Impact Partnership Wealth LLC Sells 18,901 Shares of U.S. Bancorp (NYSE:USB)

Impact Partnership Wealth LLC reduced its stake in U.S. Bancorp (NYSE:USB) by 52.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,928 shares of the financial services provider’s stock after selling 18,901 shares during the quarter. Impact Partnership Wealth LLC’s holdings in U.S. Bancorp were worth $774,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Redwood Wealth Management Group LLC bought a new position in U.S. Bancorp in the 2nd quarter worth about $25,000. 1620 Investment Advisors Inc. purchased a new stake in shares of U.S. Bancorp during the second quarter valued at approximately $30,000. Eagle Bay Advisors LLC increased its position in shares of U.S. Bancorp by 93.2% during the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 331 shares in the last quarter. LRI Investments LLC purchased a new position in U.S. Bancorp in the 1st quarter worth approximately $31,000. Finally, Y.D. More Investments Ltd bought a new position in U.S. Bancorp in the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Barclays lifted their target price on U.S. Bancorp from $52.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Morgan Stanley raised shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Stephens raised their price target on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Wells Fargo & Company increased their price objective on shares of U.S. Bancorp from $52.00 to $60.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, UBS Group boosted their price target on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $50.72.

U.S. Bancorp Trading Down 0.0 %

Shares of NYSE USB traded down $0.02 during mid-day trading on Thursday, reaching $48.51. The company had a trading volume of 843,330 shares, compared to its average volume of 8,330,771. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $50.47. The business’s 50-day moving average is $45.61 and its 200-day moving average is $42.77. The stock has a market cap of $75.70 billion, a price-to-earnings ratio of 16.07, a price-to-earnings-growth ratio of 3.32 and a beta of 1.03. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05.

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 (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.04. The company had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. U.S. Bancorp’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.05 earnings per share. Equities analysts expect that U.S. Bancorp will post 3.86 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The company also recently disclosed 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 an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a dividend yield of 4.12%. The ex-dividend date was Monday, September 30th. U.S. Bancorp’s payout ratio is presently 66.23%.

U.S. Bancorp declared that its board has initiated a stock repurchase plan 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 plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the firm’s stock in a transaction dated 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 owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.23% of the stock is owned by insiders.

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.