First Financial Bank Trust Division reduced its holdings in U.S. Bancorp (NYSE:USB) by 2.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,794 shares of the financial services provider’s stock after selling 941 shares during the period. First Financial Bank Trust Division’s holdings in U.S. Bancorp were worth $2,035,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Vantage Consulting Group Inc bought a new position in shares of U.S. Bancorp in the 4th quarter valued at about $27,000. Field & Main Bank acquired a new position in U.S. Bancorp during the fourth quarter valued at approximately $27,000. Salem Investment Counselors Inc. grew its stake in U.S. Bancorp by 92.3% in the fourth quarter. Salem Investment Counselors Inc. now owns 600 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 288 shares in the last quarter. Diversified LLC acquired a new position in shares of U.S. Bancorp during the 4th quarter worth approximately $28,000. Finally, Valley Brook Capital Group acquired a new stake in shares of U.S. Bancorp in the 4th quarter valued at approximately $37,000. 71.73% of the stock is currently owned by hedge funds and other institutional investors.
U.S. Bancorp stock traded down $0.36 during mid-day trading on Thursday, reaching $56.45. 63,854 shares of the company were exchanged, compared to its average volume of 7,974,351. The firm has a market cap of $84.82 billion, a PE ratio of 18.81, a PEG ratio of 2.26 and a beta of 1.09. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.82 and a quick ratio of 0.80. The company has a fifty day simple moving average of $53.30 and a 200-day simple moving average of $45.75. U.S. Bancorp has a 12 month low of $28.36 and a 12 month high of $57.02.
U.S. Bancorp announced that its board has authorized a stock repurchase program on Tuesday, December 22nd that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st 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 2.98%. The ex-dividend date is Tuesday, March 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 38.71%.
Several analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of U.S. Bancorp from $55.00 to $62.00 and gave the stock a “buy” rating in a research report on Thursday, April 1st. Credit Suisse Group raised their target price on shares of U.S. Bancorp from $50.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, March 31st. Zacks Investment Research upgraded U.S. Bancorp from a “hold” rating to a “strong-buy” rating and set a $52.00 price objective on the stock in a research note on Thursday, December 17th. Bank of America cut U.S. Bancorp from a “neutral” rating to an “underperform” rating and raised their price objective for the company from $44.00 to $52.00 in a research report on Thursday, January 7th. Finally, Robert W. Baird restated a “neutral” rating and issued a $55.00 price target on shares of U.S. Bancorp in a research note on Thursday, March 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $53.28.
About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments. The company offers depository services, including checking accounts, savings accounts, and time certificate contracts; lending services, such as traditional credit products; and credit card services, lease financing and import/export trade, asset-backed lending, agricultural finance, and other products.
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