Financial Partners Group LLC Grows Stock Holdings in U.S. Bancorp (NYSE:USB)

Financial Partners Group LLC increased its stake in U.S. Bancorp (NYSE:USB) by 9.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,451 shares of the financial services provider’s stock after buying an additional 547 shares during the quarter. Financial Partners Group LLC’s holdings in U.S. Bancorp were worth $295,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in USB. Redwood Wealth Management Group LLC bought a new position in shares of U.S. Bancorp in the second quarter worth approximately $25,000. LRI Investments LLC purchased a new position in U.S. Bancorp in the 1st quarter worth approximately $31,000. Eagle Bay Advisors LLC lifted its position in U.S. Bancorp by 93.2% in the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 331 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new stake in U.S. Bancorp during the 2nd quarter valued at $30,000. Finally, Y.D. More Investments Ltd bought a new stake in shares of U.S. Bancorp in the 2nd quarter worth $33,000. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 0.2 %

Shares of USB opened at $48.45 on Friday. The business’s 50 day moving average is $45.61 and its 200 day moving average is $42.77. The company has a current ratio of 0.81, a quick ratio of 0.80 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 company has a market capitalization of $75.60 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03.

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

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.50 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s payout ratio is currently 66.23%.

U.S. Bancorp declared that its board has approved a share repurchase plan on Thursday, September 12th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on USB. Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a report on Thursday, October 17th. Citigroup upped their target price on shares of U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Jefferies Financial Group dropped their price target on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. The Goldman Sachs Group reduced their price objective on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Finally, Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $54.00 to $57.00 in a report on Monday, September 30th. Thirteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $50.72.

Insiders Place Their Bets

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 shares were 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 of the company’s stock, valued at $6,363,603.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Company 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.