Kowal Investment Group LLC Lowers Position in U.S. Bancorp (NYSE:USB)

Kowal Investment Group LLC lowered its holdings in U.S. Bancorp (NYSE:USB) by 3.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,693 shares of the financial services provider’s stock after selling 1,684 shares during the period. Kowal Investment Group LLC’s holdings in U.S. Bancorp were worth $1,952,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of USB. Redwood Wealth Management Group LLC bought a new stake in U.S. Bancorp during the second quarter worth approximately $25,000. Financial Synergies Wealth Advisors Inc. bought a new position in U.S. Bancorp in the 1st quarter worth $30,000. LRI Investments LLC acquired a new position in shares of U.S. Bancorp during the 1st quarter worth about $31,000. Eagle Bay Advisors LLC boosted its position 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 valued at $31,000 after acquiring an additional 331 shares during the period. Finally, 1620 Investment Advisors Inc. acquired a new stake in U.S. Bancorp in the 2nd quarter worth $30,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $49.21 on Thursday. The stock’s fifty day moving average price is $44.94 and its two-hundred day moving average price is $42.58. U.S. Bancorp has a one year low of $30.47 and a one year high of $50.11. The firm has a market cap of $76.78 billion, a price-to-earnings ratio of 16.29, a P/E/G ratio of 3.32 and a beta of 1.03. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80.

U.S. Bancorp (NYSE:USB) last posted 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 during the quarter, compared to analysts’ expectations of $6.90 billion. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. 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 business posted $1.05 earnings per share. On average, equities analysts forecast that U.S. Bancorp will post 3.86 EPS for the current year.

U.S. Bancorp declared that its Board of Directors has initiated a share 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 reacquire up to 7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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 dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date of this dividend was Monday, September 30th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s payout ratio is presently 66.23%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on USB shares. Citigroup lifted their target price on shares of U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. lowered shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target for the company. in a report on Thursday, June 27th. Morgan Stanley upgraded shares of U.S. Bancorp from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $54.00 to $57.00 in a research report on Monday, September 30th. The Goldman Sachs Group decreased their price objective on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, September 11th. Finally, StockNews.com raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Twelve equities research 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, U.S. Bancorp presently has an average rating of “Hold” and a consensus target price of $49.14.

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.