Capital City Trust Co. FL Has $1.20 Million Position in U.S. Bancorp (NYSE:USB)

Capital City Trust Co. FL lessened its stake in shares of U.S. Bancorp (NYSE:USB) by 44.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 26,290 shares of the financial services provider’s stock after selling 21,272 shares during the quarter. Capital City Trust Co. FL’s holdings in U.S. Bancorp were worth $1,202,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of USB. Davis Selected Advisers lifted its position in shares of U.S. Bancorp by 0.3% during the 2nd quarter. Davis Selected Advisers now owns 14,228,444 shares of the financial services provider’s stock worth $564,869,000 after purchasing an additional 43,437 shares during the last quarter. Bank of New York Mellon Corp increased its position in U.S. Bancorp by 0.7% during the second quarter. Bank of New York Mellon Corp now owns 13,312,930 shares of the financial services provider’s stock worth $528,523,000 after acquiring an additional 94,841 shares during the period. Legal & General Group Plc raised its position in shares of U.S. Bancorp by 2.7% during the second quarter. Legal & General Group Plc now owns 12,376,977 shares of the financial services provider’s stock valued at $491,364,000 after buying an additional 325,374 shares during the last quarter. Van ECK Associates Corp grew its position in U.S. Bancorp by 3.9% during the third quarter. Van ECK Associates Corp now owns 9,852,013 shares of the financial services provider’s stock worth $478,118,000 after buying an additional 373,559 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of U.S. Bancorp by 0.3% in the 2nd quarter. Clearbridge Investments LLC now owns 6,962,394 shares of the financial services provider’s stock worth $276,407,000 after acquiring an additional 20,928 shares during the period. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

Shares of USB stock opened at $49.90 on Monday. The firm’s 50 day moving average price is $46.99 and its two-hundred day moving average price is $43.73. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a 52-week low of $36.49 and a 52-week high of $51.76. The stock has a market cap of $77.85 billion, a PE ratio of 15.26, a PEG ratio of 2.94 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last posted its 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 return on equity of 12.91% and a net margin of 12.92%. The company had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same period in the previous year, the company earned $1.05 EPS. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, analysts forecast that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp announced that its Board of Directors has initiated a share repurchase program on Thursday, September 12th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.01%. The ex-dividend date was Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s payout ratio is 61.16%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the 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 in the company, valued at approximately $6,363,603.70. This represents a 16.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on USB. Stephens lifted 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 note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a research report on Thursday, October 24th. Oppenheimer increased their price target on shares of U.S. Bancorp from $59.00 to $64.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Robert W. Baird set a $54.00 price objective on U.S. Bancorp in a report on Thursday, October 17th. Finally, Evercore ISI upped their price target on U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research report on Wednesday, October 30th. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $51.22.

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.