Brady Family Wealth LLC Sells 353 Shares of U.S. Bancorp (NYSE:USB)

Brady Family Wealth LLC decreased its position in U.S. Bancorp (NYSE:USB) by 0.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,524 shares of the financial services provider’s stock after selling 353 shares during the period. Brady Family Wealth LLC’s holdings in U.S. Bancorp were worth $1,762,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Valmark Advisers Inc. boosted its stake in U.S. Bancorp by 2.9% in the 2nd quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock valued at $346,000 after purchasing an additional 242 shares during the period. Waldron Private Wealth LLC lifted its position in shares of U.S. Bancorp by 1.9% during the 2nd quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock valued at $534,000 after acquiring an additional 247 shares during the period. Naples Global Advisors LLC lifted its position in shares of U.S. Bancorp by 0.4% during the 2nd quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock valued at $2,624,000 after acquiring an additional 248 shares during the period. Kavar Capital Partners Group LLC lifted its position in shares of U.S. Bancorp by 4.7% during the 2nd quarter. Kavar Capital Partners Group LLC now owns 5,555 shares of the financial services provider’s stock valued at $221,000 after acquiring an additional 250 shares during the period. Finally, STAR Financial Bank lifted its position in shares of U.S. Bancorp by 3.3% during the 2nd quarter. STAR Financial Bank now owns 7,772 shares of the financial services provider’s stock valued at $309,000 after acquiring an additional 250 shares during the period. Institutional investors own 77.60% of the company’s stock.

Insider Buying and Selling at U.S. Bancorp

In related news, Director Aleem Gillani purchased 10,000 shares of U.S. Bancorp stock in a transaction on Thursday, July 18th. The shares were purchased at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,900. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.23% of the company’s stock.

Analyst Upgrades and Downgrades

USB has been the subject of a number of recent analyst reports. StockNews.com upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Wells Fargo & Company upped their target price on U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a research 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 research report on Thursday, July 18th. Evercore ISI upped their target price on U.S. Bancorp from $49.00 to $51.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Finally, Jefferies Financial Group cut their target price on 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 analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, U.S. Bancorp has a consensus rating of “Hold” and a consensus price target of $49.14.

U.S. Bancorp Price Performance

Shares of USB opened at $47.00 on Wednesday. U.S. Bancorp has a 12-month low of $30.47 and a 12-month high of $48.08. The business has a 50-day simple moving average of $44.78 and a two-hundred day simple moving average of $42.53. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. The stock has a market cap of $73.34 billion, a PE ratio of 15.56, a PEG ratio of 3.32 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $6.81 billion. During the same quarter in the prior year, the firm earned $1.12 EPS. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. Analysts anticipate that U.S. Bancorp will post 3.86 earnings per share for the current fiscal year.

U.S. Bancorp announced that its board has approved a share repurchase 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 often a sign that the company’s management believes its stock is undervalued.

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 $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date was Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio is presently 66.23%.

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.