KPP Advisory Services LLC Lowers Position in U.S. Bancorp (NYSE:USB)

KPP Advisory Services LLC lessened its holdings in shares of U.S. Bancorp (NYSE:USB) by 5.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,919 shares of the financial services provider’s stock after selling 2,667 shares during the quarter. KPP Advisory Services LLC’s holdings in U.S. Bancorp were worth $1,744,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of USB. Redwood Wealth Management Group LLC bought a new stake in shares of U.S. Bancorp in the 2nd quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. bought a new stake in U.S. Bancorp in the first quarter valued at approximately $30,000. 1620 Investment Advisors Inc. purchased a new stake in shares of U.S. Bancorp during the second quarter valued at approximately $30,000. Eagle Bay Advisors LLC increased 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 during the period. Finally, LRI Investments LLC bought a new stake in U.S. Bancorp during the 1st quarter valued at $31,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

USB opened at $45.73 on Tuesday. The company’s 50-day simple moving average is $44.54 and its two-hundred day simple moving average is $42.40. U.S. Bancorp has a 52-week low of $30.47 and a 52-week high of $47.31. The stock has a market capitalization of $71.36 billion, a P/E ratio of 15.14, a P/E/G ratio of 3.06 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last announced its earnings results 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. The business had revenue of $6.87 billion during the quarter, compared to analyst estimates of $6.81 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.12 EPS. As a group, analysts predict that U.S. Bancorp will post 3.86 EPS for the current year.

U.S. Bancorp Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.50 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.37%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 66.23%.

U.S. Bancorp announced that its board has approved a share repurchase 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 reacquire up to 7% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group decreased their price objective on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. JPMorgan Chase & Co. cut U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective for the company. in a report on Thursday, June 27th. StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $48.00 price target on shares of U.S. Bancorp in a report on Friday, September 13th. Finally, Jefferies Financial Group dropped their target price on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating for the company in a research report on Wednesday, July 3rd. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $48.34.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani purchased 10,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The shares were acquired at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $449,900. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.23% of the stock is currently owned by company insiders.

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.