Osborne Partners Capital Management LLC Sells 1,193 Shares of U.S. Bancorp (NYSE:USB)

Osborne Partners Capital Management LLC trimmed its position in shares of U.S. Bancorp (NYSE:USB) by 16.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,082 shares of the financial services provider’s stock after selling 1,193 shares during the quarter. Osborne Partners Capital Management LLC’s holdings in U.S. Bancorp were worth $278,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Redwood Wealth Management Group LLC bought a new stake in U.S. Bancorp during the second quarter valued at about $25,000. 1620 Investment Advisors Inc. bought a new position in U.S. Bancorp in the second quarter worth approximately $30,000. Eagle Bay Advisors LLC increased its position in shares of 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 worth $31,000 after purchasing an additional 331 shares in the last quarter. LRI Investments LLC acquired a new position in shares of U.S. Bancorp during the first quarter worth $31,000. Finally, Y.D. More Investments Ltd acquired a new position in shares of U.S. Bancorp in the 2nd quarter valued at $33,000. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Price Performance

Shares of USB opened at $47.74 on Friday. U.S. Bancorp has a 1-year low of $30.47 and a 1-year high of $50.47. The stock has a market cap of $74.50 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 2.85 and a beta of 1.03. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a fifty day moving average price of $45.81 and a 200 day moving average price of $42.83.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 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 for the quarter, compared to analyst estimates of $6.90 billion. During the same period 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. As a group, sell-side analysts anticipate that U.S. Bancorp will post 3.9 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.19%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s payout ratio is 66.23%.

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

Wall Street Analysts Forecast Growth

USB has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a report on Thursday. StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, July 17th. The Goldman Sachs Group cut their price target 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. UBS Group raised their price target on shares of U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Finally, Barclays lifted their target price 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. Thirteen investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Hold” and a consensus target price of $50.72.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company 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.