Stifel Financial Corp Reduces Stock Position in U.S. Bancorp (NYSE:USB)

Stifel Financial Corp cut its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 4.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,720,823 shares of the financial services provider's stock after selling 182,817 shares during the quarter. Stifel Financial Corp owned about 0.24% of U.S. Bancorp worth $170,154,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Lantz Financial LLC raised its stake in U.S. Bancorp by 4.7% during the second quarter. Lantz Financial LLC now owns 48,116 shares of the financial services provider's stock worth $1,910,000 after purchasing an additional 2,179 shares during the period. CX Institutional raised its stake in U.S. Bancorp by 1.3% during the second quarter. CX Institutional now owns 22,705 shares of the financial services provider's stock worth $901,000 after purchasing an additional 284 shares during the period. OLD National Bancorp IN raised its stake in U.S. Bancorp by 1.8% during the second quarter. OLD National Bancorp IN now owns 86,995 shares of the financial services provider's stock worth $3,454,000 after purchasing an additional 1,544 shares during the period. Capital Investment Advisors LLC purchased a new position in U.S. Bancorp during the second quarter worth about $225,000. Finally, QRG Capital Management Inc. raised its stake in U.S. Bancorp by 34.7% during the second quarter. QRG Capital Management Inc. now owns 72,803 shares of the financial services provider's stock worth $2,890,000 after purchasing an additional 18,760 shares during the period. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. 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 note on Thursday, October 17th. Citigroup raised shares of U.S. Bancorp from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $49.00 to $65.00 in a research note on Monday, November 25th. Oppenheimer boosted their price target on shares of U.S. Bancorp from $59.00 to $64.00 and gave the company an "outperform" rating in a research note on Tuesday, November 5th. Piper Sandler boosted their price target on shares of U.S. Bancorp from $52.00 to $58.00 and gave the company a "neutral" rating in a research note on Tuesday. Finally, Barclays boosted their price target on shares of U.S. Bancorp from $52.00 to $57.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. Twelve analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, U.S. Bancorp presently has an average rating of "Hold" and a consensus price target of $52.72.

U.S. Bancorp Stock Up 0.1 %

NYSE USB traded up $0.03 on Friday, hitting $52.15. 4,683,477 shares of the stock were exchanged, compared to its average volume of 8,253,200. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. 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 market cap of $81.36 billion, a PE ratio of 15.96, a PEG ratio of 3.07 and a beta of 1.03. The company has a 50-day moving average price of $48.99 and a 200-day moving average price of $44.73.

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

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.50 dividend. This is a boost 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 3.84%. U.S. Bancorp's dividend payout ratio is presently 61.16%.

U.S. Bancorp declared that its Board of Directors has approved a share buyback 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 generally an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the company's 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 completion of the transaction, the insider now owns 129,790 shares in the company, valued at approximately $6,363,603.70. This represents a 16.15 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is 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.