Peloton Wealth Strategists Decreases Holdings in U.S. Bancorp (NYSE:USB)

Peloton Wealth Strategists lowered its position in U.S. Bancorp (NYSE:USB) by 2.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,875 shares of the financial services provider’s stock after selling 700 shares during the period. Peloton Wealth Strategists’ holdings in U.S. Bancorp were worth $1,229,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Redwood Wealth Management Group LLC acquired a new position in shares of U.S. Bancorp during the 2nd quarter worth approximately $25,000. Frazier Financial Advisors LLC raised its holdings in shares of U.S. Bancorp by 222.7% in the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 441 shares during the last quarter. 1620 Investment Advisors Inc. acquired a new position in shares of U.S. Bancorp in the second quarter worth $30,000. Y.D. More Investments Ltd acquired a new stake in shares of U.S. Bancorp during the second quarter valued at $33,000. Finally, Kimelman & Baird LLC purchased a new stake in U.S. Bancorp during the 2nd quarter worth about $40,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on USB shares. 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 report on Thursday, October 17th. Evercore ISI raised their target price on shares of U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Stephens upped their price target on shares of U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. Royal Bank of Canada set a $53.00 price target on shares of U.S. Bancorp in a report on Thursday, October 17th. Finally, Robert W. Baird set a $54.00 target price on U.S. Bancorp in a research report on Thursday, October 17th. Twelve equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $52.72.

U.S. Bancorp Stock Performance

Shares of USB opened at $52.18 on Monday. The firm has a market cap of $81.40 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 3.08 and a beta of 1.03. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The business’s 50 day moving average is $49.13 and its two-hundred day moving average is $44.87. U.S. Bancorp has a 52-week low of $37.81 and a 52-week high of $53.98.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.04. The firm had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.05 earnings per share. Analysts forecast that U.S. Bancorp will post 3.93 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date was Monday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio (DPR) is currently 61.16%.

U.S. Bancorp announced that its Board of Directors has initiated a stock repurchase program on Thursday, September 12th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $49.03, for a total value of $1,225,750.00. Following the transaction, the insider now owns 129,790 shares of the company’s stock, valued at $6,363,603.70. This trade represents a 16.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.23% of the stock is currently owned by company insiders.

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.