Harbour Investments Inc. Sells 446 Shares of U.S. Bancorp (NYSE:USB)

Harbour Investments Inc. lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 1.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 30,383 shares of the financial services provider’s stock after selling 446 shares during the period. Harbour Investments Inc.’s holdings in U.S. Bancorp were worth $1,389,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in USB. Redwood Wealth Management Group LLC acquired a new position in shares of U.S. Bancorp during the second quarter valued at about $25,000. 1620 Investment Advisors Inc. acquired a new position in shares of U.S. Bancorp during the second quarter valued at about $30,000. LRI Investments LLC acquired a new position in shares of U.S. Bancorp during the first quarter valued at about $31,000. Y.D. More Investments Ltd acquired a new position in shares of U.S. Bancorp during the second quarter valued at about $33,000. Finally, Crewe Advisors LLC acquired a new position in shares of U.S. Bancorp during the first quarter valued at about $39,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the firm’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 transaction, the insider now directly owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on USB. Stephens increased their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Citigroup increased their price target on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Evercore ISI increased their price target on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Wells Fargo & Company increased their price target on shares of U.S. Bancorp from $52.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Finally, UBS Group increased their price target on shares of U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, U.S. Bancorp presently has an average rating of “Hold” and an average target price of $51.12.

U.S. Bancorp Price Performance

USB opened at $50.32 on Friday. U.S. Bancorp has a one year low of $36.21 and a one year high of $51.76. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The company’s 50 day simple moving average is $46.79 and its 200-day simple moving average is $43.58. The stock has a market capitalization of $78.50 billion, a P/E ratio of 15.39, a price-to-earnings-growth ratio of 2.99 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results 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 net margin of 12.92% and a return on equity of 12.91%. The business had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the prior year, the firm earned $1.05 earnings per share. U.S. Bancorp’s revenue was down 2.4% compared to the same quarter last year. Sell-side analysts anticipate that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp declared that its Board of Directors has initiated a share repurchase plan on Thursday, September 12th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 7% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a yield of 3.97%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 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.