Cacti Asset Management LLC Lowers Stock Position in U.S. Bancorp (NYSE:USB)

Cacti Asset Management LLC reduced its position in shares of U.S. Bancorp (NYSE:USB) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,935 shares of the financial services provider’s stock after selling 3,400 shares during the quarter. Cacti Asset Management LLC’s holdings in U.S. Bancorp were worth $3,326,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in USB. Redwood Wealth Management Group LLC purchased a new stake in U.S. Bancorp during the 2nd quarter valued at about $25,000. Frazier Financial Advisors LLC increased its holdings in shares of U.S. Bancorp by 222.7% in the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 441 shares during the last quarter. Y.D. More Investments Ltd purchased a new position in U.S. Bancorp during the second quarter worth approximately $33,000. Legacy Investment Solutions LLC acquired a new position in U.S. Bancorp during the third quarter worth $40,000. Finally, Northwest Bank & Trust Co increased its stake in shares of U.S. Bancorp by 87.4% in the 3rd quarter. Northwest Bank & Trust Co now owns 937 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 437 shares during the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction dated 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 sale, the insider now 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Compass Point upped their target price on shares of U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Raymond James upgraded shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price for the company in a report on Thursday, December 19th. Citigroup upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their price target for the stock from $49.00 to $65.00 in a research note on Monday, November 25th. Oppenheimer boosted their price objective on U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a research report on Thursday, October 24th. Ten equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $53.98.

U.S. Bancorp Price Performance

NYSE USB traded up $0.28 during mid-day trading on Thursday, hitting $48.11. The stock had a trading volume of 1,875,408 shares, compared to its average volume of 8,176,125. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98. 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 50 day simple moving average of $50.19 and a 200 day simple moving average of $46.08. The company has a market cap of $75.05 billion, a price-to-earnings ratio of 14.71, a P/E/G ratio of 3.03 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping 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 company had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same period last year, the company earned $1.05 EPS. The firm’s revenue for the quarter was down 2.4% compared to the same quarter last year. Equities analysts forecast that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp announced that its board has approved a share 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 repurchase up to 7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.16%. The ex-dividend date is Tuesday, December 31st. U.S. Bancorp’s payout ratio is 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.