Howe & Rusling Inc. Has $4.22 Million Holdings in U.S. Bancorp (NYSE:USB)

Howe & Rusling Inc. decreased its holdings in U.S. Bancorp (NYSE:USB) by 47.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 92,202 shares of the financial services provider’s stock after selling 83,592 shares during the quarter. Howe & Rusling Inc.’s holdings in U.S. Bancorp were worth $4,216,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Redwood Wealth Management Group LLC purchased a new position in shares of U.S. Bancorp during the second quarter valued at approximately $25,000. Frazier Financial Advisors LLC boosted its holdings in U.S. Bancorp by 222.7% during the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 441 shares during the last quarter. 1620 Investment Advisors Inc. bought a new stake in shares of U.S. Bancorp in the 2nd quarter worth $30,000. LRI Investments LLC bought a new position in shares of U.S. Bancorp during the first quarter valued at about $31,000. Finally, Y.D. More Investments Ltd purchased a new position in U.S. Bancorp during the second quarter worth about $33,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on USB shares. DA Davidson lifted their target price on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Evercore ISI lifted their price target on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Robert W. Baird set a $54.00 price objective on U.S. Bancorp in a research report on Thursday, October 17th. The Goldman Sachs Group lowered their target price on 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. Finally, Wells Fargo & Company increased 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 report on Friday, November 15th. Thirteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $51.22.

Insider Buying and Selling

In other news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Stock Down 0.4 %

Shares of NYSE USB opened at $50.41 on Wednesday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The company has a market cap of $78.64 billion, a P/E ratio of 15.42, a P/E/G ratio of 2.94 and a beta of 1.02. U.S. Bancorp has a 52 week low of $36.49 and a 52 week high of $51.76. The business has a 50-day simple moving average of $47.21 and a two-hundred day simple moving average of $43.86.

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 analysts’ consensus estimates of $0.99 by $0.04. The company had revenue of $6.86 billion during 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 period last year, the business earned $1.05 earnings per share. Research analysts anticipate that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.50 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s payout ratio is 61.16%.

U.S. Bancorp declared that its board has approved a share buyback program on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.

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.