cut shares of U.S. Bancorp from a “neutral” rating to an “underperform” rating and dropped their target price for the company from $55.00 to $53.00 in a report on Monday, September 30th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company. U.S. Bancorp currently has a consensus rating of “Hold” and a consensus target price of $56.31.

U.S. Bancorp stock traded up $0.74 during trading hours on Friday, hitting $53.76. The company had a trading volume of 159,211 shares, compared to its average volume of 5,532,521. The firm has a market cap of $85.02 billion, a PE ratio of 13.14, a PEG ratio of 2.03 and a beta of 1.10. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.84 and a quick ratio of 0.83. U.S. Bancorp has a one year low of $43.14 and a one year high of $57.81. The firm has a 50-day moving average of $53.90 and a 200 day moving average of $52.64.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.02. The firm had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.73 billion. U.S. Bancorp had a net margin of 26.70% and a return on equity of 15.45%. The business’s revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.02 EPS. As a group, research analysts expect that U.S. Bancorp will post 4.3 earnings per share for the current year.

U.S. Bancorp declared that its Board of Directors has initiated a share buyback program on Thursday, June 27th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the financial services provider to buy up to 3.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.42 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.37. This represents a $1.68 annualized dividend and a yield of 3.13%. The ex-dividend date is Friday, September 27th. U.S. Bancorp’s dividend payout ratio is currently 40.98%.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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