Cable Hill Partners LLC Acquires 10,724 Shares of U.S. Bancorp (NYSE:USB)

Cable Hill Partners LLC lifted its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 40.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 37,029 shares of the financial services provider's stock after acquiring an additional 10,724 shares during the quarter. Cable Hill Partners LLC's holdings in U.S. Bancorp were worth $1,712,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in USB. Redwood Wealth Management Group LLC bought a new stake in shares of U.S. Bancorp during the second quarter worth approximately $25,000. LRI Investments LLC acquired a new position in U.S. Bancorp in the 1st quarter valued at $31,000. 1620 Investment Advisors Inc. bought a new position in U.S. Bancorp during the 2nd quarter worth $30,000. Y.D. More Investments Ltd bought a new stake in shares of U.S. Bancorp in the second quarter valued at about $33,000. Finally, Crewe Advisors LLC acquired a new position in shares of U.S. Bancorp in the first quarter valued at about $39,000. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the firm'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 transaction, the insider now owns 129,790 shares of the company's stock, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.23% of the company's stock.

U.S. Bancorp Price Performance

Shares of NYSE USB traded down $0.85 during trading hours on Thursday, reaching $50.32. 10,345,121 shares of the stock traded hands, compared to its average volume of 8,345,582. U.S. Bancorp has a 52-week low of $36.21 and a 52-week high of $51.76. The company has a market capitalization of $78.50 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 2.99 and a beta of 1.02. The company's 50-day simple moving average is $46.79 and its two-hundred day simple moving average is $43.58. 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 - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same quarter last year, the firm earned $1.05 EPS. The company's revenue was down 2.4% on a year-over-year basis. Equities research analysts forecast that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp announced that its Board of Directors has approved a share repurchase program on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to purchase up to 7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.97%. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp's dividend payout ratio (DPR) is currently 61.16%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Morgan Stanley upgraded shares of U.S. Bancorp from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $54.00 to $57.00 in a research note on Monday, September 30th. The Goldman Sachs Group cut their target price on U.S. Bancorp from $48.00 to $46.00 and set a "neutral" rating on the stock in a report on Wednesday, September 11th. Robert W. Baird set a $54.00 target price on shares of U.S. Bancorp in a report on Thursday, October 17th. StockNews.com raised shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Wednesday, July 17th. Finally, Citigroup boosted their price objective on U.S. Bancorp from $45.00 to $49.00 and gave the company a "neutral" rating in a report on Thursday, July 18th. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $51.12.

U.S. Bancorp Company 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.