BSW Wealth Partners Lowers Position in U.S. Bancorp (NYSE:USB)

BSW Wealth Partners lessened its position in U.S. Bancorp (NYSE:USB) by 22.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,008 shares of the financial services provider’s stock after selling 1,997 shares during the quarter. BSW Wealth Partners’ holdings in U.S. Bancorp were worth $320,000 as of its most recent filing with the Securities & Exchange Commission.

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

U.S. Bancorp Stock Performance

Shares of USB opened at $47.84 on Monday. The business has a 50-day simple moving average of $46.23 and a two-hundred day simple moving average of $43.09. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a 52 week low of $32.39 and a 52 week high of $50.47. The stock has a market cap of $74.65 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 2.86 and a beta of 1.02.

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 12.92% and a return on equity of 12.91%. The company had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. During the same period in the prior year, the firm posted $1.05 EPS. The firm’s quarterly revenue was down 2.4% compared to the same quarter last year. On average, analysts expect that U.S. Bancorp will post 3.92 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders 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 4.18%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

U.S. Bancorp announced that its Board of Directors has initiated a stock buyback program 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 purchase up to 7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have commented on USB. Morgan Stanley raised U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $54.00 to $57.00 in a report on Monday, September 30th. UBS Group lifted their price objective on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. DA Davidson upped their target price on shares of U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Robert W. Baird set a $54.00 price target on shares of U.S. Bancorp in a research note on Thursday, October 17th. Finally, Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a research report on Thursday, October 17th. Thirteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $50.87.

Insiders Place Their Bets

In related news, insider Jodi L. Richard sold 25,000 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the sale, the insider now directly owns 129,790 shares in the company, valued at approximately $6,363,603.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.23% of the stock is currently owned by company insiders.

About U.S. Bancorp

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.