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

Resources Management Corp CT ADV reduced its position in shares of U.S. Bancorp (NYSE:USB) by 1.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,275 shares of the financial services provider’s stock after selling 315 shares during the period. Resources Management Corp CT ADV’s holdings in U.S. Bancorp were worth $924,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in USB. Gilbert & Cook Inc. raised its holdings in U.S. Bancorp by 4.0% during the fourth quarter. Gilbert & Cook Inc. now owns 15,483 shares of the financial services provider’s stock worth $670,000 after purchasing an additional 593 shares in the last quarter. Aveo Capital Partners LLC grew its position in U.S. Bancorp by 5.6% during the fourth quarter. Aveo Capital Partners LLC now owns 11,167 shares of the financial services provider’s stock worth $483,000 after buying an additional 592 shares during the period. TrinityPoint Wealth LLC acquired a new position in U.S. Bancorp during the fourth quarter worth about $308,000. Team Hewins LLC acquired a new position in U.S. Bancorp during the fourth quarter worth about $210,000. Finally, Congress Wealth Management LLC DE acquired a new position in U.S. Bancorp during the fourth quarter worth about $491,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other U.S. Bancorp news, Director Aleem Gillani bought 10,000 shares of the business’s stock in a transaction dated 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 purchase, the director now owns 10,000 shares in the company, valued at approximately $449,900. The purchase was disclosed in a document filed with the SEC, which is available through this link. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Stock Performance

NYSE:USB opened at $45.86 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. The company has a market cap of $71.56 billion, a P/E ratio of 15.19, a P/E/G ratio of 4.36 and a beta of 1.04. U.S. Bancorp has a fifty-two week low of $30.47 and a fifty-two week high of $47.31. The firm’s 50 day moving average is $44.46 and its two-hundred day moving average is $42.33.

U.S. Bancorp (NYSE:USB) last posted its quarterly 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. The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. U.S. Bancorp’s revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.12 earnings per share. Analysts expect that U.S. Bancorp will post 3.87 EPS for the current year.

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

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is currently 66.23%.

Analysts Set New Price Targets

Several brokerages have weighed in on USB. Morgan Stanley upped their target price on shares of U.S. Bancorp from $47.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. 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. Evercore ISI upped their target price on shares of U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. JPMorgan Chase & Co. lowered shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price on the stock. in a research report on Thursday, June 27th. Finally, DA Davidson increased their price target on shares of U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Thirteen investment analysts have rated the stock with a hold rating and seven have issued 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.