Raymond James & Associates cut its position in shares of U.S. Bancorp (NYSE:USB – Free Report) by 4.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,324,877 shares of the financial services provider’s stock after selling 166,948 shares during the period. Raymond James & Associates owned approximately 0.21% of U.S. Bancorp worth $131,998,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in U.S. Bancorp by 0.4% during the first quarter. Vanguard Group Inc. now owns 135,371,282 shares of the financial services provider’s stock valued at $6,051,096,000 after buying an additional 502,776 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in U.S. Bancorp by 8.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,719,110 shares of the financial services provider’s stock valued at $1,459,363,000 after buying an additional 2,598,163 shares during the last quarter. Norges Bank bought a new position in U.S. Bancorp during the fourth quarter valued at approximately $827,370,000. Van ECK Associates Corp boosted its stake in U.S. Bancorp by 3.0% during the first quarter. Van ECK Associates Corp now owns 9,207,376 shares of the financial services provider’s stock valued at $411,570,000 after buying an additional 265,734 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its position in U.S. Bancorp by 0.3% during the first quarter. First Eagle Investment Management LLC now owns 8,921,691 shares of the financial services provider’s stock valued at $398,800,000 after purchasing an additional 23,826 shares during the period. 77.60% of the stock is owned by institutional investors.
U.S. Bancorp Trading Up 0.4 %
USB opened at $43.38 on Monday. The stock’s fifty day moving average is $41.59 and its two-hundred day moving average is $41.58. The company has a market capitalization of $67.69 billion, a P/E ratio of 14.30, a PEG ratio of 4.20 and a beta of 1.04. U.S. Bancorp has a 52 week low of $30.47 and a 52 week high of $45.88. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05.
U.S. Bancorp (NYSE:USB – Get Free Report) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.94 by $0.04. The company had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. U.S. Bancorp’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period last year, the business posted $1.12 EPS. Analysts forecast that U.S. Bancorp will post 3.9 earnings per share for the current year.
U.S. Bancorp Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.96 annualized dividend and a yield of 4.52%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the company. DA Davidson upped their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Jefferies Financial Group decreased their price objective on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. Evercore ISI upped their price objective on U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a research report on Tuesday, June 25th. StockNews.com upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, UBS Group upped their price objective on U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, U.S. Bancorp has an average rating of “Hold” and a consensus target price of $48.23.
Get Our Latest Stock Report on U.S. Bancorp
Insider Buying and Selling at U.S. Bancorp
In related news, Director Aleem Gillani bought 10,000 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were acquired at an average price of $44.99 per share, with a total value of $449,900.00. Following the transaction, the director now owns 10,000 shares of the company’s stock, valued at $449,900. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.23% of the company’s stock.
U.S. Bancorp Company 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 through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.
Further Reading
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Source: defenseworld.net
