Nisa Investment Advisors LLC Lowers Stock Holdings in U.S. Bancorp (NYSE:USB)

Nisa Investment Advisors LLC lowered its stake in U.S. Bancorp (NYSE:USB - Free Report) by 4.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 418,978 shares of the financial services provider's stock after selling 21,427 shares during the quarter. Nisa Investment Advisors LLC's holdings in U.S. Bancorp were worth $19,369,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Redwood Wealth Management Group LLC purchased a new position in shares of U.S. Bancorp during the 2nd quarter worth $25,000. 1620 Investment Advisors Inc. purchased a new position in shares of U.S. Bancorp during the 2nd quarter worth $30,000. Eagle Bay Advisors LLC boosted its stake in shares of U.S. Bancorp by 93.2% during the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider's stock worth $31,000 after acquiring an additional 331 shares during the last quarter. LRI Investments LLC purchased a new position in shares of U.S. Bancorp during the 1st quarter worth $31,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of U.S. Bancorp during the 2nd quarter worth $33,000. Hedge funds and other institutional investors own 77.60% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on USB shares. Morgan Stanley upgraded shares of U.S. Bancorp from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $54.00 to $57.00 in a research note on Monday, September 30th. Oppenheimer raised their price objective on shares of U.S. Bancorp from $57.00 to $59.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Wells Fargo & Company raised their price objective on shares of U.S. Bancorp from $52.00 to $60.00 and gave the company an "overweight" rating in a research report on Thursday, October 17th. Jefferies Financial Group decreased their price objective on shares of U.S. Bancorp from $43.00 to $42.00 and set a "hold" rating on the stock in a research report on Wednesday, July 3rd. Finally, Citigroup raised their price objective on shares of U.S. Bancorp from $45.00 to $49.00 and gave the company a "neutral" rating in a research report on Thursday, July 18th. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, U.S. Bancorp has a consensus rating of "Hold" and an average target price of $50.87.

U.S. Bancorp Price Performance

Shares of NYSE:USB traded up $0.47 on Wednesday, reaching $48.69. The company's stock had a trading volume of 8,434,459 shares, compared to its average volume of 8,341,729. U.S. Bancorp has a 52-week low of $30.88 and a 52-week high of $50.47. The company has a market cap of $75.98 billion, a P/E ratio of 16.12, a PEG ratio of 2.85 and a beta of 1.03. The company has a 50-day simple moving average of $46.10 and a 200 day simple moving average of $42.97. 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 issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 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 business had revenue of $6.86 billion during the quarter, compared to analysts' expectations of $6.90 billion. During the same period last year, the company posted $1.05 EPS. The business's revenue was down 2.4% on a year-over-year basis. As a group, equities research analysts anticipate that U.S. Bancorp will post 3.9 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid 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 dividend yield of 4.11%. U.S. Bancorp's payout ratio is currently 66.23%.

U.S. Bancorp declared that its board has approved a share 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 purchase up to 7% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction dated 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 completion of the transaction, the insider now directly owns 129,790 shares of the company's stock, valued at approximately $6,363,603.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.23% of the stock is owned by corporate insiders.

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.