Community Bank of Raymore Sells 10,802 Shares of U.S. Bancorp (NYSE:USB)

Community Bank of Raymore cut its position in U.S. Bancorp (NYSE:USB) by 12.6% in the third quarter, HoldingsChannel.com reports. The firm owned 75,139 shares of the financial services provider’s stock after selling 10,802 shares during the quarter. U.S. Bancorp comprises about 2.6% of Community Bank of Raymore’s investment portfolio, making the stock its 12th biggest holding. Community Bank of Raymore’s holdings in U.S. Bancorp were worth $3,436,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Redwood Wealth Management Group LLC purchased a new stake in shares of U.S. Bancorp in the second quarter worth $25,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of U.S. Bancorp in the first quarter worth $30,000. 1620 Investment Advisors Inc. purchased a new position in U.S. Bancorp during the second quarter valued at $30,000. Eagle Bay Advisors LLC grew its stake in U.S. Bancorp by 93.2% during the first 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 in the last quarter. Finally, LRI Investments LLC purchased a new position in U.S. Bancorp during the first quarter valued at $31,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on USB. UBS Group raised their target price 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $48.00 target price on shares of U.S. Bancorp in a research note on Friday, September 13th. Evercore ISI raised their target price on shares of U.S. Bancorp from $49.00 to $51.00 and gave the company an “in-line” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company raised their target price on shares of U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. Finally, DA Davidson lifted their price objective on shares of U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $49.29.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $49.21 on Thursday. The firm has a 50-day moving average price of $44.94 and a 200-day moving average price of $42.58. The firm has a market capitalization of $76.78 billion, a PE ratio of 16.29, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03. 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 12-month low of $30.47 and a 12-month high of $50.11.

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

U.S. Bancorp announced that its Board of Directors has authorized a share repurchase plan on Thursday, September 12th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors 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 issued a dividend of $0.50 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.06%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 66.23%.

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.