Global Retirement Partners LLC Trims Stock Holdings in U.S. Bancorp (NYSE:USB)

Global Retirement Partners LLC lowered its stake in U.S. Bancorp (NYSE:USB) by 18.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 37,511 shares of the financial services provider’s stock after selling 8,625 shares during the quarter. Global Retirement Partners LLC’s holdings in U.S. Bancorp were worth $1,715,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of USB. Redwood Wealth Management Group LLC bought a new position in U.S. Bancorp in the 2nd quarter worth about $25,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of U.S. Bancorp during the first quarter valued at approximately $30,000. 1620 Investment Advisors Inc. bought a new stake in U.S. Bancorp in the 2nd quarter worth $30,000. Eagle Bay Advisors LLC increased its holdings 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 valued at $31,000 after purchasing an additional 331 shares during the period. Finally, LRI Investments LLC purchased a new stake in U.S. Bancorp in the first quarter worth $31,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Down 1.6 %

Shares of NYSE:USB opened at $49.16 on Friday. The business’s 50-day moving average is $45.24 and its 200 day moving average is $42.66. 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 has a 1 year low of $30.47 and a 1 year high of $50.47. The firm has a market capitalization 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.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating the consensus estimate of $0.99 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 $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same period last year, the firm posted $1.05 EPS. U.S. Bancorp’s revenue was down 2.4% on a year-over-year basis. On average, research analysts predict 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 buyback program 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 stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.07%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s dividend payout ratio is presently 66.23%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on USB. StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. UBS Group increased their price target on U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. The Goldman Sachs Group reduced their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. DA Davidson lifted their price target on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Oppenheimer upped their price objective on U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a research note on Thursday. Twelve 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 presently has a consensus rating of “Hold” and a consensus 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.