Litman Gregory Wealth Management LLC Sells 10,750 Shares of U.S. Bancorp (NYSE:USB)

Litman Gregory Wealth Management LLC lessened its position in U.S. Bancorp (NYSE:USB) by 27.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,425 shares of the financial services provider’s stock after selling 10,750 shares during the period. Litman Gregory Wealth Management LLC’s holdings in U.S. Bancorp were worth $1,300,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of USB. Global Assets Advisory LLC bought a new stake in shares of U.S. Bancorp during the 1st quarter worth about $1,340,000. Brookstone Capital Management boosted its holdings in shares of U.S. Bancorp by 2,056.5% during the 1st quarter. Brookstone Capital Management now owns 218,668 shares of the financial services provider’s stock worth $9,774,000 after buying an additional 208,528 shares during the period. Bowman & Co S.C. bought a new stake in shares of U.S. Bancorp during the 1st quarter worth about $207,000. Matrix Asset Advisors Inc. NY boosted its holdings in shares of U.S. Bancorp by 8.1% during the 1st quarter. Matrix Asset Advisors Inc. NY now owns 624,294 shares of the financial services provider’s stock worth $27,906,000 after buying an additional 46,923 shares during the period. Finally, Corundum Group Inc. boosted its holdings in shares of U.S. Bancorp by 32.9% during the 1st quarter. Corundum Group Inc. now owns 26,214 shares of the financial services provider’s stock worth $1,172,000 after buying an additional 6,491 shares during the period. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

USB stock traded up $0.07 during trading on Wednesday, reaching $48.10. 906,697 shares of the company were exchanged, compared to its average volume of 8,340,025. The company has a 50-day moving average of $45.48 and a two-hundred day moving average of $42.73. The company has a market capitalization of $75.06 billion, a price-to-earnings ratio of 15.90, a P/E/G ratio of 3.32 and a beta of 1.03. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $50.47. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The business had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.05 EPS. As a group, equities analysts predict that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp announced that its board has approved a share buyback plan 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 repurchase up to 7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.16%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s dividend payout ratio is currently 66.23%.

Insiders Place Their Bets

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 sale, the insider now directly owns 129,790 shares of the company’s stock, valued at $6,363,603.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on USB. Oppenheimer lifted their target price on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Citigroup boosted their price objective on shares of U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Robert W. Baird set a $54.00 price objective on shares of U.S. Bancorp in a report on Thursday, October 17th. The Goldman Sachs Group cut their price objective on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Finally, Barclays boosted their price objective on shares of U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $50.71.

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.