U.S. Bancorp (NYSE:USB) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. lowered its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 33.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,508 shares of the financial services provider's stock after selling 18,020 shares during the period. iA Global Asset Management Inc.'s holdings in U.S. Bancorp were worth $1,670,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Lantz Financial LLC lifted its stake in shares of U.S. Bancorp by 4.7% in the second quarter. Lantz Financial LLC now owns 48,116 shares of the financial services provider's stock worth $1,910,000 after buying an additional 2,179 shares in the last quarter. Wedmont Private Capital lifted its position in U.S. Bancorp by 12.4% during the second quarter. Wedmont Private Capital now owns 18,109 shares of the financial services provider's stock valued at $762,000 after purchasing an additional 1,991 shares during the period. M&G Plc lifted its position in U.S. Bancorp by 73.9% during the second quarter. M&G Plc now owns 314,241 shares of the financial services provider's stock valued at $12,570,000 after purchasing an additional 133,498 shares during the period. Diversified Trust Co bought a new position in U.S. Bancorp during the second quarter valued at approximately $735,000. Finally, Great Valley Advisor Group Inc. lifted its position in U.S. Bancorp by 8.2% during the second quarter. Great Valley Advisor Group Inc. now owns 114,525 shares of the financial services provider's stock valued at $4,547,000 after purchasing an additional 8,679 shares during the period. Institutional investors own 77.60% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on USB shares. Stephens increased their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an "equal weight" rating in a research report on Thursday, October 17th. Robert W. Baird set a $54.00 target price on shares of U.S. Bancorp in a report on Thursday, October 17th. Citigroup raised shares of U.S. Bancorp from a "neutral" rating to a "buy" rating and upped their target price for the company from $49.00 to $65.00 in a report on Monday, November 25th. The Goldman Sachs Group reduced 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 report on Wednesday, September 11th. Finally, Deutsche Bank Aktiengesellschaft cut shares of U.S. Bancorp from a "buy" rating to a "hold" rating and set a $51.00 target price for the company. in a report on Thursday, October 24th. Twelve analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $52.72.

U.S. Bancorp Stock Down 1.6 %

NYSE USB traded down $0.84 during trading on Monday, reaching $51.34. 5,414,935 shares of the company's stock traded hands, compared to its average volume of 8,241,227. The company's 50 day simple moving average is $49.24 and its two-hundred day simple moving average is $44.95. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The firm has a market cap of $80.08 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 3.08 and a beta of 1.03. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81.

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 firm had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.90 billion. During the same period in the prior year, the firm posted $1.05 earnings per share. The firm's quarterly revenue was down 2.4% compared to the same quarter last year. As a group, sell-side analysts forecast that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.50 per share. The ex-dividend date was Monday, September 30th. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a yield of 3.90%. U.S. Bancorp's dividend payout ratio is currently 61.16%.

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

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction dated 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 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.23% of the stock is currently owned by company 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.