EverSource Wealth Advisors LLC Sells 381 Shares of U.S. Bancorp (NYSE:USB)

EverSource Wealth Advisors LLC trimmed its position in shares of U.S. Bancorp (NYSE:USB) by 8.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,012 shares of the financial services provider’s stock after selling 381 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in U.S. Bancorp were worth $159,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Valmark Advisers Inc. raised its holdings in U.S. Bancorp by 2.9% during the 2nd quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock worth $346,000 after buying an additional 242 shares during the period. Waldron Private Wealth LLC lifted its position in U.S. Bancorp by 1.9% in the 2nd quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock valued at $534,000 after acquiring an additional 247 shares in the last quarter. Naples Global Advisors LLC boosted its stake in U.S. Bancorp by 0.4% in the 2nd quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock worth $2,624,000 after purchasing an additional 248 shares during the period. Kavar Capital Partners Group LLC increased its holdings in U.S. Bancorp by 4.7% during the 2nd quarter. Kavar Capital Partners Group LLC now owns 5,555 shares of the financial services provider’s stock worth $221,000 after purchasing an additional 250 shares in the last quarter. Finally, STAR Financial Bank raised its stake in shares of U.S. Bancorp by 3.3% in the 2nd quarter. STAR Financial Bank now owns 7,772 shares of the financial services provider’s stock valued at $309,000 after purchasing an additional 250 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Citigroup upped their price objective 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. Morgan Stanley lifted their price objective on shares of U.S. Bancorp from $47.00 to $54.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Jefferies Financial Group reduced 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. UBS Group lifted their price target on shares of U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Finally, StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $48.18.

Insider Transactions at U.S. Bancorp

In other news, Director Aleem Gillani purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was acquired at an average cost of $44.99 per share, with a total value of $449,900.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at approximately $449,900. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Performance

USB opened at $45.30 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a 12-month low of $30.47 and a 12-month high of $47.31. The business has a 50 day moving average of $44.50 and a 200-day moving average of $42.36. The stock has a market cap of $70.69 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 3.06 and a beta of 1.04.

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

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.50 per share. The ex-dividend date is Monday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 4.42%. U.S. Bancorp’s dividend payout ratio (DPR) is 66.23%.

U.S. Bancorp announced that its board has authorized a share buyback program on Thursday, September 12th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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.