Delta Capital Management LLC Decreases Stock Holdings in U.S. Bancorp (NYSE:USB)

Delta Capital Management LLC reduced its holdings in shares of U.S. Bancorp (NYSE:USB) by 7.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,305 shares of the financial services provider’s stock after selling 3,910 shares during the quarter. Delta Capital Management LLC’s holdings in U.S. Bancorp were worth $2,784,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Equitable Trust Co. boosted its stake in shares of U.S. Bancorp by 1.7% in the second quarter. Equitable Trust Co. now owns 11,990 shares of the financial services provider’s stock valued at $628,000 after purchasing an additional 200 shares during the period. Adams Diversified Equity Fund Inc. boosted its stake in shares of U.S. Bancorp by 8.1% in the second quarter. Adams Diversified Equity Fund Inc. now owns 483,000 shares of the financial services provider’s stock valued at $25,309,000 after purchasing an additional 36,000 shares during the period. FTB Advisors Inc. boosted its stake in shares of U.S. Bancorp by 34.8% in the second quarter. FTB Advisors Inc. now owns 5,251 shares of the financial services provider’s stock valued at $274,000 after purchasing an additional 1,356 shares during the period. Rehmann Capital Advisory Group boosted its stake in shares of U.S. Bancorp by 1.4% in the first quarter. Rehmann Capital Advisory Group now owns 27,436 shares of the financial services provider’s stock valued at $1,322,000 after purchasing an additional 373 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of U.S. Bancorp by 2.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 6,615,250 shares of the financial services provider’s stock valued at $346,640,000 after purchasing an additional 144,372 shares during the period. Institutional investors own 75.49% of the company’s stock.

Several brokerages have recently weighed in on USB. Macquarie downgraded shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $59.00 target price for the company. in a research note on Thursday, August 1st. Citigroup downgraded shares of U.S. Bancorp from a “neutral” rating to a “sell” rating and decreased their target price for the company from $54.00 to $49.00 in a research note on Tuesday. Piper Jaffray Companies set a $59.00 target price on shares of U.S. Bancorp and gave the company a “buy” rating in a research note on Friday, September 13th. Bank of America downgraded shares of U.S. Bancorp from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $55.00 to $53.00 in a research note on Monday, September 30th. Finally, Morgan Stanley upped their price target on shares of U.S. Bancorp from $55.00 to $56.00 and gave the company an “underweight” rating in a report on Thursday, July 18th. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $56.31.

In other U.S. Bancorp news, Vice Chairman Gillern Jeffry H. Von sold 9,428 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $55.25, for a total transaction of $520,897.00. Following the sale, the insider now directly owns 94,658 shares of the company’s stock, valued at $5,229,854.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Shailesh M. Kotwal sold 20,000 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $57.33, for a total transaction of $1,146,600.00. Following the sale, the insider now directly owns 65,959 shares in the company, valued at $3,781,429.47. The disclosure for this sale can be found here. Insiders have sold 50,547 shares of company stock worth $2,862,231 over the last three months. 0.24% of the stock is owned by corporate insiders.

USB traded up $0.89 during trading on Friday, hitting $53.91. The company had a trading volume of 173,461 shares, compared to its average volume of 5,532,521. The company has a market cap of $85.02 billion, a PE ratio of 13.14, a P/E/G ratio of 2.03 and a beta of 1.10. The business has a 50-day moving average of $53.90 and a 200-day moving average of $52.64. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.84 and a quick ratio of 0.83. U.S. Bancorp has a 1-year low of $43.14 and a 1-year high of $57.81.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. The firm had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.73 billion. U.S. Bancorp had a net margin of 26.70% and a return on equity of 15.45%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same period in the prior year, the company posted $1.02 earnings per share. Research analysts forecast that U.S. Bancorp will post 4.3 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.12%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.37. The ex-dividend date is Friday, September 27th. U.S. Bancorp’s dividend payout ratio is 40.98%.

U.S. Bancorp announced that its Board of Directors has authorized a share buyback program on Thursday, June 27th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 3.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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