TRUE Private Wealth Advisors Sells 3,802 Shares of U.S. Bancorp (NYSE:USB)

TRUE Private Wealth Advisors trimmed its holdings in shares of U.S. Bancorp (NYSE:USB) by 4.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 76,836 shares of the financial services provider’s stock after selling 3,802 shares during the quarter. TRUE Private Wealth Advisors’ holdings in U.S. Bancorp were worth $3,514,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Redwood Wealth Management Group LLC bought a new stake in shares of U.S. Bancorp during the second quarter worth $25,000. Frazier Financial Advisors LLC boosted its stake in U.S. Bancorp by 222.7% in the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 441 shares during the period. LRI Investments LLC bought a new position in U.S. Bancorp during the 1st quarter worth about $31,000. 1620 Investment Advisors Inc. acquired a new stake in shares of U.S. Bancorp in the 2nd quarter valued at about $30,000. Finally, Y.D. More Investments Ltd bought a new stake in shares of U.S. Bancorp in the second quarter valued at about $33,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on USB. Evercore ISI increased their price objective on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. Royal Bank of Canada set a $53.00 price target on shares of U.S. Bancorp in a research note on Thursday, October 17th. Stephens boosted their price objective on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Oppenheimer raised their target price on shares of U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $54.00 to $57.00 in a research note on Monday, September 30th. Twelve equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Hold” and an average price target of $52.02.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $53.29 on Friday. U.S. Bancorp has a 52 week low of $37.67 and a 52 week high of $53.98. The company has a market capitalization of $83.13 billion, a price-to-earnings ratio of 16.30, a PEG ratio of 3.15 and a beta of 1.02. The company has a 50-day simple moving average of $48.44 and a 200 day simple moving average of $44.44. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The company had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same quarter in the previous year, the business posted $1.05 earnings per share. U.S. Bancorp’s quarterly revenue was down 2.4% on a year-over-year basis. On average, sell-side analysts predict that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.50 dividend. The ex-dividend date was Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 3.75%. U.S. Bancorp’s payout ratio is presently 61.16%.

U.S. Bancorp announced that its Board of Directors has authorized a stock repurchase program on Thursday, September 12th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the transaction, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.23% of the stock is currently owned by insiders.

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.