U.S. Bancorp (NYSE:USB) Position Trimmed by Xponance Inc.

Xponance Inc. lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 1.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 213,563 shares of the financial services provider’s stock after selling 2,756 shares during the period. Xponance Inc.’s holdings in U.S. Bancorp were worth $8,478,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Gilbert & Cook Inc. boosted its stake in shares of U.S. Bancorp by 4.0% during the 4th quarter. Gilbert & Cook Inc. now owns 15,483 shares of the financial services provider’s stock worth $670,000 after acquiring an additional 593 shares in the last quarter. Aveo Capital Partners LLC grew its position in U.S. Bancorp by 5.6% in the 4th quarter. Aveo Capital Partners LLC now owns 11,167 shares of the financial services provider’s stock worth $483,000 after purchasing an additional 592 shares during the last quarter. TrinityPoint Wealth LLC bought a new position in shares of U.S. Bancorp during the 4th quarter worth about $308,000. Team Hewins LLC acquired a new position in shares of U.S. Bancorp during the fourth quarter valued at about $210,000. Finally, Congress Wealth Management LLC DE bought a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $491,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other U.S. Bancorp news, Director Aleem Gillani purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were bought at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the purchase, the director now owns 10,000 shares in the company, valued at approximately $449,900. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Price Performance

Shares of USB opened at $45.86 on Tuesday. 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 fifty day simple moving average is $44.46 and its 200 day simple moving average is $42.33. The company has a market cap of $71.56 billion, a price-to-earnings ratio of 15.19, a PEG ratio of 4.36 and a beta of 1.04. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $47.31.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 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 $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same period in the previous year, the firm earned $1.12 EPS. The firm’s revenue was down 4.3% compared to the same quarter last year. On average, research analysts forecast that U.S. Bancorp will post 3.87 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.50 dividend. The ex-dividend date is Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.36%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s payout ratio is currently 66.23%.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on USB shares. UBS Group boosted their price target on shares of U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Royal Bank of Canada reissued an “outperform” rating and set a $48.00 price objective on shares of U.S. Bancorp in a report on Friday, September 13th. Evercore ISI raised their price objective on shares of U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. Citigroup upped their target price on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Finally, JPMorgan Chase & Co. lowered U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective for the company. in a research report on Thursday, June 27th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, U.S. Bancorp currently has an average rating of “Hold” and a consensus target price 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.