State Street Corp boosted its position in shares of U.S. Bancorp (NYSE:USB) by 1.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 75,509,050 shares of the financial services provider’s stock after buying an additional 903,504 shares during the period. State Street Corp owned about 4.48% of U.S. Bancorp worth $3,888,995,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of USB. Orrstown Financial Services Inc. boosted its position in U.S. Bancorp by 26.9% in the first quarter. Orrstown Financial Services Inc. now owns 2,240 shares of the financial services provider’s stock worth $116,000 after buying an additional 475 shares during the period. SRS Capital Advisors Inc. boosted its position in U.S. Bancorp by 17.0% in the first quarter. SRS Capital Advisors Inc. now owns 2,547 shares of the financial services provider’s stock worth $131,000 after buying an additional 371 shares during the period. Signature Estate & Investment Advisors LLC purchased a new position in U.S. Bancorp during the first quarter worth about $155,000. WealthTrust Arizona LLC boosted its position in U.S. Bancorp by 31.8% in the first quarter. WealthTrust Arizona LLC now owns 3,033 shares of the financial services provider’s stock worth $156,000 after buying an additional 732 shares during the period. Finally, American National Bank purchased a new position in U.S. Bancorp during the first quarter worth about $167,000. Institutional investors own 75.84% of the company’s stock.
Shares of U.S. Bancorp (USB) traded down 0.4007% during mid-day trading on Friday, hitting $52.1701. 1,208,970 shares of the company’s stock traded hands. The company has a market cap of $87.27 billion, a PE ratio of 15.7614 and a beta of 0.86. The firm has a 50-day moving average of $52.30 and a 200 day moving average of $52.54. U.S. Bancorp has a 52 week low of $42.17 and a 52 week high of $56.61.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. During the same period last year, the company earned $0.82 earnings per share. The business’s revenue was up .7% on a year-over-year basis. Equities research analysts predict that U.S. Bancorp will post $3.44 EPS for the current year.
U.S. Bancorp declared that its board has authorized a stock repurchase program on Wednesday, June 28th that permits the company to buyback $2.60 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend was Wednesday, June 28th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 33.63%.
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A number of research analysts have recently issued reports on the stock. BidaskClub cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. Wells Fargo & Company assumed coverage on shares of U.S. Bancorp in a research note on Wednesday. They issued a “market perform” rating and a $56.00 target price for the company. Rafferty Capital Markets cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $53.00 target price for the company. in a research note on Thursday, April 20th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th. Finally, Argus upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Thursday, July 20th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. U.S. Bancorp presently has an average rating of “Hold” and a consensus target price of $52.85.
In related news, Vice Chairman P.W. Parker sold 29,449 shares of the business’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $51.94, for a total transaction of $1,529,581.06. Following the transaction, the insider now directly owns 307,698 shares in the company, valued at $15,981,834.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.39% of the stock is currently owned by 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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