U.S. Bancorp (NYSE:USB) Shares Sold by ICICI Prudential Asset Management Co Ltd

ICICI Prudential Asset Management Co Ltd decreased its stake in U.S. Bancorp (NYSE:USB - Free Report) by 6.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 194,027 shares of the financial services provider's stock after selling 12,500 shares during the period. ICICI Prudential Asset Management Co Ltd's holdings in U.S. Bancorp were worth $8,873,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in USB. Oppenheimer Asset Management Inc. raised its holdings in U.S. Bancorp by 31.5% during the third quarter. Oppenheimer Asset Management Inc. now owns 192,322 shares of the financial services provider's stock worth $8,795,000 after purchasing an additional 46,112 shares during the last quarter. Encompass Wealth Advisors LLC purchased a new stake in shares of U.S. Bancorp in the 3rd quarter worth about $214,000. Chase Investment Counsel Corp grew its stake in U.S. Bancorp by 5.7% in the 3rd quarter. Chase Investment Counsel Corp now owns 10,581 shares of the financial services provider's stock valued at $483,000 after acquiring an additional 575 shares during the last quarter. Empower Advisory Group LLC increased its holdings in U.S. Bancorp by 11.3% during the 3rd quarter. Empower Advisory Group LLC now owns 5,625 shares of the financial services provider's stock valued at $257,000 after acquiring an additional 572 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC lifted its holdings in shares of U.S. Bancorp by 35.7% in the third quarter. Prime Capital Investment Advisors LLC now owns 13,270 shares of the financial services provider's stock valued at $607,000 after purchasing an additional 3,491 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

U.S. Bancorp Stock Up 0.8 %

USB traded up $0.41 during trading hours on Wednesday, reaching $51.17. 7,128,929 shares of the stock traded hands, compared to its average volume of 8,340,493. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The firm's fifty day simple moving average is $46.69 and its two-hundred day simple moving average is $43.53. The company has a market cap of $79.83 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 2.99 and a beta of 1.02. U.S. Bancorp has a fifty-two week low of $35.02 and a fifty-two week high of $51.76.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating 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 company 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 business posted $1.05 EPS. The business's revenue was down 2.4% on a year-over-year basis. As a group, analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp declared that its board has approved a stock repurchase program on Thursday, September 12th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The company 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 is a positive change from U.S. Bancorp's previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.91%. U.S. Bancorp's dividend payout ratio (DPR) is presently 61.16%.

Insider Buying and Selling

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction on Friday, October 18th. The shares were 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 of the company's stock, valued at approximately $6,363,603.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on USB shares. Robert W. Baird set a $54.00 price objective on U.S. Bancorp in a research report on Thursday, October 17th. DA Davidson upped their target price on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Evercore ISI lifted their price target on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an "in-line" rating in a report on Wednesday, October 30th. Stephens raised their target price on shares of 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. Finally, StockNews.com upgraded U.S. Bancorp from a "sell" rating to a "hold" rating in a report on Wednesday, July 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, U.S. Bancorp currently has an average rating of "Hold" and a consensus target price of $51.12.

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.