Exeter Financial LLC Sells 2,100 Shares of U.S. Bancorp (NYSE:USB)

Exeter Financial LLC reduced its stake in shares of U.S. Bancorp (NYSE:USB) by 2.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,027 shares of the financial services provider’s stock after selling 2,100 shares during the period. U.S. Bancorp accounts for approximately 1.6% of Exeter Financial LLC’s portfolio, making the stock its 25th biggest holding. Exeter Financial LLC’s holdings in U.S. Bancorp were worth $3,568,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Kure Advisory LLC acquired a new stake in shares of U.S. Bancorp in the third quarter valued at about $222,000. Fulton Bank N.A. grew its position in U.S. Bancorp by 9.9% during the third quarter. Fulton Bank N.A. now owns 52,749 shares of the financial services provider’s stock worth $2,412,000 after buying an additional 4,739 shares in the last quarter. MKT Advisors LLC acquired a new stake in U.S. Bancorp during the third quarter worth about $220,000. Miracle Mile Advisors LLC grew its position in U.S. Bancorp by 11.8% during the third quarter. Miracle Mile Advisors LLC now owns 7,898 shares of the financial services provider’s stock worth $361,000 after buying an additional 834 shares in the last quarter. Finally, Everpar Advisors LLC lifted its stake in U.S. Bancorp by 3.9% during the third quarter. Everpar Advisors LLC now owns 14,186 shares of the financial services provider’s stock worth $649,000 after purchasing an additional 531 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Insider Activity at U.S. Bancorp

In related news, Director Aleem Gillani acquired 10,000 shares of the stock in a transaction on Thursday, July 18th. The shares were acquired at an average price of $44.99 per share, with a total value of $449,900.00. Following the completion of the transaction, the director now owns 10,000 shares in the company, valued at approximately $449,900. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.23% of the stock is owned by insiders.

U.S. Bancorp Stock Down 0.5 %

Shares of NYSE USB opened at $44.47 on Tuesday. The stock has a market capitalization of $69.39 billion, a P/E ratio of 14.73, a P/E/G ratio of 3.06 and a beta of 1.03. The company has a 50-day moving average price of $44.47 and a 200-day moving average price of $42.46. U.S. Bancorp has a 1 year low of $30.47 and a 1 year high of $47.31. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. The firm had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The business’s revenue was down 4.3% on a year-over-year basis. During the same period last year, the company earned $1.12 earnings per share. On average, equities research analysts forecast that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp announced that its board has initiated a stock repurchase plan on Thursday, September 12th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The company 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 dividend of $0.50 per share. This is a positive change 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 4.50%. The ex-dividend date is Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 66.23%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on USB. Evercore ISI raised their price target on shares of U.S. Bancorp from $49.00 to $51.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. Jefferies Financial Group lowered their target price on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a report on Wednesday, July 3rd. StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. Citigroup lifted their target price on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Finally, UBS Group lifted their target price on shares of U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, U.S. Bancorp has an average rating of “Hold” and an average price target of $48.65.

About U.S. Bancorp

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.