Rehmann Capital Advisory Group Sells 321 Shares of U.S. Bancorp (NYSE:USB)

Rehmann Capital Advisory Group trimmed its position in U.S. Bancorp (NYSE:USB) by 4.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 7,296 shares of the financial services provider’s stock after selling 321 shares during the period. Rehmann Capital Advisory Group’s holdings in U.S. Bancorp were worth $334,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in USB. Redwood Wealth Management Group LLC bought a new stake in shares of U.S. Bancorp during the 2nd quarter worth $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 acquiring an additional 441 shares during the period. 1620 Investment Advisors Inc. purchased a new position in U.S. Bancorp in the second quarter valued at about $30,000. Y.D. More Investments Ltd bought a new position in shares of U.S. Bancorp during the 2nd quarter valued at approximately $33,000. Finally, Kimelman & Baird LLC purchased a new stake in shares of U.S. Bancorp during the 2nd quarter worth approximately $40,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on USB. Citigroup raised U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their price objective for the company from $49.00 to $65.00 in a report on Monday, November 25th. DA Davidson increased their price target on U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Morgan Stanley upgraded 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 research note on Monday, September 30th. Piper Sandler increased their target price on shares of U.S. Bancorp from $52.00 to $58.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Oppenheimer lifted their target price on shares of U.S. Bancorp from $59.00 to $64.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Twelve analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, U.S. Bancorp has a consensus rating of “Hold” and an average price target of $53.27.

Insider Activity 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 shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.23% of the stock is owned by insiders.

U.S. Bancorp Stock Performance

Shares of USB opened at $51.10 on Friday. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. 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 company has a market cap of $79.72 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 3.03 and a beta of 1.03. The stock has a 50-day moving average price of $49.52 and a 200-day moving average price of $45.07.

U.S. Bancorp (NYSE:USB) last announced its 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 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 12.92% and a return on equity of 12.91%. U.S. Bancorp’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.05 earnings per share. As a group, equities analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.00 annualized dividend and a yield of 3.91%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 61.16%.

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