Resources Management Corp CT ADV Trims Stock Position in U.S. Bancorp (NYSE:USB)

Resources Management Corp CT ADV lessened its position in shares of U.S. Bancorp (NYSE:USB) by 1.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,275 shares of the financial services provider’s stock after selling 315 shares during the quarter. Resources Management Corp CT ADV’s holdings in U.S. Bancorp were worth $924,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Evergreen Capital Management LLC increased its holdings in U.S. Bancorp by 8.7% in the 2nd quarter. Evergreen Capital Management LLC now owns 14,736 shares of the financial services provider’s stock valued at $592,000 after purchasing an additional 1,183 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in U.S. Bancorp by 8.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 264,600 shares of the financial services provider’s stock valued at $10,505,000 after purchasing an additional 19,638 shares during the last quarter. DRW Securities LLC acquired a new stake in U.S. Bancorp in the 2nd quarter valued at approximately $375,000. Fairscale Capital LLC acquired a new stake in U.S. Bancorp in the 2nd quarter valued at approximately $53,000. Finally, RW Investment Management LLC increased its holdings in U.S. Bancorp by 60.4% in the 2nd quarter. RW Investment Management LLC now owns 48,455 shares of the financial services provider’s stock valued at $1,924,000 after purchasing an additional 18,237 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani bought 10,000 shares of U.S. Bancorp stock in a transaction dated Thursday, July 18th. The stock was acquired at an average cost of $44.99 per share, with a total value of $449,900.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at $449,900. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.23% of the stock is owned by corporate insiders.

U.S. Bancorp Price Performance

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

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The firm had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same period in the previous year, the company earned $1.12 earnings per share. U.S. Bancorp’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that U.S. Bancorp will post 3.87 EPS for the current year.

U.S. Bancorp announced that its Board of Directors has approved a share repurchase plan on Thursday, September 12th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to repurchase up to 7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a $0.50 dividend. The ex-dividend date is Monday, September 30th. This is a boost 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 4.36%. U.S. Bancorp’s payout ratio is 66.23%.

Wall Street Analyst Weigh In

USB has been the subject of several research reports. JPMorgan Chase & Co. downgraded shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price for the company. in a report on Thursday, June 27th. Citigroup lifted their target price on shares of U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a report 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 for the company in a research note on Wednesday, July 3rd. The Goldman Sachs Group dropped their price target on shares of 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, Royal Bank of Canada restated an “outperform” rating and issued a $48.00 price target on shares of U.S. Bancorp in a research note on Friday, September 13th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Hold” and an average target price of $48.18.

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.