Litman Gregory Wealth Management LLC Reduces Stake in U.S. Bancorp (NYSE:USB)

Litman Gregory Wealth Management LLC trimmed its stake in U.S. Bancorp (NYSE:USB) by 35.6% during the fourth quarter, Holdings Channel reports. The fund owned 44,175 shares of the financial services provider’s stock after selling 24,468 shares during the period. Litman Gregory Wealth Management LLC’s holdings in U.S. Bancorp were worth $1,912,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CGC Financial Services LLC bought a new position in U.S. Bancorp in the 4th quarter worth approximately $25,000. BKM Wealth Management LLC bought a new position in U.S. Bancorp in the 4th quarter worth approximately $26,000. Planned Solutions Inc. bought a new position in U.S. Bancorp in the 4th quarter worth approximately $27,000. Legacy Financial Group LLC bought a new position in U.S. Bancorp in the 3rd quarter worth approximately $30,000. Finally, Naples Money Management LLC bought a new position in U.S. Bancorp in the 4th quarter worth approximately $30,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp Trading Up 2.6 %

NYSE:USB traded up $1.01 during trading hours on Friday, reaching $40.45. The company’s stock had a trading volume of 12,037,614 shares, compared to its average volume of 8,840,654. The firm has a market capitalization of $63.03 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 2.04 and a beta of 1.05. The firm has a 50-day simple moving average of $42.32 and a 200-day simple moving average of $39.78. U.S. Bancorp has a 1 year low of $27.27 and a 1 year high of $45.85. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.81 and a current ratio of 0.82.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.01. The business had revenue of $6.72 billion for the quarter, compared to analyst estimates of $6.71 billion. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The company’s revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.16 EPS. Research analysts expect that U.S. Bancorp will post 3.87 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 29th were paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date of this dividend was Wednesday, March 27th. U.S. Bancorp’s payout ratio is 64.90%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on USB shares. UBS Group cut their price target on shares of U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating for the company in a report on Friday. StockNews.com downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, February 20th. TheStreet raised shares of U.S. Bancorp from a “c+” rating to a “b-” rating in a report on Tuesday, December 26th. HSBC raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and raised their price target for the company from $47.00 to $53.00 in a report on Thursday, March 28th. Finally, Morgan Stanley raised their price target on shares of U.S. Bancorp from $44.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $46.68.

Insider Activity

In other news, insider Terrance R. Dolan sold 26,583 shares of U.S. Bancorp stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the sale, the insider now owns 144,236 shares of the company’s stock, valued at approximately $6,255,515.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Terrance R. Dolan sold 26,583 shares of U.S. Bancorp stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total transaction of $1,152,904.71. Following the sale, the insider now owns 144,236 shares of the company’s stock, valued at approximately $6,255,515.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James L. Chosy sold 21,582 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $41.47, for a total transaction of $895,005.54. Following the sale, the executive vice president now directly owns 164,880 shares in the company, valued at approximately $6,837,573.60. The disclosure for this sale can be found here. Insiders own 0.23% of the company’s stock.

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.