Entropy Technologies LP Sells 12,134 Shares of U.S. Bancorp (NYSE:USB)

Entropy Technologies LP decreased its stake in U.S. Bancorp (NYSE:USB) by 6.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 175,132 shares of the financial services provider’s stock after selling 12,134 shares during the quarter. U.S. Bancorp makes up 0.8% of Entropy Technologies LP’s holdings, making the stock its 8th biggest position. Entropy Technologies LP’s holdings in U.S. Bancorp were worth $8,009,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of USB. Redwood Wealth Management Group LLC purchased a new position in shares of U.S. Bancorp in the second quarter worth about $25,000. LRI Investments LLC purchased a new position in shares of U.S. Bancorp in the first quarter worth about $31,000. Eagle Bay Advisors LLC lifted its stake 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 worth $31,000 after buying an additional 331 shares in the last quarter. 1620 Investment Advisors Inc. purchased a new position in shares of U.S. Bancorp in the second quarter worth about $30,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of U.S. Bancorp in the second quarter worth about $33,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $54.00 to $57.00 in a research note on Monday, September 30th. Royal Bank of Canada set a $53.00 price target on shares of U.S. Bancorp in a research note on Thursday, October 17th. Barclays lifted their target price on shares of U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. The Goldman Sachs Group reduced their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Finally, StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Thirteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $51.12.

Insider Activity at U.S. Bancorp

In related news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 129,790 shares in the company, valued at approximately $6,363,603.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Stock Performance

NYSE:USB opened at $51.04 on Tuesday. The stock has a market cap of $79.62 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 2.96 and a beta of 1.02. U.S. Bancorp has a fifty-two week low of $33.61 and a fifty-two week high of $51.76. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. The firm’s fifty day simple moving average is $46.52 and its 200-day simple moving average is $43.39.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.04. The business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The company’s revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 EPS. Analysts expect that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.50 dividend. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. This represents a $2.00 annualized dividend and a yield of 3.92%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

U.S. Bancorp announced that its board has initiated a share repurchase plan on Thursday, September 12th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is 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.