Shepherd Financial Partners LLC Purchases 1,223 Shares of U.S. Bancorp (NYSE:USB)

Shepherd Financial Partners LLC boosted its position in U.S. Bancorp (NYSE:USB) by 8.2% in the third quarter, HoldingsChannel reports. The firm owned 16,186 shares of the financial services provider’s stock after buying an additional 1,223 shares during the quarter. Shepherd Financial Partners LLC’s holdings in U.S. Bancorp were worth $740,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Redwood Wealth Management Group LLC bought a new position in shares of U.S. Bancorp in the second quarter valued at approximately $25,000. 1620 Investment Advisors Inc. purchased a new position in U.S. Bancorp in the second quarter worth $30,000. Eagle Bay Advisors LLC grew its stake 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 purchasing an additional 331 shares during the period. LRI Investments LLC purchased a new stake in shares of U.S. Bancorp during the 1st quarter valued at $31,000. Finally, Y.D. More Investments Ltd bought a new stake in shares of U.S. Bancorp during the 2nd quarter worth $33,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

NYSE:USB traded up $0.25 during mid-day trading on Friday, reaching $48.56. The stock had a trading volume of 1,470,679 shares, compared to its average volume of 8,302,212. The stock has a market capitalization of $75.78 billion, a P/E ratio of 14.77, a P/E/G ratio of 2.88 and a beta of 1.03. The firm has a 50 day moving average price of $46.18 and a two-hundred day moving average price of $43.00. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a one year low of $32.39 and a one year high of $50.47.

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 for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The firm had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same period in the previous year, the business posted $1.05 EPS. The business’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, analysts expect that U.S. Bancorp will post 3.92 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.50 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.12%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 61.16%.

U.S. Bancorp announced that its board has authorized a stock repurchase 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 buy up to 7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms recently weighed in on USB. DA Davidson increased their price target on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Evercore ISI increased their target price on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research report on Wednesday. Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $54.00 to $57.00 in a research note on Monday, September 30th. Barclays increased their price objective on U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, The Goldman Sachs Group lowered their target price on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Thirteen 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 stock presently has an average rating of “Hold” and a consensus price target of $50.87.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the transaction, the insider now owns 129,790 shares in the company, valued at approximately $6,363,603.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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.