Stock Yards Bank & Trust Co. Has $2.08 Million Stock Position in U.S. Bancorp (NYSE:USB)

Stock Yards Bank & Trust Co. cut its holdings in U.S. Bancorp (NYSE:USB) by 9.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 45,577 shares of the financial services provider’s stock after selling 4,914 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in U.S. Bancorp were worth $2,084,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Brooklyn Investment Group boosted its stake in U.S. Bancorp by 4.4% during the third 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 boosted its position in shares of U.S. Bancorp by 2.5% during the 3rd quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock worth $389,000 after purchasing an additional 209 shares in the last quarter. Covestor Ltd grew its stake in shares of U.S. Bancorp by 15.2% in the 3rd 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 during the period. Valmark Advisers Inc. increased its position in U.S. Bancorp by 2.9% in the 2nd 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 in the last quarter. Finally, Phillips Wealth Planners LLC raised its stake 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 during the period. 77.60% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction that occurred on 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 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $51.10 on Friday. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The company’s 50-day moving average is $49.52 and its 200 day moving average is $45.07. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market capitalization of $79.72 billion, a P/E ratio of 15.63, a price-to-earnings-growth ratio of 3.03 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. The firm had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.05 EPS. On average, equities research analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp announced that its board has initiated a stock repurchase program 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 reacquire up to 7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

U.S. Bancorp Dividend Announcement

The company also recently announced 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. The ex-dividend date is Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 3.91%. U.S. Bancorp’s payout ratio is presently 61.16%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Compass Point raised their price objective on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday. Wells Fargo & Company boosted 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. Oppenheimer raised 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. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Finally, Piper Sandler upped their target price on shares of U.S. Bancorp from $52.00 to $58.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Twelve analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $53.27.

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.