Dynamic Advisor Solutions LLC Reduces Position in U.S. Bancorp (NYSE:USB)

Dynamic Advisor Solutions LLC decreased its stake in shares of U.S. Bancorp (NYSE:USB) by 6.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,944 shares of the financial services provider’s stock after selling 1,021 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in U.S. Bancorp were worth $683,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Redwood Wealth Management Group LLC acquired a new stake in shares of U.S. Bancorp during the 2nd quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. purchased a new position in U.S. Bancorp in the first quarter worth approximately $30,000. 1620 Investment Advisors Inc. acquired a new stake in U.S. Bancorp during the second quarter worth $30,000. Eagle Bay Advisors LLC raised its position in U.S. Bancorp by 93.2% in the first 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 acquired a new position in shares of U.S. Bancorp in the 1st quarter valued at $31,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insider Transactions at U.S. Bancorp

In related news, Director Aleem Gillani purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The shares were purchased at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $449,900. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Up 2.9 %

U.S. Bancorp stock opened at $46.27 on Friday. The company has a market capitalization of $72.19 billion, a P/E ratio of 15.32, a PEG ratio of 3.32 and a beta of 1.03. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a fifty-two week low of $30.47 and a fifty-two week high of $47.31. The stock has a 50-day simple moving average of $44.55 and a 200-day simple moving average of $42.51.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $6.81 billion. During the same period in the prior year, the company earned $1.12 earnings per share. The company’s revenue was down 4.3% compared to the same quarter last year. Equities research analysts expect that U.S. Bancorp will post 3.86 earnings per share for the current year.

U.S. Bancorp declared that its board has initiated a share buyback 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 reacquire up to 7% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.32%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date is Monday, September 30th. U.S. Bancorp’s dividend payout ratio is presently 66.23%.

Wall Street Analysts Forecast Growth

USB has been the subject of a number of recent analyst reports. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Oppenheimer lifted their price objective on shares of U.S. Bancorp from $54.00 to $57.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Evercore ISI lifted their target price on U.S. Bancorp from $49.00 to $51.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. The Goldman Sachs Group cut their price target on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Finally, DA Davidson lifted their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Twelve investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $49.14.

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.