Ellenbecker Investment Group Sells 940 Shares of U.S. Bancorp (NYSE:USB)

Ellenbecker Investment Group trimmed its holdings in shares of U.S. Bancorp (NYSE:USB) by 11.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,430 shares of the financial services provider’s stock after selling 940 shares during the quarter. Ellenbecker Investment Group’s holdings in U.S. Bancorp were worth $340,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Redwood Wealth Management Group LLC purchased a new stake in shares of U.S. Bancorp during the 2nd quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. purchased a new position in shares of U.S. Bancorp during the first quarter worth approximately $30,000. 1620 Investment Advisors Inc. purchased a new position in U.S. Bancorp in the 2nd quarter worth $30,000. Eagle Bay Advisors LLC lifted its stake in U.S. Bancorp by 93.2% in the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 331 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in U.S. Bancorp during the first quarter valued at about $31,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

U.S. Bancorp Price Performance

NYSE USB opened at $49.65 on Friday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. The business’s fifty day moving average is $45.10 and its 200 day moving average is $42.63. The company has a market capitalization of $77.48 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03. U.S. Bancorp has a fifty-two week low of $30.47 and a fifty-two week high of $50.47.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The company had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the previous year, the firm posted $1.05 earnings per share. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. Sell-side analysts predict that U.S. Bancorp will post 3.86 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend was Monday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s payout ratio is 66.23%.

U.S. Bancorp announced that its board has authorized a share repurchase program 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 programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

USB has been the subject of several research reports. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Wells Fargo & Company increased their target price on U.S. Bancorp from $52.00 to $60.00 and gave the stock an “overweight” rating in a research report on Thursday. Evercore ISI increased their target price on U.S. Bancorp from $49.00 to $51.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $48.00 target price on shares of U.S. Bancorp in a research report on Friday, September 13th. Finally, The Goldman Sachs Group decreased their target price on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $50.34.

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.