Buttonwood Financial Advisors Inc. Cuts Stock Position in U.S. Bancorp (NYSE:USB)

Buttonwood Financial Advisors Inc. decreased its stake in shares of U.S. Bancorp (NYSE:USB) by 67.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,554 shares of the financial services provider’s stock after selling 17,829 shares during the quarter. Buttonwood Financial Advisors Inc.’s holdings in U.S. Bancorp were worth $283,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. TAP Consulting LLC purchased a new stake in shares of U.S. Bancorp during the 1st quarter valued at about $259,000. Advisor Group Holdings Inc. grew its position in U.S. Bancorp by 11.7% in the 4th quarter. Advisor Group Holdings Inc. now owns 836,343 shares of the financial services provider’s stock worth $36,489,000 after purchasing an additional 87,888 shares during the period. MCF Advisors LLC raised its stake in U.S. Bancorp by 80.8% during the 1st quarter. MCF Advisors LLC now owns 4,711 shares of the financial services provider’s stock valued at $172,000 after buying an additional 2,105 shares during the last quarter. Venture Visionary Partners LLC lifted its holdings in shares of U.S. Bancorp by 9.3% during the 1st quarter. Venture Visionary Partners LLC now owns 9,419 shares of the financial services provider’s stock valued at $340,000 after buying an additional 800 shares during the period. Finally, Ascent Wealth Partners LLC boosted its stake in shares of U.S. Bancorp by 50.3% in the 1st quarter. Ascent Wealth Partners LLC now owns 28,603 shares of the financial services provider’s stock worth $995,000 after buying an additional 9,572 shares during the last quarter. 75.40% of the stock is owned by institutional investors.

U.S. Bancorp Stock Performance

NYSE:USB traded down $0.57 during mid-day trading on Friday, hitting $35.15. The company’s stock had a trading volume of 46,217,261 shares, compared to its average volume of 14,275,460. The business’s fifty day moving average is $37.23 and its two-hundred day moving average is $35.35. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.80 and a quick ratio of 0.80. The stock has a market cap of $53.88 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 1.58 and a beta of 0.98. U.S. Bancorp has a 1 year low of $27.27 and a 1 year high of $49.95.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.01). U.S. Bancorp had a net margin of 16.59% and a return on equity of 16.53%. The business had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter in the prior year, the firm earned $1.09 EPS. U.S. Bancorp’s revenue for the quarter was up 19.7% on a year-over-year basis. Analysts anticipate that U.S. Bancorp will post 4.44 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 5.46%. The ex-dividend date is Thursday, September 28th. U.S. Bancorp’s dividend payout ratio is currently 53.19%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Credit Suisse Group reissued a “neutral” rating and issued a $44.00 target price on shares of U.S. Bancorp in a research report on Thursday, July 20th. The Goldman Sachs Group boosted their target price on shares of U.S. Bancorp from $34.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, July 20th. Stephens reiterated an “overweight” rating and issued a $47.00 price target on shares of U.S. Bancorp in a research report on Monday, July 24th. HSBC initiated coverage on shares of U.S. Bancorp in a research note on Thursday, September 7th. They set a “hold” rating and a $30.00 price target on the stock. Finally, Raymond James upgraded U.S. Bancorp from an “underperform” rating to a “market perform” rating in a research note on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Hold” and an average price target of $46.71.

Insiders Place Their Bets

In related news, CFO Terrance R. Dolan sold 26,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $39.75, for a total value of $1,033,500.00. Following the completion of the sale, the chief financial officer now owns 166,992 shares of the company’s stock, valued at $6,637,932. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Timothy A. Welsh sold 13,816 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $39.79, for a total value of $549,738.64. Following the transaction, the insider now directly owns 119,058 shares in the company, valued at $4,737,317.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Terrance R. Dolan sold 26,000 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $39.75, for a total transaction of $1,033,500.00. Following the completion of the transaction, the chief financial officer now directly owns 166,992 shares in the company, valued at approximately $6,637,932. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.