TRUE Private Wealth Advisors Sells 3,802 Shares of U.S. Bancorp (NYSE:USB)

TRUE Private Wealth Advisors cut its position in shares of U.S. Bancorp (NYSE:USB) by 4.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,836 shares of the financial services provider’s stock after selling 3,802 shares during the period. TRUE Private Wealth Advisors’ holdings in U.S. Bancorp were worth $3,514,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Redwood Wealth Management Group LLC acquired a new position in shares of U.S. Bancorp in the 2nd quarter valued at $25,000. Frazier Financial Advisors LLC raised its position in U.S. Bancorp by 222.7% in the third quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 441 shares in the last quarter. LRI Investments LLC bought a new position in U.S. Bancorp during the first quarter worth about $31,000. 1620 Investment Advisors Inc. acquired a new stake in U.S. Bancorp during the second quarter valued at approximately $30,000. Finally, Y.D. More Investments Ltd acquired a new stake in U.S. Bancorp during the second quarter valued at approximately $33,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on USB. Evercore ISI raised their target price on U.S. Bancorp from $51.00 to $54.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Oppenheimer lifted their price objective on U.S. Bancorp from $59.00 to $64.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Barclays upped their target price on shares of U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Wells Fargo & Company lifted their price target on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a research note on Thursday, October 17th. Twelve analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $52.02.

Insiders Place Their Bets

In related news, insider Jodi L. Richard sold 25,000 shares of the 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 sale, the insider now directly owns 129,790 shares in the company, valued at $6,363,603.70. This trade represents a 16.15 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Down 0.4 %

Shares of NYSE:USB opened at $53.29 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.81 and a quick ratio of 0.81. The stock has a market cap of $83.13 billion, a price-to-earnings ratio of 16.30, a P/E/G ratio of 3.15 and a beta of 1.02. The company has a 50 day moving average of $48.44 and a 200-day moving average of $44.44. U.S. Bancorp has a one year low of $37.67 and a one year high of $53.98.

U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS 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 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 business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.05 EPS. On average, sell-side analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.50 dividend. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.00 annualized dividend and a yield of 3.75%. U.S. Bancorp’s dividend payout ratio is presently 61.16%.

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

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.