Wallace Advisory Group LLC Decreases Stock Holdings in U.S. Bancorp (NYSE:USB)

Wallace Advisory Group LLC lessened its stake in U.S. Bancorp (NYSE:USB) by 6.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,814 shares of the financial services provider’s stock after selling 883 shares during the period. Wallace Advisory Group LLC’s holdings in U.S. Bancorp were worth $509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Redwood Wealth Management Group LLC bought a new stake in shares of U.S. Bancorp in the 2nd quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. purchased a new stake in U.S. Bancorp during the first quarter valued at approximately $30,000. 1620 Investment Advisors Inc. acquired a new stake in U.S. Bancorp in the second quarter valued at approximately $30,000. Eagle Bay Advisors LLC grew its holdings 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 acquired a new position in shares of U.S. Bancorp during the first quarter worth $31,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

USB has been the subject of a number of recent analyst reports. Evercore ISI raised their price objective on U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. Citigroup increased their price target on U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. DA Davidson boosted their price target on U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Wells Fargo & Company increased their price objective on shares of U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. Finally, StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $48.18.

Insiders Place Their Bets

In other news, Director Aleem Gillani bought 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was purchased at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $449,900. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Up 0.4 %

Shares of U.S. Bancorp stock opened at $45.48 on Monday. The stock has a market cap of $70.97 billion, a PE ratio of 15.06, a price-to-earnings-growth ratio of 3.06 and a beta of 1.04. The firm has a fifty day moving average price of $44.53 and a 200 day moving average price of $42.38. U.S. Bancorp has a 1 year low of $30.47 and a 1 year high of $47.31. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The business had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.81 billion. During the same quarter last year, the business posted $1.12 EPS. The company’s revenue was down 4.3% on a year-over-year basis. Equities research analysts predict that U.S. Bancorp will post 3.86 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a yield of 4.40%. U.S. Bancorp’s payout ratio is presently 66.23%.

U.S. Bancorp declared that its Board of Directors has authorized a stock buyback plan on Thursday, September 12th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.