Kavar Capital Partners Group LLC Reduces Stake in U.S. Bancorp (NYSE:USB)

Kavar Capital Partners Group LLC reduced its position in U.S. Bancorp (NYSE:USB) by 7.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,155 shares of the financial services provider’s stock after selling 400 shares during the period. Kavar Capital Partners Group LLC’s holdings in U.S. Bancorp were worth $236,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Redwood Wealth Management Group LLC purchased a new position in shares of U.S. Bancorp in the 2nd quarter worth $25,000. 1620 Investment Advisors Inc. purchased a new position in shares of U.S. Bancorp in the 2nd quarter worth $30,000. Eagle Bay Advisors LLC boosted its stake in shares of U.S. Bancorp by 93.2% in the 1st 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 during the last quarter. LRI Investments LLC purchased a new position in shares of U.S. Bancorp in the 1st quarter worth $31,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of U.S. Bancorp in the 2nd quarter worth $33,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Trading Down 1.5 %

Shares of USB stock opened at $47.74 on Friday. U.S. Bancorp has a 12-month low of $30.47 and a 12-month high of $50.47. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The stock’s 50-day moving average price is $45.81 and its 200-day moving average price is $42.83. The stock has a market capitalization of $74.50 billion, a price-to-earnings ratio of 15.81, a price-to-earnings-growth ratio of 2.85 and a beta of 1.03.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a return on equity of 12.91% and a net margin of 12.92%. The firm had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. During the same period in the previous year, the firm posted $1.05 earnings per share. The business’s revenue was down 2.4% compared to the same quarter last year. Equities research analysts predict that U.S. Bancorp will post 3.9 EPS for the current fiscal year.

U.S. Bancorp announced that its Board of Directors has initiated a share repurchase 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 purchase up to 7% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.50 per share. The ex-dividend date was Monday, September 30th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 dividend on an annualized basis and a yield of 4.19%. U.S. Bancorp’s dividend payout ratio is 66.23%.

Wall Street Analyst Weigh In

USB has been the topic of several analyst reports. Stephens lifted their target price on U.S. Bancorp from $49.00 to $52.00 and gave the company an “equal weight” rating in a research report 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. The Goldman Sachs Group lowered their target price on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a research report on Thursday. Finally, Wells Fargo & Company lifted their target price on U.S. Bancorp from $52.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Thirteen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $50.72.

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.