U.S. Bancorp (NYSE:USB) Stock Position Decreased by Haverford Trust Co

Haverford Trust Co trimmed its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 25.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,718 shares of the financial services provider's stock after selling 10,234 shares during the period. Haverford Trust Co's holdings in U.S. Bancorp were worth $1,405,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of USB. Vanguard Group Inc. grew its stake in U.S. Bancorp by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider's stock worth $6,051,096,000 after acquiring an additional 502,776 shares during the period. Davis Selected Advisers grew its stake in U.S. Bancorp by 0.3% in the 2nd quarter. Davis Selected Advisers now owns 14,228,444 shares of the financial services provider's stock worth $564,869,000 after acquiring an additional 43,437 shares during the period. Bank of New York Mellon Corp grew its stake in U.S. Bancorp by 0.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 13,312,930 shares of the financial services provider's stock worth $528,523,000 after acquiring an additional 94,841 shares during the period. Legal & General Group Plc grew its stake in U.S. Bancorp by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider's stock worth $491,364,000 after acquiring an additional 325,374 shares during the period. Finally, Van ECK Associates Corp grew its stake in U.S. Bancorp by 3.9% in the 3rd quarter. Van ECK Associates Corp now owns 9,852,013 shares of the financial services provider's stock worth $478,118,000 after acquiring an additional 373,559 shares during the period. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Down 1.7 %

USB stock traded down $0.85 during trading on Thursday, reaching $50.32. The stock had a trading volume of 10,345,121 shares, compared to its average volume of 8,345,582. U.S. Bancorp has a 1-year low of $36.21 and a 1-year high of $51.76. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $78.50 billion, a P/E ratio of 15.65, a PEG ratio of 2.99 and a beta of 1.02. The firm has a fifty day moving average price of $46.79 and a 200 day moving average price of $43.58.

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 firm had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. During the same quarter in the previous year, the business posted $1.05 EPS. The firm's revenue was down 2.4% compared to the same quarter last year. On average, equities analysts anticipate that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp announced that its Board of Directors has authorized a share repurchase plan on Thursday, September 12th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to buy up to 7% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

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 paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from U.S. Bancorp's previous quarterly dividend of $0.49. U.S. Bancorp's dividend payout ratio is 61.16%.

Insider Activity

In other news, insider Jodi L. Richard sold 25,000 shares of the company'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 sale, 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 document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.23% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Citigroup lifted their target price on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a "neutral" rating in a research note on Thursday, July 18th. 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. StockNews.com raised shares of U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Wednesday, July 17th. Oppenheimer boosted their price objective 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. Finally, Morgan Stanley raised shares of U.S. Bancorp from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $54.00 to $57.00 in a research note on Monday, September 30th. Thirteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, U.S. Bancorp presently has a consensus rating of "Hold" and a consensus target price of $51.12.

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.