Doliver Advisors LP Reduces Stock Position in U.S. Bancorp (NYSE:USB)

Doliver Advisors LP decreased its holdings in U.S. Bancorp (NYSE:USB) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,694 shares of the financial services provider’s stock after selling 450 shares during the period. Doliver Advisors LP’s holdings in U.S. Bancorp were worth $1,312,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Jones Financial Companies Lllp lifted its holdings in U.S. Bancorp by 7.7% during the 4th quarter. Jones Financial Companies Lllp now owns 9,028 shares of the financial services provider’s stock valued at $391,000 after buying an additional 647 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in shares of U.S. Bancorp during the fourth quarter valued at approximately $426,000. Edge Capital Group LLC boosted its holdings in shares of U.S. Bancorp by 6.7% in the fourth quarter. Edge Capital Group LLC now owns 13,067 shares of the financial services provider’s stock valued at $566,000 after purchasing an additional 821 shares during the period. Tower Research Capital LLC TRC grew its stake in U.S. Bancorp by 179.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 222,730 shares of the financial services provider’s stock worth $9,640,000 after purchasing an additional 143,130 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in U.S. Bancorp by 26.3% during the 4th quarter. Oppenheimer & Co. Inc. now owns 181,399 shares of the financial services provider’s stock worth $7,851,000 after purchasing an additional 37,765 shares during the period. 77.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on USB. UBS Group upped their target price on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. The Goldman Sachs Group dropped their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Jefferies Financial Group reduced their price target 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. Oppenheimer increased their price objective on shares of U.S. Bancorp from $54.00 to $57.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Citigroup boosted their price objective on shares of U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Twelve equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, U.S. Bancorp has a consensus rating of “Hold” and a consensus target price of $48.65.

U.S. Bancorp Stock Down 0.5 %

NYSE:USB opened at $44.25 on Thursday. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $47.31. The company has a market cap of $69.05 billion, a PE ratio of 14.65, a P/E/G ratio of 3.06 and a beta of 1.04. The company’s 50 day moving average is $44.51 and its two-hundred day moving average is $42.43.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. The firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.12 earnings per share. Analysts anticipate that U.S. Bancorp will post 3.86 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.52%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 66.23%.

U.S. Bancorp declared that its Board of Directors has initiated a stock buyback plan on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other U.S. Bancorp news, Director Aleem Gillani purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, July 18th. The shares were bought at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at $449,900. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.