Old Port Advisors Has $368,000 Holdings in U.S. Bancorp (NYSE:USB)

Old Port Advisors lowered its stake in U.S. Bancorp (NYSE:USB) by 7.6% in the fourth quarter, Holdings Channel reports. The fund owned 7,685 shares of the financial services provider’s stock after selling 628 shares during the quarter. Old Port Advisors’ holdings in U.S. Bancorp were worth $368,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. FMR LLC lifted its stake in U.S. Bancorp by 32.7% in the 3rd quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after purchasing an additional 15,746,852 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of U.S. Bancorp by 153.0% during the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock valued at $374,573,000 after acquiring an additional 4,807,662 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of U.S. Bancorp by 723.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock valued at $146,864,000 after acquiring an additional 2,821,642 shares in the last quarter. Marshall Wace LLP grew its position in U.S. Bancorp by 1,438.4% during the 2nd quarter. Marshall Wace LLP now owns 2,263,296 shares of the financial services provider’s stock worth $89,853,000 after acquiring an additional 2,116,175 shares during the last quarter. Finally, National Bank of Canada FI increased its holdings in U.S. Bancorp by 313.8% in the 2nd quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock worth $105,903,000 after purchasing an additional 2,046,522 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Stock Down 0.5 %

Shares of USB traded down $0.26 during trading hours on Thursday, hitting $47.57. The stock had a trading volume of 1,402,865 shares, compared to its average volume of 8,176,125. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98. The firm has a market capitalization of $74.21 billion, a P/E ratio of 14.55, a price-to-earnings-growth ratio of 3.03 and a beta of 1.03. The firm has a 50 day simple moving average of $50.19 and a 200-day simple moving average of $46.08. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. During the same quarter in the previous year, the company posted $1.05 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis. Sell-side analysts predict that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend is Tuesday, December 31st. U.S. Bancorp’s dividend payout ratio (DPR) is 61.16%.

U.S. Bancorp declared that its Board of Directors has authorized a stock repurchase plan on Thursday, September 12th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $54.00 to $57.00 in a research note on Monday, September 30th. Citigroup raised shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $49.00 to $65.00 in a report on Monday, November 25th. Wells Fargo & Company raised their price target on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Barclays boosted their price objective on shares of U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price objective for the company from $58.00 to $60.00 in a report on Thursday. Ten investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $53.98.

Insider Activity

In related news, insider Jodi L. Richard sold 25,000 shares of U.S. Bancorp stock in a transaction that occurred on 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 transaction, the insider now owns 129,790 shares of the company’s stock, valued at $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.23% of the company’s stock.

About U.S. Bancorp

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.