4,345 Shares in U.S. Bancorp (USB) Acquired by AE Wealth Management LLC

AE Wealth Management LLC purchased a new position in shares of U.S. Bancorp (NYSE:USB) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,345 shares of the financial services provider’s stock, valued at approximately $224,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Orrstown Financial Services Inc. increased its position in shares of 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 in the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in shares of U.S. Bancorp during the first quarter worth $155,000. WealthTrust Arizona LLC increased its position in shares of 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 in the last quarter. American National Bank purchased a new position in shares of U.S. Bancorp during the first quarter worth approximately $167,000. Finally, Tradewinds Capital Management LLC increased its position in shares of U.S. Bancorp by 87.4% in the first quarter. Tradewinds Capital Management LLC now owns 3,663 shares of the financial services provider’s stock worth $189,000 after buying an additional 1,708 shares during the period. Institutional investors and hedge funds own 76.25% of the company’s stock.

U.S. Bancorp (NYSE USB) opened at 51.68 on Friday. U.S. Bancorp has a 1-year low of $42.17 and a 1-year high of $56.61. The stock has a 50 day moving average price of $52.47 and a 200-day moving average price of $52.54. The firm has a market cap of $86.45 billion, a P/E ratio of 15.61 and a beta of 0.86.

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 for the quarter, topping the 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 company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.46 billion. During the same quarter in the previous year, the firm posted $0.82 earnings per share. U.S. Bancorp’s revenue for the quarter was up .7% on a year-over-year basis. Equities research analysts forecast that U.S. Bancorp will post $3.44 EPS for the current year.

U.S. Bancorp announced that its Board of Directors has authorized a stock repurchase program on Wednesday, June 28th that allows the company to repurchase $2.60 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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A number of research analysts have commented on the company. Wells Fargo & Company started coverage on U.S. Bancorp in a research note on Wednesday, August 9th. They issued a “market perform” rating and a $56.00 target price on the stock. Jefferies Group LLC reissued a “buy” rating and set a $59.00 price objective on shares of U.S. Bancorp in a research report on Friday, June 9th. BidaskClub cut U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Argus upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Thursday, July 20th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. U.S. Bancorp presently has an average rating of “Hold” and an average price target of $52.85.

About U.S. Bancorp

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.

Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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