Alpha Cubed Investments LLC lifted its holdings in U.S. Bancorp (NYSE:USB) by 9.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,328 shares of the financial services provider’s stock after acquiring an additional 892 shares during the period. Alpha Cubed Investments LLC’s holdings in U.S. Bancorp were worth $541,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Executive Wealth Management LLC bought a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $27,000. Trustcore Financial Services LLC bought a new position in shares of U.S. Bancorp during the 1st quarter worth approximately $28,000. Catamount Wealth Management lifted its holdings in shares of U.S. Bancorp by 525.0% in the 1st quarter. Catamount Wealth Management now owns 750 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 630 shares in the last quarter. New Potomac Partners LLC bought a new position in U.S. Bancorp during the 1st quarter valued at $37,000. Finally, CNB Bank lifted its stake in U.S. Bancorp by 161.0% during the 1st quarter. CNB Bank now owns 783 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 483 shares in the last quarter. 74.67% of the stock is owned by institutional investors.
Several research analysts have commented on USB shares. Bank of America raised their target price on Micron Technology from $45.00 to $60.00 and gave the stock an “average” rating in a research note on Thursday, July 18th. Zacks Investment Research raised GreenTree Hospitality Group from a “sell” rating to a “hold” rating in a report on Monday, April 15th. JPMorgan Chase & Co. assumed coverage on Pinduoduo in a report on Tuesday, July 9th. They set an “underweight” rating and a $20.48 price target on the stock. Morgan Stanley upped their price objective on Yum! Brands from $97.00 to $106.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. Finally, Oppenheimer set a $15.00 price target on Strongbridge Biopharma and gave the stock a “buy” rating in a research report on Tuesday, March 26th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. U.S. Bancorp currently has a consensus rating of “Hold” and an average price target of $56.63.
In other news, Vice Chairman Gillern Jeffry H. Von sold 4,669 shares of U.S. Bancorp stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $53.14, for a total transaction of $248,110.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.24% of the stock is currently owned by corporate insiders.
Shares of NYSE USB traded up $0.72 during trading on Tuesday, hitting $56.05. 456,711 shares of the company traded hands, compared to its average volume of 4,821,705. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.84 and a quick ratio of 0.83. The company has a market cap of $88.58 billion, a price-to-earnings ratio of 13.67, a P/E/G ratio of 1.83 and a beta of 1.06. The stock has a 50-day moving average of $52.98. U.S. Bancorp has a 1 year low of $43.14 and a 1 year high of $55.56.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. The business had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.73 billion. U.S. Bancorp had a net margin of 26.70% and a return on equity of 15.45%. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.02 EPS. On average, research analysts predict that U.S. Bancorp will post 4.29 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $1.48 annualized dividend and a dividend yield of 2.64%. U.S. Bancorp’s dividend payout ratio (DPR) is 36.10%.
U.S. Bancorp declared that its Board of Directors has authorized a share buyback program on Thursday, June 27th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 3.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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