First National Bank of Omaha Has $7.39 Million Stake in U.S. Bancorp (NYSE:USB)

First National Bank of Omaha lowered its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 6.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 161,653 shares of the financial services provider's stock after selling 11,110 shares during the quarter. First National Bank of Omaha's holdings in U.S. Bancorp were worth $7,392,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in USB. FMR LLC raised its stake in shares of U.S. Bancorp by 32.7% during the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider's stock worth $2,922,784,000 after purchasing an additional 15,746,852 shares in the last quarter. Los Angeles Capital Management LLC raised its position in U.S. Bancorp by 723.7% during the third quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider's stock worth $146,864,000 after acquiring an additional 2,821,642 shares in the last quarter. Marshall Wace LLP raised its position in U.S. Bancorp by 1,438.4% during the second quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider's stock worth $89,853,000 after acquiring an additional 2,116,175 shares in the last quarter. National Bank of Canada FI grew its position in shares of U.S. Bancorp by 313.8% in the 2nd quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider's stock valued at $105,903,000 after acquiring an additional 2,046,522 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of U.S. Bancorp by 109.7% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,531,400 shares of the financial services provider's stock valued at $161,491,000 after acquiring an additional 1,847,000 shares during the period. 77.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

USB has been the subject of several recent analyst reports. Citigroup upgraded shares of U.S. Bancorp from a "neutral" rating to a "buy" rating and raised their target price for the company from $49.00 to $65.00 in a research note on Monday, November 25th. Wells Fargo & Company raised their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. DA Davidson boosted their target price on U.S. Bancorp from $49.00 to $54.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Barclays raised their target price on shares of U.S. Bancorp from $52.00 to $57.00 and gave the stock an "overweight" rating in a research note on Thursday, October 17th. Finally, Morgan Stanley upgraded shares of U.S. Bancorp from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $54.00 to $57.00 in a research note on Monday, September 30th. Twelve research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $52.72.

U.S. Bancorp Price Performance

USB stock traded up $0.06 during mid-day trading on Friday, hitting $52.18. The stock had a trading volume of 4,683,487 shares, compared to its average volume of 7,113,583. The firm has a fifty day simple moving average of $49.13 and a 200 day simple moving average of $44.87. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. 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 firm has a market capitalization of $81.40 billion, a P/E ratio of 15.96, a P/E/G ratio of 3.07 and a beta of 1.03.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm had revenue of $6.86 billion during the quarter, compared to analysts' expectations of $6.90 billion. During the same period in the prior year, the company earned $1.05 earnings per share. The company's quarterly revenue was down 2.4% on a year-over-year basis. As a group, research analysts forecast that U.S. Bancorp will post 3.93 EPS 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 issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 3.83%. U.S. Bancorp's payout ratio is 61.16%.

U.S. Bancorp announced that its Board of Directors has approved a share buyback 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 repurchase up to 7% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Jodi L. Richard sold 25,000 shares of the business'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 sale, the insider now owns 129,790 shares in the company, valued at $6,363,603.70. The trade was a 16.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.23% of the stock is owned by corporate insiders.

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.