Wilmington Savings Fund Society FSB Purchases 24,992 Shares of U.S. Bancorp (NYSE:USB)

Wilmington Savings Fund Society FSB boosted its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 126.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,819 shares of the financial services provider's stock after purchasing an additional 24,992 shares during the period. Wilmington Savings Fund Society FSB's holdings in U.S. Bancorp were worth $2,050,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Brooklyn Investment Group boosted its holdings in shares of U.S. Bancorp by 4.4% in the 3rd quarter. Brooklyn Investment Group now owns 4,792 shares of the financial services provider's stock worth $219,000 after acquiring an additional 201 shares in the last quarter. McAdam LLC grew its holdings in shares of U.S. Bancorp by 2.5% during the third quarter. McAdam LLC now owns 8,503 shares of the financial services provider's stock worth $389,000 after purchasing an additional 209 shares during the last quarter. Covestor Ltd increased its stake in shares of U.S. Bancorp by 15.2% in the third quarter. Covestor Ltd now owns 1,741 shares of the financial services provider's stock valued at $80,000 after buying an additional 230 shares in the last quarter. Valmark Advisers Inc. raised its holdings in shares of U.S. Bancorp by 2.9% in the second quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider's stock valued at $346,000 after buying an additional 242 shares during the last quarter. Finally, Phillips Wealth Planners LLC lifted its position in U.S. Bancorp by 2.1% during the 3rd quarter. Phillips Wealth Planners LLC now owns 12,056 shares of the financial services provider's stock worth $593,000 after buying an additional 243 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity at U.S. Bancorp

In other 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 value of $1,225,750.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.23% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

USB has been the subject of a number of research analyst reports. Evercore ISI boosted their target price on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an "in-line" rating in a research note on Wednesday, October 30th. The Goldman Sachs Group reduced their price objective on U.S. Bancorp from $48.00 to $46.00 and set a "neutral" rating on the stock in a report on Wednesday, September 11th. Citigroup raised U.S. Bancorp from a "neutral" rating to a "buy" rating and lifted their target price for the company from $49.00 to $65.00 in a research note on Monday, November 25th. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a research note on Thursday, October 17th. Finally, Wells Fargo & Company lifted their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the stock an "overweight" rating in a research report on Friday, November 15th. Twelve equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $53.27.

U.S. Bancorp Stock Down 0.1 %

Shares of NYSE:USB traded down $0.07 during mid-day trading on Friday, reaching $51.03. 6,426,776 shares of the stock were exchanged, compared to its average volume of 8,221,553. The company has a market cap of $79.61 billion, a P/E ratio of 15.61, a P/E/G ratio of 3.03 and a beta of 1.03. The stock's 50 day simple moving average is $49.79 and its 200-day simple moving average is $45.18. 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 one year low of $37.81 and a one year high of $53.98.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its 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 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 company posted $1.05 earnings per share. The firm's revenue was down 2.4% on a year-over-year basis. As a group, equities research analysts predict that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp announced that its Board of Directors has initiated a stock 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 generally a sign that the company's board of directors believes its stock is undervalued.

U.S. Bancorp Dividend Announcement

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

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.