Commonwealth Equity Services LLC grew its holdings in U.S. Bancorp (NYSE:USB) by 11.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 364,427 shares of the financial services provider’s stock after acquiring an additional 37,814 shares during the period. Commonwealth Equity Services LLC’s holdings in U.S. Bancorp were worth $19,095,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cetera Advisors LLC boosted its holdings in shares of U.S. Bancorp by 25.1% during the 4th quarter. Cetera Advisors LLC now owns 27,885 shares of the financial services provider’s stock valued at $1,277,000 after acquiring an additional 5,596 shares in the last quarter. Investment Management of Virginia LLC boosted its stake in U.S. Bancorp by 0.9% during the 1st quarter. Investment Management of Virginia LLC now owns 40,597 shares of the financial services provider’s stock valued at $1,956,000 after purchasing an additional 357 shares during the last quarter. BTIM Corp. boosted its stake in U.S. Bancorp by 3.8% during the 1st quarter. BTIM Corp. now owns 1,605,781 shares of the financial services provider’s stock valued at $77,383,000 after purchasing an additional 58,254 shares during the last quarter. Rehmann Capital Advisory Group boosted its stake in U.S. Bancorp by 1.4% during the 1st quarter. Rehmann Capital Advisory Group now owns 27,436 shares of the financial services provider’s stock valued at $1,322,000 after purchasing an additional 373 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of U.S. Bancorp by 2.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 9,826 shares of the financial services provider’s stock worth $474,000 after purchasing an additional 227 shares during the period. 74.67% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Vice Chairman Gillern Jeffry H. Von sold 4,669 shares of the business’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.24% of the company’s stock.
A number of brokerages have issued reports on USB. Bank of America boosted their target price on shares of Micron Technology from $45.00 to $60.00 and gave the company an “average” rating in a report on Thursday, July 18th. Zacks Investment Research upgraded shares of GreenTree Hospitality Group from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Morgan Stanley upped their price target on shares of Yum! Brands from $97.00 to $106.00 and gave the company an “equal weight” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. started coverage on shares of Pinduoduo in a research report on Tuesday, July 9th. They set an “underweight” rating and a $20.48 price target for the company. Finally, Wedbush assumed coverage on shares of Millendo Therapeutics in a research note on Thursday, July 18th. They set an “outperform” rating and a $24.00 price objective for the company. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company’s stock. U.S. Bancorp presently has a consensus rating of “Hold” and a consensus target price of $56.63.
Shares of USB stock traded up $0.59 on Tuesday, hitting $55.92. 403,487 shares of the stock traded hands, compared to its average volume of 4,821,705. The stock has a market cap of $88.58 billion, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 1.83 and a beta of 1.06. U.S. Bancorp has a 52 week low of $43.14 and a 52 week high of $55.56. The business has a 50 day moving average price of $52.98. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.86.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. U.S. Bancorp had a net margin of 26.70% and a return on equity of 15.45%. The business had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same period last year, the company posted $1.02 EPS. The business’s revenue was down 1.1% on a year-over-year basis. Analysts forecast that U.S. Bancorp will post 4.29 earnings per share for the current fiscal year.
U.S. Bancorp announced that its board has approved a stock repurchase plan on Thursday, June 27th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 3.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a $0.37 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $1.48 annualized dividend and a dividend yield of 2.65%. U.S. Bancorp’s dividend payout ratio is currently 36.10%.
U.S. Bancorp Profile
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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