Norway Savings Bank decreased its position in U.S. Bancorp (NYSE:USB) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,127 shares of the financial services provider’s stock after selling 150 shares during the period. Norway Savings Bank’s holdings in U.S. Bancorp were worth $681,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in USB. Blenheim Capital Management BV purchased a new stake in shares of U.S. Bancorp during the fourth quarter worth approximately $223,000. A.R.T. Advisors LLC boosted its position in shares of U.S. Bancorp by 784.9% in the fourth quarter. A.R.T. Advisors LLC now owns 140,700 shares of the financial services provider’s stock valued at $7,227,000 after buying an additional 124,800 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its position in shares of U.S. Bancorp by 1.7% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 57,847 shares of the financial services provider’s stock valued at $2,972,000 after buying an additional 958 shares during the last quarter. GSA Capital Partners LLP bought a new position in shares of U.S. Bancorp during the fourth quarter valued at about $1,690,000. Finally, First Republic Investment Management Inc. boosted its position in shares of U.S. Bancorp by 19.7% in the fourth quarter. First Republic Investment Management Inc. now owns 926,159 shares of the financial services provider’s stock valued at $47,577,000 after buying an additional 152,160 shares during the last quarter. 75.57% of the stock is owned by institutional investors and hedge funds.
Shares of U.S. Bancorp (USB) traded up 0.294% during trading on Friday, reaching $52.584. The company had a trading volume of 3,570,630 shares. The stock has a market capitalization of $88.29 billion, a price-to-earnings ratio of 15.886 and a beta of 0.86. The company’s 50 day moving average is $52.18 and its 200-day moving average is $52.42. U.S. Bancorp has a 1-year low of $41.13 and a 1-year high of $56.61.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.01. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same period last year, the business earned $0.82 EPS. The company’s revenue was up .7% on a year-over-year basis. On average, equities research analysts anticipate that U.S. Bancorp will post $3.44 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were issued a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.14%. U.S. Bancorp’s payout ratio is 33.63%.
U.S. Bancorp announced that its Board of Directors has authorized a stock buyback plan on Wednesday, June 28th that permits the company to repurchase $2.60 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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Several analysts have issued reports on the company. BidaskClub lowered U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. Argus upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Thursday, July 20th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Jefferies Group LLC restated a “buy” rating and set a $59.00 target price on shares of U.S. Bancorp in a research report on Friday, June 9th. Finally, Rafferty Capital Markets cut U.S. Bancorp from a “buy” rating to a “hold” rating and set a $53.00 target price for the company. in a research report on Thursday, April 20th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $52.56.
In related news, Vice Chairman Leslie V. Godridge sold 14,192 shares of U.S. Bancorp stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $52.18, for a total transaction of $740,538.56. Following the sale, the insider now directly owns 62,303 shares in the company, valued at approximately $3,250,970.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman P.W. Parker sold 29,449 shares of U.S. Bancorp stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $51.94, for a total transaction of $1,529,581.06. Following the sale, the insider now owns 307,698 shares in the company, valued at $15,981,834.12. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by company insiders.
U.S. Bancorp Company Profile
U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.
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