Richardson Financial Services Inc. Trims Stock Holdings in U.S. Bancorp (NYSE:USB)

Richardson Financial Services Inc. decreased its position in U.S. Bancorp (NYSE:USB) by 8.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,471 shares of the financial services provider’s stock after selling 479 shares during the period. Richardson Financial Services Inc.’s holdings in U.S. Bancorp were worth $217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Redwood Wealth Management Group LLC purchased a new stake in U.S. Bancorp in the 2nd quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. purchased a new position in U.S. Bancorp during the first quarter worth approximately $30,000. 1620 Investment Advisors Inc. acquired a new stake in U.S. Bancorp in the second quarter valued at approximately $30,000. Eagle Bay Advisors LLC increased its position in shares of U.S. Bancorp by 93.2% in the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after buying an additional 331 shares in the last quarter. Finally, LRI Investments LLC acquired a new position in shares of U.S. Bancorp during the 1st quarter worth approximately $31,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In related news, Director Aleem Gillani bought 10,000 shares of the stock in a transaction on Thursday, July 18th. The stock was bought at an average price of $44.99 per share, with a total value of $449,900.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $449,900. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.23% of the stock is owned by insiders.

U.S. Bancorp Price Performance

Shares of USB stock opened at $46.46 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. The company has a market capitalization of $72.50 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 4.36 and a beta of 1.04. The firm’s 50-day moving average is $44.31 and its two-hundred day moving average is $42.30. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $47.31.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. The firm had revenue of $6.87 billion for the quarter, compared to analysts’ expectations of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.12 earnings per share. Analysts predict that U.S. Bancorp will post 3.87 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.30%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 66.23%.

Wall Street Analyst Weigh In

USB has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their price target on shares of U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. Morgan Stanley lifted their target price on shares of U.S. Bancorp from $47.00 to $54.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 30th. Jefferies Financial Group reduced their price target on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. cut U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective on the stock. in a report on Thursday, June 27th. Finally, Citigroup increased their target price on U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, U.S. Bancorp presently has an average rating of “Hold” and an average price target of $48.18.

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.