Assetmark Inc. Sells 37,756 Shares of U.S. Bancorp (NYSE:USB)

Assetmark Inc. lowered its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 27.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 97,836 shares of the financial services provider's stock after selling 37,756 shares during the period. Assetmark Inc.'s holdings in U.S. Bancorp were worth $4,474,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of USB. Redwood Wealth Management Group LLC acquired a new stake in U.S. Bancorp in the 2nd quarter valued at approximately $25,000. 1620 Investment Advisors Inc. acquired a new position in shares of U.S. Bancorp during the 2nd quarter valued at $30,000. Eagle Bay Advisors LLC increased its position in shares of U.S. Bancorp by 93.2% during the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 331 shares during the period. LRI Investments LLC acquired a new position in shares of U.S. Bancorp during the 1st quarter valued at $31,000. Finally, Y.D. More Investments Ltd acquired a new position in shares of U.S. Bancorp during the 2nd quarter valued at $33,000. Institutional investors own 77.60% of the company's stock.

Insider Transactions at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Stock Up 0.8 %

Shares of U.S. Bancorp stock traded up $0.41 during trading hours on Wednesday, reaching $51.17. 6,914,731 shares of the company's stock were exchanged, compared to its average volume of 8,339,520. U.S. Bancorp has a fifty-two week low of $35.02 and a fifty-two week high of $51.76. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The stock has a market cap of $79.83 billion, a P/E ratio of 15.70, a P/E/G ratio of 2.99 and a beta of 1.02. The company has a 50 day moving average of $46.69 and a two-hundred day moving average of $43.53.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings data 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 company had revenue of $6.86 billion for the quarter, compared to analysts' expectations of $6.90 billion. During the same quarter in the prior year, the firm earned $1.05 EPS. The business's revenue was down 2.4% on a year-over-year basis. On average, sell-side analysts forecast that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp declared that its Board of Directors has initiated a stock repurchase plan on Thursday, September 12th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.91%. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.49. U.S. Bancorp's dividend payout ratio (DPR) is presently 61.16%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on USB shares. Morgan Stanley upgraded U.S. Bancorp from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $54.00 to $57.00 in a research report on Monday, September 30th. Royal Bank of Canada set a $53.00 price objective on U.S. Bancorp in a research note on Thursday, October 17th. Evercore ISI raised their price objective on 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. StockNews.com raised U.S. Bancorp from a "sell" rating to a "hold" rating in a research report on Wednesday, July 17th. Finally, Barclays raised their target price on U.S. Bancorp from $52.00 to $57.00 and gave the stock an "overweight" rating in a research report on Thursday, October 17th. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $51.12.

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.