Douglas Lane & Associates LLC Sells 41,364 Shares of U.S. Bancorp (NYSE:USB)

Douglas Lane & Associates LLC cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,481,162 shares of the financial services provider’s stock after selling 41,364 shares during the period. Douglas Lane & Associates LLC’s holdings in U.S. Bancorp were worth $70,844,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. State Street Corp grew its position in shares of U.S. Bancorp by 1.2% in the 3rd quarter. State Street Corp now owns 67,282,970 shares of the financial services provider’s stock valued at $3,110,115,000 after purchasing an additional 819,805 shares during the period. FMR LLC boosted its holdings in shares of U.S. Bancorp by 32.7% in the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after buying an additional 15,746,852 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of U.S. Bancorp by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock worth $2,164,350,000 after acquiring an additional 1,796,336 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of U.S. Bancorp by 1.8% during the third quarter. Geode Capital Management LLC now owns 33,086,597 shares of the financial services provider’s stock worth $1,507,616,000 after acquiring an additional 599,852 shares during the period. Finally, Legal & General Group Plc lifted its position in U.S. Bancorp by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock valued at $491,364,000 after acquiring an additional 325,374 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

USB traded down $0.11 on Wednesday, reaching $48.59. The company had a trading volume of 2,478,958 shares, compared to its average volume of 5,653,400. The company’s fifty day moving average is $50.21 and its 200 day moving average is $46.38. 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 stock has a market cap of $75.80 billion, a P/E ratio of 14.86, a P/E/G ratio of 3.01 and a beta of 1.05. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98.

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. The firm had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The company’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.05 EPS. As a group, analysts predict that U.S. Bancorp will post 3.93 earnings per share for the current fiscal 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date is Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 25,000 shares of the company’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 completion of the sale, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. This represents a 16.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Royal Bank of Canada set a $53.00 target price on U.S. Bancorp in a report on Thursday, October 17th. Stephens increased their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Compass Point boosted their target price on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Oppenheimer reduced their price target on U.S. Bancorp from $66.00 to $62.00 and set an “outperform” rating for the company in a research report on Friday, January 3rd. Finally, Barclays lifted their price objective on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Monday. Eleven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $54.07.

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.