Rockefeller Capital Management L.P. Has $14.90 Million Stock Position in U.S. Bancorp (NYSE:USB)

Rockefeller Capital Management L.P. grew its stake in U.S. Bancorp (NYSE:USB) by 26.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 325,838 shares of the financial services provider’s stock after buying an additional 68,852 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in U.S. Bancorp were worth $14,900,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Mather Group LLC. lifted its stake in U.S. Bancorp by 63.8% in the 2nd quarter. Mather Group LLC. now owns 19,855 shares of the financial services provider’s stock valued at $788,000 after acquiring an additional 7,732 shares in the last quarter. Olistico Wealth LLC bought a new stake in shares of U.S. Bancorp in the second quarter worth $45,000. Kingswood Wealth Advisors LLC boosted its holdings in U.S. Bancorp by 56.1% during the second quarter. Kingswood Wealth Advisors LLC now owns 11,668 shares of the financial services provider’s stock worth $463,000 after purchasing an additional 4,193 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in U.S. Bancorp by 0.3% during the second quarter. Park Avenue Securities LLC now owns 167,395 shares of the financial services provider’s stock worth $6,646,000 after purchasing an additional 450 shares during the last quarter. Finally, CWM LLC increased its stake in U.S. Bancorp by 8.6% in the 2nd quarter. CWM LLC now owns 159,049 shares of the financial services provider’s stock valued at $6,314,000 after buying an additional 12,570 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 1.0 %

USB stock opened at $52.76 on Tuesday. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market capitalization of $82.31 billion, a price-to-earnings ratio of 16.13, a PEG ratio of 3.14 and a beta of 1.02. The business’s fifty day moving average price is $48.44 and its two-hundred day moving average price is $44.48.

U.S. Bancorp (NYSE:USB) last released its quarterly 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 for the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. U.S. Bancorp’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period last year, the firm earned $1.05 earnings per share. On average, equities analysts anticipate that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.50 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 3.79%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s payout ratio is 61.16%.

U.S. Bancorp announced that its Board of Directors has authorized a share buyback program on Thursday, September 12th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

USB has been the subject of a number of recent research reports. Evercore ISI increased their price objective on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target for the company. in a research note on Thursday, October 24th. Citigroup upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $49.00 to $65.00 in a research note on Monday, November 25th. Oppenheimer raised their target price on shares of U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, Stephens upped their price target 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. Twelve equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $52.02.

Insiders Place Their Bets

In related news, insider Jodi L. Richard sold 25,000 shares of the company’s 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.23% of the company’s stock.

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.