Community Bank N.A. Reduces Holdings in U.S. Bancorp (NYSE:USB)

Community Bank N.A. trimmed its position in U.S. Bancorp (NYSE:USB) by 5.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,418 shares of the financial services provider’s stock after selling 2,725 shares during the quarter. Community Bank N.A.’s holdings in U.S. Bancorp were worth $2,076,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Redwood Wealth Management Group LLC purchased a new position in shares of U.S. Bancorp in the second quarter valued at about $25,000. Frazier Financial Advisors LLC increased its holdings in U.S. Bancorp by 222.7% during the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 441 shares during the period. 1620 Investment Advisors Inc. purchased a new position in U.S. Bancorp during the 2nd quarter valued at about $30,000. Y.D. More Investments Ltd purchased a new stake in U.S. Bancorp in the 2nd quarter worth approximately $33,000. Finally, Kimelman & Baird LLC purchased a new stake in U.S. Bancorp in the 2nd quarter worth approximately $40,000. 77.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Barclays raised their price target on U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Stephens raised their target price on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. The Goldman Sachs Group reduced their price target on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft cut U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price objective on the stock. in a research report on Thursday, October 24th. Finally, Evercore ISI increased their target price on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Twelve analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, U.S. Bancorp currently has an average rating of “Hold” and an average target price of $52.02.

U.S. Bancorp Price Performance

Shares of USB opened at $53.29 on Monday. U.S. Bancorp has a twelve month low of $37.67 and a twelve month high of $53.98. The company has a market capitalization of $83.13 billion, a P/E ratio of 16.30, a price-to-earnings-growth ratio of 3.14 and a beta of 1.02. The firm has a 50 day moving average of $48.44 and a 200 day moving average of $44.48. 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 (NYSE:USB) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The business had revenue of $6.86 billion during the quarter, compared to analyst estimates 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 company earned $1.05 EPS. As a group, equities research analysts anticipate that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.50 dividend. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 3.75%. U.S. Bancorp’s payout ratio is 61.16%.

U.S. Bancorp declared that its board has authorized a stock repurchase plan on Thursday, September 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 129,790 shares of the company’s stock, valued at $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.23% of the company’s stock.

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.