Buck Wealth Strategies LLC Trims Stake in U.S. Bancorp (NYSE:USB)

Buck Wealth Strategies LLC reduced its position in U.S. Bancorp (NYSE:USB) by 88.3% in the 2nd quarter, Holdings Channel reports. The firm owned 12,948 shares of the financial services provider’s stock after selling 97,338 shares during the period. Buck Wealth Strategies LLC’s holdings in U.S. Bancorp were worth $514,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Redwood Wealth Management Group LLC purchased a new stake in shares of U.S. Bancorp in the 2nd quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in U.S. Bancorp during the 1st quarter valued at approximately $30,000. 1620 Investment Advisors Inc. purchased a new stake in U.S. Bancorp during the 2nd quarter valued at approximately $30,000. Eagle Bay Advisors LLC raised its stake 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 acquiring an additional 331 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in U.S. Bancorp during the 1st quarter valued at approximately $31,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

USB stock opened at $45.48 on Friday. 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 quick ratio of 0.80 and a current ratio of 0.81. The stock’s 50 day moving average price is $44.53 and its 200 day moving average price is $42.39. The firm has a market cap of $70.97 billion, a P/E ratio of 15.06, a PEG ratio of 3.06 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last posted its earnings results 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. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same quarter in the prior year, the company earned $1.12 EPS. U.S. Bancorp’s revenue was down 4.3% on a year-over-year basis. On average, sell-side analysts expect that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.50 dividend. The ex-dividend date is Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.40%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio is presently 66.23%.

U.S. Bancorp declared that its Board of Directors has authorized a stock repurchase program on Thursday, September 12th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to purchase up to 7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts have commented on USB shares. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Morgan Stanley boosted their target price on 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 boosted their target price on U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. DA Davidson boosted their target price on U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Finally, Evercore ISI boosted their target price on 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. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $48.18.

Insiders Place Their Bets

In other U.S. Bancorp news, Director Aleem Gillani purchased 10,000 shares of U.S. Bancorp stock in a transaction on Thursday, July 18th. The shares were bought at an average price of $44.99 per share, with a total value of $449,900.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $449,900. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp 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.