NBT Bank N.A. Makes New Investment in U.S. Bancorp $USB

Key Points

• NBT Bank purchased 34,162 shares of U.S. Bancorp in the third quarter, valued at approximately $1.97 million. Institutional investors collectively own 77.6% of the company.
• Analysts maintain a “Moderate Buy” consensus on U.S. Bancorp, with a consensus price target of $69.19; recent targets range from $65 to $75.
• U.S. Bancorp exceeded quarterly earnings expectations with $1.34 in EPS and $8.04 billion in revenue, while revenue rose 8.7% year over year. The company also increased its quarterly dividend to $0.54 per share, implying a 3.6% yield.

NBT Bank N.A. purchased a new stake in shares of U.S. Bancorp (NYSE:USB - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 34,162 shares of the financial services provider's stock, valued at approximately $1,973,000.

Other institutional investors also recently added to or reduced their stakes in the company. Mufg Bank LTD. bought a new stake in U.S. Bancorp in the second quarter worth about $2,680,199,000. Bank of America Corp DE grew its position in shares of U.S. Bancorp by 6.9% during the 1st quarter. Bank of America Corp DE now owns 15,820,033 shares of the financial services provider's stock valued at $822,800,000 after acquiring an additional 1,022,898 shares during the period. Dimensional Fund Advisors LP grew its position in shares of U.S. Bancorp by 0.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,369,212 shares of the financial services provider's stock valued at $539,232,000 after acquiring an additional 93,025 shares during the period. Bank of New York Mellon Corp bought a new position in shares of U.S. Bancorp during the 2nd quarter valued at approximately $536,457,000. Finally, First Trust Advisors LP increased its stake in shares of U.S. Bancorp by 39.9% during the 1st quarter. First Trust Advisors LP now owns 8,118,845 shares of the financial services provider's stock worth $422,261,000 after purchasing an additional 2,314,081 shares during the last quarter. Institutional investors own 77.60% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on USB. Keefe, Bruyette & Woods lifted their price target on shares of U.S. Bancorp from $63.00 to $66.00 and gave the stock a "market perform" rating in a report on Friday, July 17th. Barclays upped their price objective on U.S. Bancorp from $67.00 to $75.00 and gave the company an "overweight" rating in a research note on Friday, July 17th. Royal Bank Of Canada reduced their price objective on U.S. Bancorp from $68.00 to $65.00 and set an "outperform" rating for the company in a report on Friday, October 16th. Oppenheimer raised their target price on U.S. Bancorp from $72.00 to $73.00 and gave the stock an "outperform" rating in a research report on Friday, October 16th. Finally, BTIG Research set a $67.50 target price on U.S. Bancorp in a research report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $69.19.

U.S. Bancorp Stock Up 1.5%

USB stock opened at $59.96 on Friday. The company's 50 day moving average is $60.37 and its 200 day moving average is $59.25. The stock has a market cap of $93.42 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 1.13 and a beta of 1.00. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.87. U.S. Bancorp has a 1-year low of $45.02 and a 1-year high of $66.07.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its earnings results on Thursday, October 15th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.02. U.S. Bancorp had a net margin of 18.85% and a return on equity of 13.85%. The business had revenue of $8.04 billion during the quarter, compared to analyst estimates of $8 billion. During the same period in the previous year, the business posted $1.22 earnings per share. U.S. Bancorp's revenue for the quarter was up 8.7% on a year-over-year basis. Sell-side analysts predict that U.S. Bancorp will post 5.29 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th were given a dividend of $0.54 per share. This is an increase from U.S. Bancorp's previous quarterly dividend of $0.52. The ex-dividend date was Wednesday, September 30th. This represents a $2.16 annualized dividend and a dividend yield of 3.6%. U.S. Bancorp's dividend payout ratio is 42.11%.

Insider Buying and Selling at U.S. Bancorp

In other news, CEO Gunjan Kedia sold 27,267 shares of the firm's stock in a transaction on Friday, August 28th. The shares were sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the sale, the chief executive officer owned 426,262 shares in the company, valued at approximately $26,585,960.94. This trade represents a 6.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.21% of the company's stock.

About U.S. Bancorp

U.S. Bancorp NYSE: USB is a financial services holding company headquartered in Minneapolis, Minnesota, and the parent company of U.S. Bank National Association. U.S. Bank provides banking, lending, payment, investment and wealth-management services to individuals, businesses, institutions and government entities.

The company's consumer and business banking operations offer deposit accounts, mortgages, home-equity and consumer loans, credit cards, small-business banking and commercial lending.

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