Creative Planning Reduces Position in U.S. Bancorp (NYSE:USB)

Creative Planning reduced its stake in shares of U.S. Bancorp (NYSE:USB) by 4.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 626,474 shares of the financial services provider’s stock after selling 28,078 shares during the period. Creative Planning’s holdings in U.S. Bancorp were worth $28,649,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in USB. Redwood Wealth Management Group LLC purchased a new position in U.S. Bancorp during the 2nd quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. acquired a new position in U.S. Bancorp during the first quarter valued at $30,000. 1620 Investment Advisors Inc. purchased a new stake in U.S. Bancorp in the second quarter valued at $30,000. Eagle Bay Advisors LLC grew its position in U.S. Bancorp by 93.2% during the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 331 shares during the period. Finally, LRI Investments LLC purchased a new position in shares of U.S. Bancorp during the 1st quarter valued at about $31,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Stock Performance

NYSE:USB opened at $49.16 on Monday. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $50.47. 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 current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. The company’s 50-day moving average price is $45.24 and its 200-day moving average price is $42.66.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The business had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the previous year, the firm posted $1.05 EPS. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. On average, sell-side analysts forecast that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp declared that its Board of Directors has authorized a stock repurchase plan on Thursday, September 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to buy up to 7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.50 dividend. The ex-dividend date was Monday, September 30th. 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 dividend yield of 4.07%. U.S. Bancorp’s dividend payout ratio (DPR) is 66.23%.

Analyst Ratings Changes

USB has been the subject of several recent research reports. Barclays lifted their price target on U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a research report on Thursday. Wells Fargo & Company boosted their target price on shares of U.S. Bancorp from $52.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday. Stephens raised their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research report on Thursday. StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $54.00 to $57.00 in a research report on Monday, September 30th. Twelve equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $50.71.

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.