Thomasville National Bank grew its position in U.S. Bancorp (NYSE:USB – Free Report) by 7.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 540,141 shares of the financial services provider’s stock after purchasing an additional 38,654 shares during the period. U.S. Bancorp makes up approximately 1.7% of Thomasville National Bank’s holdings, making the stock its 18th biggest position. Thomasville National Bank’s holdings in U.S. Bancorp were worth $17,846,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. BCK Partners Inc. bought a new position in U.S. Bancorp in the 1st quarter valued at about $2,514,000. Acadian Asset Management LLC increased its stake in shares of U.S. Bancorp by 3.0% during the first quarter. Acadian Asset Management LLC now owns 9,397 shares of the financial services provider’s stock valued at $499,000 after acquiring an additional 276 shares during the period. Vontobel Holding Ltd. lifted its position in U.S. Bancorp by 20.8% in the first quarter. Vontobel Holding Ltd. now owns 21,314 shares of the financial services provider’s stock worth $1,176,000 after purchasing an additional 3,663 shares during the period. Prudential PLC acquired a new position in shares of U.S. Bancorp during the 1st quarter valued at $1,731,000. Finally, Candriam Luxembourg S.C.A. boosted its stake in U.S. Bancorp by 5.9% during the first quarter. Candriam Luxembourg S.C.A. now owns 86,048 shares of the financial services provider’s stock valued at $4,573,000 after buying an additional 4,827 shares in the last quarter. Institutional investors and hedge funds own 75.40% of the company’s stock.
U.S. Bancorp Stock Down 1.6 %
Shares of USB traded down $0.57 during midday trading on Friday, reaching $35.15. 45,618,883 shares of the stock were exchanged, compared to its average volume of 14,272,584. The company has a market cap of $53.88 billion, a price-to-earnings ratio of 9.71, a P/E/G ratio of 1.58 and a beta of 0.98. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.97. U.S. Bancorp has a 12-month low of $27.27 and a 12-month high of $49.95. The firm has a 50 day simple moving average of $37.18 and a 200-day simple moving average of $35.34.
U.S. Bancorp (NYSE:USB – Get Free Report) last issued its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.01). U.S. Bancorp had a net margin of 16.59% and a return on equity of 16.53%. The business had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $7.17 billion. During the same period in the previous year, the business posted $1.09 EPS. U.S. Bancorp’s revenue was up 19.7% compared to the same quarter last year. Research analysts forecast that U.S. Bancorp will post 4.44 EPS for the current year.
U.S. Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 5.46%. The ex-dividend date is Thursday, September 28th. U.S. Bancorp’s payout ratio is 53.19%.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the stock. StockNews.com initiated coverage on shares of U.S. Bancorp in a research report on Thursday, August 17th. They set a “sell” rating for the company. Oppenheimer reduced their price objective on U.S. Bancorp from $70.00 to $67.00 and set an “outperform” rating for the company in a research note on Friday, August 18th. Raymond James raised U.S. Bancorp from an “underperform” rating to a “market perform” rating in a research report on Thursday, July 20th. Odeon Capital Group lowered U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, June 23rd. Finally, Piper Sandler cut their price objective on U.S. Bancorp from $41.00 to $40.00 and set a “neutral” rating on the stock in a report on Friday. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $46.71.
View Our Latest Research Report on USB
Insider Buying and Selling at U.S. Bancorp
In other news, insider Timothy A. Welsh sold 13,816 shares of the company’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $39.79, for a total transaction of $549,738.64. Following the completion of the sale, the insider now owns 119,058 shares in the company, valued at approximately $4,737,317.82. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other U.S. Bancorp news, CFO Terrance R. Dolan sold 26,000 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $39.75, for a total transaction of $1,033,500.00. Following the completion of the transaction, the chief financial officer now owns 166,992 shares of the company’s stock, valued at approximately $6,637,932. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Timothy A. Welsh sold 13,816 shares of the firm’s stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $39.79, for a total value of $549,738.64. Following the completion of the sale, the insider now directly owns 119,058 shares in the company, valued at $4,737,317.82. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.
U.S. Bancorp Profile
U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities and other financial institutions in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.
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