First Long Island Investors LLC Has $15.50 Million Stock Position in U.S. Bancorp (NYSE:USB)

First Long Island Investors LLC cut its holdings in U.S. Bancorp (NYSE:USB) by 0.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 338,848 shares of the financial services provider’s stock after selling 1,499 shares during the period. First Long Island Investors LLC’s holdings in U.S. Bancorp were worth $15,496,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of USB. Manning & Napier Advisors LLC bought a new position in shares of U.S. Bancorp during the second quarter worth approximately $20,188,000. Janus Henderson Group PLC lifted its position in shares of U.S. Bancorp by 6.4% during the 1st quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock valued at $12,363,000 after acquiring an additional 16,686 shares during the period. Comerica Bank grew its holdings in shares of U.S. Bancorp by 11.2% during the 1st quarter. Comerica Bank now owns 564,443 shares of the financial services provider’s stock worth $25,231,000 after purchasing an additional 56,738 shares in the last quarter. M&G Plc increased its position in shares of U.S. Bancorp by 73.9% in the second quarter. M&G Plc now owns 314,241 shares of the financial services provider’s stock worth $12,570,000 after purchasing an additional 133,498 shares during the period. Finally, UniSuper Management Pty Ltd raised its stake in U.S. Bancorp by 1,140.5% in the first quarter. UniSuper Management Pty Ltd now owns 20,382 shares of the financial services provider’s stock valued at $911,000 after purchasing an additional 18,739 shares in the last quarter. 77.60% of the stock is owned by institutional investors.

Insider Transactions at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Trading Down 0.6 %

NYSE:USB traded down $0.28 during mid-day trading on Friday, hitting $50.03. 2,111,217 shares of the company’s stock were exchanged, compared to its average volume of 8,321,470. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a fifty-two week low of $36.49 and a fifty-two week high of $51.76. The company has a 50 day simple moving average of $46.88 and a 200-day simple moving average of $43.63. The firm has a market capitalization of $78.05 billion, a P/E ratio of 15.45, a PEG ratio of 3.02 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results 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. The company had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. U.S. Bancorp’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.05 earnings per share. As a group, research analysts expect 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 buyback program on Thursday, September 12th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.50 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.00%. U.S. Bancorp’s dividend payout ratio is presently 61.16%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on USB. The Goldman Sachs Group reduced their price objective on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Barclays boosted their price objective on shares of U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a report on Thursday, October 24th. Finally, Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a report on Thursday, October 17th. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $51.22.

U.S. Bancorp Company 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.