Shepherd Financial Partners LLC Buys 1,223 Shares of U.S. Bancorp (NYSE:USB)

Shepherd Financial Partners LLC raised its position in shares of U.S. Bancorp (NYSE:USB) by 8.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,186 shares of the financial services provider’s stock after acquiring an additional 1,223 shares during the period. Shepherd Financial Partners LLC’s holdings in U.S. Bancorp were worth $740,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Redwood Wealth Management Group LLC bought a new stake in U.S. Bancorp in the 2nd quarter valued at $25,000. 1620 Investment Advisors Inc. acquired a new stake in shares of U.S. Bancorp during the second quarter worth $30,000. Eagle Bay Advisors LLC boosted its position 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 valued at $31,000 after acquiring an additional 331 shares during the period. LRI Investments LLC acquired a new position in shares of U.S. Bancorp in the first quarter valued at about $31,000. Finally, Y.D. More Investments Ltd bought a new position in U.S. Bancorp during the second quarter worth about $33,000. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Trading Up 0.5 %

Shares of USB stock traded up $0.25 during mid-day trading on Friday, hitting $48.56. The company’s stock had a trading volume of 1,470,679 shares, compared to its average volume of 8,302,212. The company has a market cap of $75.78 billion, a PE ratio of 14.77, a P/E/G ratio of 2.88 and a beta of 1.03. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. The company’s fifty day simple moving average is $46.18 and its 200-day simple moving average is $43.00. U.S. Bancorp has a 52 week low of $32.39 and a 52 week high of $50.47.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.04. The firm had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.05 earnings per share. As a group, equities research analysts expect that U.S. Bancorp will post 3.92 earnings per share for the current fiscal year.

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

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 4.12%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s dividend payout ratio is currently 61.16%.

Insider Transactions at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $49.03, for a total value of $1,225,750.00. Following the transaction, the insider now owns 129,790 shares in the company, valued at approximately $6,363,603.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.23% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on USB. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $54.00 to $57.00 in a report on Monday, September 30th. Deutsche Bank Aktiengesellschaft downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a research report on Thursday, October 24th. Stephens raised their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Royal Bank of Canada set a $53.00 target price on U.S. Bancorp in a research report on Thursday, October 17th. Finally, Robert W. Baird set a $54.00 price target on U.S. Bancorp in a research report on Thursday, October 17th. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $50.87.

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.