Clarkston Capital Partners LLC Sells 13,079 Shares of U.S. Bancorp (NYSE:USB)

Clarkston Capital Partners LLC lessened its stake in U.S. Bancorp (NYSE:USB - Free Report) by 1.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 722,498 shares of the financial services provider's stock after selling 13,079 shares during the period. Clarkston Capital Partners LLC's holdings in U.S. Bancorp were worth $33,040,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of USB. McAdam LLC grew its stake in shares of U.S. Bancorp by 2.5% during the third quarter. McAdam LLC now owns 8,503 shares of the financial services provider's stock worth $389,000 after purchasing an additional 209 shares during the period. Covestor Ltd lifted its position in shares of U.S. Bancorp by 15.2% in the third quarter. Covestor Ltd now owns 1,741 shares of the financial services provider's stock worth $80,000 after purchasing an additional 230 shares in the last quarter. Valmark Advisers Inc. lifted its position in U.S. Bancorp by 2.9% during the 2nd quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider's stock worth $346,000 after buying an additional 242 shares in the last quarter. Phillips Wealth Planners LLC boosted its position in U.S. Bancorp by 2.1% during the third quarter. Phillips Wealth Planners LLC now owns 12,056 shares of the financial services provider's stock valued at $593,000 after purchasing an additional 243 shares during the last quarter. Finally, Waldron Private Wealth LLC grew its stake in shares of U.S. Bancorp by 1.9% in the second quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider's stock valued at $534,000 after buying an additional 247 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

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 value of $1,225,750.00. Following the sale, the insider now 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 SEC, which is available at the SEC website. 0.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on USB. DA Davidson lifted their price target on U.S. Bancorp from $49.00 to $54.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Royal Bank of Canada set a $53.00 price target on shares of U.S. Bancorp in a research report on Thursday, October 17th. Evercore ISI lifted their price objective on U.S. Bancorp from $51.00 to $54.00 and gave the company an "in-line" rating in a report on Wednesday, October 30th. Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a report on Thursday, October 17th. Finally, Stephens upped their price objective on 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. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $51.22.

U.S. Bancorp Stock Up 1.4 %

USB traded up $0.71 during trading on Monday, hitting $50.61. 6,641,359 shares of the company's stock were exchanged, compared to its average volume of 8,365,327. The stock has a market cap of $78.95 billion, a P/E ratio of 15.26, a PEG ratio of 2.94 and a beta of 1.02. 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 has a fifty-two week low of $36.49 and a fifty-two week high of $51.76. The business's 50 day moving average is $46.99 and its two-hundred day moving average is $43.73.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.04. The firm 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 business's revenue was down 2.4% compared to the same quarter last year. During the same period last year, the firm posted $1.05 EPS. As a group, equities analysts expect that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp announced that its Board of Directors has initiated a share repurchase program 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 buy up to 7% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The company also recently disclosed 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 an increase from U.S. Bancorp's previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.00 annualized dividend and a yield of 3.95%. U.S. Bancorp's dividend payout ratio is presently 61.16%.

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.