U.S. Bancorp (NYSE:USB) Shares Sold by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC trimmed its holdings in U.S. Bancorp (NYSE:USB) by 7.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,488 shares of the financial services provider’s stock after selling 4,922 shares during the period. Resonant Capital Advisors LLC’s holdings in U.S. Bancorp were worth $2,935,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Valmark Advisers Inc. raised its position in shares of U.S. Bancorp by 2.9% in the 2nd quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock valued at $346,000 after purchasing an additional 242 shares in the last quarter. Waldron Private Wealth LLC raised its position in shares of U.S. Bancorp by 1.9% during the 2nd quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock valued at $534,000 after acquiring an additional 247 shares in the last quarter. Naples Global Advisors LLC raised its position in shares of U.S. Bancorp by 0.4% during the 2nd quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock valued at $2,624,000 after acquiring an additional 248 shares in the last quarter. Kavar Capital Partners Group LLC raised its position in shares of U.S. Bancorp by 4.7% during the 2nd quarter. Kavar Capital Partners Group LLC now owns 5,555 shares of the financial services provider’s stock valued at $221,000 after acquiring an additional 250 shares in the last quarter. Finally, STAR Financial Bank raised its position in shares of U.S. Bancorp by 3.3% during the 2nd quarter. STAR Financial Bank now owns 7,772 shares of the financial services provider’s stock valued at $309,000 after acquiring an additional 250 shares in the last quarter. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $49.16 on Friday. The company has a market cap of $76.71 billion, a P/E ratio of 16.28, a P/E/G ratio of 3.32 and a beta of 1.03. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $50.47. The business’s 50 day moving average is $45.24 and its two-hundred day moving average is $42.66.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.99 by $0.04. The business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. U.S. Bancorp’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.05 EPS. On average, equities analysts expect that U.S. Bancorp will post 3.86 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.50 dividend. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.00 annualized dividend and a yield of 4.07%. U.S. Bancorp’s payout ratio is currently 66.23%.

U.S. Bancorp announced that its Board of Directors has approved a stock buyback plan on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Robert W. Baird set a $54.00 price target on U.S. Bancorp in a research report on Thursday. Citigroup increased their target price on U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Jefferies Financial Group decreased their price target on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a research note on Wednesday, July 3rd. Evercore ISI increased their price target on U.S. Bancorp from $49.00 to $51.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. cut U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price for the company. in a research note on Thursday, June 27th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $50.71.

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.