Logan Capital Management Inc. Sells 11,705 Shares of U.S. Bancorp (NYSE:USB)

Logan Capital Management Inc. trimmed its stake in U.S. Bancorp (NYSE:USB - Free Report) by 4.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 239,865 shares of the financial services provider's stock after selling 11,705 shares during the quarter. Logan Capital Management Inc.'s holdings in U.S. Bancorp were worth $10,969,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in USB. Redwood Wealth Management Group LLC bought a new position in U.S. Bancorp in the second quarter worth approximately $25,000. Frazier Financial Advisors LLC lifted its holdings in shares of U.S. Bancorp by 222.7% in the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider's stock worth $29,000 after purchasing an additional 441 shares in the last quarter. 1620 Investment Advisors Inc. bought a new position in shares of U.S. Bancorp in the 2nd quarter worth $30,000. Y.D. More Investments Ltd bought a new stake in U.S. Bancorp during the 2nd quarter valued at $33,000. Finally, Kimelman & Baird LLC bought a new stake in U.S. Bancorp during the 2nd quarter valued at $40,000. Institutional investors and hedge funds own 77.60% of the company's stock.

U.S. Bancorp Stock Performance

NYSE:USB traded down $0.07 during trading hours on Friday, reaching $51.03. The stock had a trading volume of 6,426,776 shares, compared to its average volume of 8,221,553. The stock has a market cap of $79.61 billion, a P/E ratio of 15.61, a price-to-earnings-growth ratio of 3.03 and a beta of 1.03. The stock has a 50 day simple moving average of $49.79 and a 200 day simple moving average of $45.18. 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 has a 12-month low of $37.81 and a 12-month high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.04. The company had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm's revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.05 EPS. On average, research analysts forecast that U.S. Bancorp will post 3.93 EPS 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 repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date of this dividend is Tuesday, December 31st. U.S. Bancorp's payout ratio is currently 61.16%.

Insider Buying and Selling

In other news, insider Jodi L. Richard sold 25,000 shares of the company's stock in a transaction dated Friday, October 18th. The stock was 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 in the company, valued at $6,363,603.70. This represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.23% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Robert W. Baird set a $54.00 price objective on shares of U.S. Bancorp in a report on Thursday, October 17th. The Goldman Sachs Group cut their price target on U.S. Bancorp from $48.00 to $46.00 and set a "neutral" rating for the company in a research note on Wednesday, September 11th. Oppenheimer increased their price objective on U.S. Bancorp from $59.00 to $64.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 5th. Stephens lifted their target price on U.S. Bancorp from $49.00 to $52.00 and gave the company an "equal weight" rating in a research report on Thursday, October 17th. Finally, Piper Sandler upped their price target on U.S. Bancorp from $52.00 to $58.00 and gave the stock a "neutral" rating in a report on Tuesday, December 3rd. Twelve investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $53.27.

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.