U.S. Bancorp $USB Shares Newly Bought by NBT Bank N.A.

NBT Bank N.A. bought a new position in U.S. Bancorp (NYSE:USB) in the third quarter, Holdings Channel reports. The institutional investor bought 34,162 shares of the financial services provider’s stock, valued at approximately $1,973,000.

Several other hedge funds and other institutional investors have also bought and sold shares of USB. Mufg Bank LTD. bought a new position in U.S. Bancorp during the second quarter valued at approximately $2,680,199,000. Bank of America Corp DE raised its stake in shares of U.S. Bancorp by 6.9% during the first quarter. Bank of America Corp DE now owns 15,820,033 shares of the financial services provider’s stock worth $822,800,000 after acquiring an additional 1,022,898 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of U.S. Bancorp by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider’s stock worth $539,232,000 after acquiring an additional 93,025 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of U.S. Bancorp during the second quarter worth approximately $536,457,000. Finally, First Trust Advisors LP lifted its holdings in shares of U.S. Bancorp by 39.9% in the 1st quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider’s stock worth $422,261,000 after acquiring an additional 2,314,081 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. DA Davidson reaffirmed a “buy” rating and issued a $73.00 price objective on shares of U.S. Bancorp in a research note on Friday, October 16th. CLSA set a $67.50 target price on shares of U.S. Bancorp in a research report on Monday, July 20th. Evercore raised shares of U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 price target for the company in a research note on Monday, July 20th. Wall Street Zen raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, July 6th. Finally, HSBC upped their price target on shares of U.S. Bancorp from $74.00 to $76.00 and gave the company a “buy” rating in a research report on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, U.S. Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $69.19.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $59.96 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.83 and a current ratio of 0.83. U.S. Bancorp has a fifty-two week low of $45.02 and a fifty-two week high of $66.07. The stock has a 50 day moving average price of $60.37 and a two-hundred day moving average price of $59.25. The company has a market capitalization of $93.42 billion, a P/E ratio of 11.69, a PEG ratio of 1.13 and a beta of 1.00.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, October 15th. The financial services provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.02. U.S. Bancorp had a return on equity of 13.85% and a net margin of 18.85%. The firm had revenue of $8.04 billion during the quarter, compared to analyst estimates of $8 billion. During the same quarter in the prior year, the firm posted $1.22 earnings per share. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. Analysts expect that U.S. Bancorp will post 5.29 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were paid a $0.54 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.52. This represents a $2.16 annualized dividend and a dividend yield of 3.6%. U.S. Bancorp’s payout ratio is presently 42.11%.

Insider Buying and Selling

In related news, CEO Gunjan Kedia sold 27,267 shares of the company’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the completion of the sale, the chief executive officer directly owned 426,262 shares in the company, valued at $26,585,960.94. This represents a 6.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.21% of the stock is owned by corporate insiders.

U.S. Bancorp Profile

U.S. Bancorp (NYSE: USB) is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. U.S. Bank provides banking, lending, payment, investment and wealth-management services to individuals, businesses, institutions and government entities.

The company’s consumer and business banking operations offer deposit accounts, mortgages, home-equity and consumer loans, credit cards, small-business banking and commercial lending.