U.S. Bancorp (NYSE:USB) Shares Purchased by M&T Bank Corp

M&T Bank Corp increased its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 2.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 846,344 shares of the financial services provider's stock after buying an additional 22,803 shares during the quarter. M&T Bank Corp owned about 0.05% of U.S. Bancorp worth $38,704,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in USB. Unigestion Holding SA purchased a new stake in U.S. Bancorp during the third quarter worth about $600,000. TD Private Client Wealth LLC boosted its stake in U.S. Bancorp by 7.3% in the third quarter. TD Private Client Wealth LLC now owns 200,657 shares of the financial services provider's stock valued at $9,176,000 after acquiring an additional 13,578 shares in the last quarter. Empire Financial Management Company LLC acquired a new position in U.S. Bancorp during the third quarter worth approximately $215,000. Coldstream Capital Management Inc. increased its stake in U.S. Bancorp by 13.4% in the third quarter. Coldstream Capital Management Inc. now owns 69,726 shares of the financial services provider's stock valued at $3,217,000 after purchasing an additional 8,234 shares during the period. Finally, Gould Capital LLC raised its stake in U.S. Bancorp by 1.4% during the 3rd quarter. Gould Capital LLC now owns 26,844 shares of the financial services provider's stock valued at $1,228,000 after acquiring an additional 371 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

Insider Activity

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the firm's 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 transaction, the insider now owns 129,790 shares of the company's stock, valued at $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.23% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on USB. Deutsche Bank Aktiengesellschaft cut U.S. Bancorp from a "buy" rating to a "hold" rating and set a $51.00 price objective for the company. in a research report on Thursday, October 24th. Morgan Stanley upgraded U.S. Bancorp from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $54.00 to $57.00 in a research report on Monday, September 30th. Compass Point boosted their price objective on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a "buy" rating in a research report on Tuesday, December 10th. DA Davidson lifted their target price on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada set a $53.00 price target on shares of U.S. Bancorp in a research report on Thursday, October 17th. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $53.68.

U.S. Bancorp Stock Up 1.1 %

U.S. Bancorp stock traded up $0.51 during midday trading on Friday, hitting $47.92. 19,759,879 shares of the company were exchanged, compared to its average volume of 8,272,881. The company's fifty day moving average price is $50.18 and its 200-day moving average price is $45.55. The company has a market cap of $74.76 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 3.03 and a beta of 1.03. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. 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 released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS 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 business had revenue of $6.86 billion for the quarter, compared to analysts' expectations of $6.90 billion. During the same quarter in the previous year, the firm posted $1.05 earnings per share. The company's revenue was down 2.4% compared to the same quarter last year. On average, research analysts predict that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp announced that its Board of Directors has initiated a stock repurchase program on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.17%. The ex-dividend date of this dividend is Tuesday, December 31st. U.S. Bancorp's payout ratio is currently 61.16%.

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.