Dearborn Partners LLC Sells 211 Shares of U.S. Bancorp (NYSE:USB)

Dearborn Partners LLC trimmed its position in shares of U.S. Bancorp (NYSE:USB) by 0.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,718 shares of the financial services provider’s stock after selling 211 shares during the period. Dearborn Partners LLC’s holdings in U.S. Bancorp were worth $1,268,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Redwood Wealth Management Group LLC bought a new position in U.S. Bancorp during the second quarter worth about $25,000. 1620 Investment Advisors Inc. bought a new stake in shares of U.S. Bancorp in the second quarter worth $30,000. LRI Investments LLC bought a new position in U.S. Bancorp in the first quarter valued at approximately $31,000. Y.D. More Investments Ltd bought a new stake in U.S. Bancorp during the second quarter worth $33,000. Finally, Crewe Advisors LLC bought a new stake in shares of U.S. Bancorp in the 1st quarter valued at about $39,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

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 shares were 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 $6,363,603.70. The trade was a 16.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on USB shares. Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Citigroup raised their price objective on shares of U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. UBS Group upped their target price on U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Wells Fargo & Company lifted their price objective on shares of U.S. Bancorp from $52.00 to $60.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada set a $53.00 price objective on U.S. Bancorp in a report on Thursday, October 17th. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $51.12.

U.S. Bancorp Trading Down 1.7 %

Shares of U.S. Bancorp stock opened at $50.32 on Friday. The firm has a 50-day simple moving average of $46.79 and a two-hundred day simple moving average of $43.58. U.S. Bancorp has a fifty-two week low of $36.21 and a fifty-two week high of $51.76. The company has a market cap of $78.50 billion, a P/E ratio of 15.39, a price-to-earnings-growth ratio of 3.02 and a beta of 1.02. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $6.90 billion. During the same period in the previous year, the business posted $1.05 EPS. U.S. Bancorp’s revenue was down 2.4% on a year-over-year basis. As a group, equities analysts predict that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp declared that its Board of Directors has authorized a share buyback plan 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 buy 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.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.50 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s payout ratio is presently 61.16%.

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.