KBC Group NV Has $10.51 Million Stock Holdings in U.S. Bancorp (NYSE:USB)

KBC Group NV trimmed its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 27.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 229,899 shares of the financial services provider's stock after selling 85,249 shares during the quarter. KBC Group NV's holdings in U.S. Bancorp were worth $10,513,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Manning & Napier Advisors LLC acquired a new stake in U.S. Bancorp in the second quarter valued at approximately $20,188,000. Janus Henderson Group PLC increased its position in U.S. Bancorp by 6.4% during the first quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider's stock worth $12,363,000 after buying an additional 16,686 shares during the last quarter. Comerica Bank raised its holdings in U.S. Bancorp by 11.2% during the first quarter. Comerica Bank now owns 564,443 shares of the financial services provider's stock valued at $25,231,000 after buying an additional 56,738 shares in the last quarter. M&G Plc lifted its position in shares of U.S. Bancorp by 73.9% in the second quarter. M&G Plc now owns 314,241 shares of the financial services provider's stock worth $12,570,000 after buying an additional 133,498 shares during the last quarter. Finally, UniSuper Management Pty Ltd boosted its stake in shares of U.S. Bancorp by 1,140.5% during the 1st quarter. UniSuper Management Pty Ltd now owns 20,382 shares of the financial services provider's stock worth $911,000 after acquiring an additional 18,739 shares in the last quarter. Institutional investors own 77.60% of the company's stock.

U.S. Bancorp Trading Down 0.8 %

USB traded down $0.41 during midday trading on Friday, reaching $49.90. 13,570,863 shares of the company were exchanged, compared to its average volume of 8,047,181. The stock has a market capitalization of $77.85 billion, a P/E ratio of 15.26, a PEG ratio of 2.94 and a beta of 1.02. U.S. Bancorp has a one year low of $36.49 and a one year high of $51.76. The stock's 50-day simple moving average is $46.99 and its 200 day simple moving average is $43.71. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current 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 for the quarter, topping analysts' consensus estimates of $0.99 by $0.04. The company had revenue of $6.86 billion for the quarter, compared to analysts' expectations of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The business's quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the firm posted $1.05 earnings per share. As a group, analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp announced that its board has initiated a stock buyback program 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 programs are usually a sign that the company's management believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The business also recently disclosed 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.01%. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp's dividend payout ratio (DPR) is presently 61.16%.

Insider Activity at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the firm's stock in a transaction 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 completion of the transaction, the insider now owns 129,790 shares of the company's stock, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.23% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

USB has been the subject of several research analyst reports. 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. Morgan Stanley raised U.S. Bancorp from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $54.00 to $57.00 in a report on Monday, September 30th. Wells Fargo & Company upped their target price on U.S. Bancorp from $60.00 to $62.00 and gave the company an "overweight" rating in a research note on Friday. Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a research note on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of U.S. Bancorp from a "buy" rating to a "hold" rating and set a $51.00 price target on the stock. in a report on Thursday, October 24th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, U.S. Bancorp presently has an average 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.