U.S. Bancorp (NYSE:USB) Shares Sold by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC decreased its position in U.S. Bancorp (NYSE:USB) by 7.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 63,488 shares of the financial services provider’s stock after selling 4,922 shares during the quarter. Resonant Capital Advisors LLC’s holdings in U.S. Bancorp were worth $2,935,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Wealth Alliance Advisory Group LLC raised its stake in U.S. Bancorp by 125.8% in the 3rd quarter. Wealth Alliance Advisory Group LLC now owns 20,112 shares of the financial services provider’s stock valued at $920,000 after purchasing an additional 11,205 shares during the last quarter. Chicago Capital LLC raised its stake in U.S. Bancorp by 6.5% in the 3rd quarter. Chicago Capital LLC now owns 9,882 shares of the financial services provider’s stock valued at $452,000 after purchasing an additional 600 shares during the last quarter. Raymond James & Associates raised its stake in U.S. Bancorp by 4.1% in the 3rd quarter. Raymond James & Associates now owns 3,462,009 shares of the financial services provider’s stock valued at $158,318,000 after purchasing an additional 137,132 shares during the last quarter. Bartlett & CO. Wealth Management LLC raised its stake in U.S. Bancorp by 0.4% in the 3rd quarter. Bartlett & CO. Wealth Management LLC now owns 373,336 shares of the financial services provider’s stock valued at $17,259,000 after purchasing an additional 1,447 shares during the last quarter. Finally, Capital Investment Advisors LLC raised its stake in U.S. Bancorp by 6.3% in the 3rd quarter. Capital Investment Advisors LLC now owns 6,014 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 357 shares during the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the company. Citigroup lifted their price target on U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Evercore ISI lifted their price target on U.S. Bancorp from $49.00 to $51.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Barclays lifted their price target on U.S. Bancorp from $52.00 to $57.00 and gave the company an “overweight” rating in a report on Thursday. Morgan Stanley upgraded U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $54.00 to $57.00 in a report on Monday, September 30th. Finally, DA Davidson lifted their price target on U.S. Bancorp from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Thursday. Twelve research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $50.71.

U.S. Bancorp Stock Down 1.6 %

Shares of NYSE:USB opened at $49.16 on Friday. 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 has a 1 year low of $30.47 and a 1 year high of $50.47. The stock has a market capitalization of $76.71 billion, a P/E ratio of 16.28, a PEG ratio of 3.32 and a beta of 1.03. The stock has a 50-day simple moving average of $45.24 and a 200-day simple moving average of $42.66.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.04. The firm had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. U.S. Bancorp’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.05 EPS. Equities analysts forecast 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 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 4.07%. The ex-dividend date of this dividend 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 currently 66.23%.

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

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.