Global Retirement Partners LLC Has $1.72 Million Stake in U.S. Bancorp (NYSE:USB)

Global Retirement Partners LLC cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 18.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,511 shares of the financial services provider’s stock after selling 8,625 shares during the period. Global Retirement Partners LLC’s holdings in U.S. Bancorp were worth $1,715,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of USB. Brookstone Capital Management lifted its holdings in U.S. Bancorp by 2,056.5% during the 1st quarter. Brookstone Capital Management now owns 218,668 shares of the financial services provider’s stock worth $9,774,000 after buying an additional 208,528 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of U.S. Bancorp in the second quarter worth about $20,188,000. Mission Wealth Management LP lifted its stake in U.S. Bancorp by 200.7% in the first quarter. Mission Wealth Management LP now owns 18,273 shares of the financial services provider’s stock valued at $817,000 after buying an additional 12,197 shares in the last quarter. Janus Henderson Group PLC increased its holdings in U.S. Bancorp by 6.4% during the 1st quarter. Janus Henderson Group PLC now owns 276,599 shares of the financial services provider’s stock worth $12,363,000 after purchasing an additional 16,686 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in U.S. Bancorp by 90.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 862,317 shares of the financial services provider’s stock valued at $36,676,000 after buying an additional 409,192 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE:USB opened at $49.16 on Friday. 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 firm has a market capitalization of $76.71 billion, a P/E ratio of 16.28, a P/E/G ratio of 3.32 and a beta of 1.03. The company has a fifty day moving average of $45.24 and a 200-day moving average of $42.66. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $50.47.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.04. The business had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. U.S. Bancorp’s quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.05 EPS. As a group, sell-side analysts anticipate that U.S. Bancorp will post 3.86 EPS for the current year.

U.S. Bancorp announced that its Board of Directors has initiated a stock repurchase plan on Thursday, September 12th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 7% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.07%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s payout ratio is currently 66.23%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on USB shares. Stephens upped their target price on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday. Jefferies Financial Group decreased their price target on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research note on Wednesday, July 3rd. Evercore ISI increased their target price on U.S. Bancorp from $49.00 to $51.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. Royal Bank of Canada set a $53.00 price target on U.S. Bancorp in a research note on Thursday. Finally, DA Davidson upped their price target on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Thursday. Twelve analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, U.S. Bancorp has an average rating of “Hold” and a consensus target price of $50.71.

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.