U.S. Bancorp (NYSE:USB) Shares Sold by Howe & Rusling Inc.

Howe & Rusling Inc. cut its position in U.S. Bancorp (NYSE:USB - Free Report) by 47.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,202 shares of the financial services provider's stock after selling 83,592 shares during the quarter. Howe & Rusling Inc.'s holdings in U.S. Bancorp were worth $4,216,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Redwood Wealth Management Group LLC purchased a new position in shares of U.S. Bancorp during the 2nd quarter valued at $25,000. Frazier Financial Advisors LLC increased its stake in U.S. Bancorp by 222.7% in the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider's stock worth $29,000 after acquiring an additional 441 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of U.S. Bancorp during the 2nd quarter valued at about $30,000. LRI Investments LLC purchased a new position in U.S. Bancorp in the 1st quarter worth approximately $31,000. Finally, Y.D. More Investments Ltd bought a new position in U.S. Bancorp in the second quarter valued at $33,000. Institutional investors own 77.60% of the company's stock.

Insider Buying and Selling

In related news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction that occurred 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 directly owns 129,790 shares in the company, valued at $6,363,603.70. This represents a 16.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Trading Up 0.7 %

NYSE:USB traded up $0.34 on Wednesday, reaching $50.74. 8,071,187 shares of the company's stock were exchanged, compared to its average volume of 8,353,047. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The business has a fifty day moving average of $47.21 and a 200-day moving average of $43.86. The firm has a market capitalization of $79.16 billion, a price-to-earnings ratio of 15.42, a price-to-earnings-growth ratio of 2.94 and a beta of 1.02. U.S. Bancorp has a 52-week low of $36.49 and a 52-week high of $51.76.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.99 by $0.04. The company had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The company's revenue for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the firm earned $1.05 EPS. As a group, analysts expect that U.S. Bancorp will post 3.93 earnings per share for the current year.

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

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date was Monday, September 30th. This is an increase from U.S. Bancorp's previous quarterly dividend of $0.49. U.S. Bancorp's payout ratio is currently 61.16%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on USB shares. Oppenheimer boosted their target price on U.S. Bancorp from $59.00 to $64.00 and gave the company an "outperform" rating in a research note on Tuesday, November 5th. Wells Fargo & Company raised their price objective on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Evercore ISI upped their target price on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an "in-line" rating in a research note on Wednesday, October 30th. The Goldman Sachs Group decreased their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a "neutral" rating for the company in a research note on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft downgraded U.S. Bancorp from a "buy" rating to a "hold" rating and set a $51.00 target price on the stock. in a report on Thursday, October 24th. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, U.S. Bancorp has a consensus rating of "Hold" and an average price target of $51.22.

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.