LS Investment Advisors LLC increased its stake in shares of U.S. Bancorp (NYSE:USB) by 0.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 128,530 shares of the financial services provider’s stock after buying an additional 1,020 shares during the period. LS Investment Advisors LLC’s holdings in U.S. Bancorp were worth $6,619,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in USB. Hudock Capital Group LLC raised its stake in shares of U.S. Bancorp by 0.4% in the first quarter. Hudock Capital Group LLC now owns 3,787 shares of the financial services provider’s stock worth $195,000 after buying an additional 16 shares during the period. Beese Fulmer Investment Management Inc. raised its stake in U.S. Bancorp by 0.4% in the first quarter. Beese Fulmer Investment Management Inc. now owns 5,610 shares of the financial services provider’s stock valued at $289,000 after buying an additional 25 shares during the period. D. Scott Neal Inc. raised its stake in U.S. Bancorp by 0.5% in the first quarter. D. Scott Neal Inc. now owns 7,488 shares of the financial services provider’s stock valued at $386,000 after buying an additional 36 shares during the period. HighPoint Advisor Group LLC raised its stake in U.S. Bancorp by 0.5% in the fourth quarter. HighPoint Advisor Group LLC now owns 10,764 shares of the financial services provider’s stock valued at $607,000 after buying an additional 49 shares during the period. Finally, Dumont & Blake Investment Advisors LLC boosted its position in U.S. Bancorp by 0.3% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 23,528 shares of the financial services provider’s stock valued at $1,212,000 after buying an additional 70 shares during the period. 75.57% of the stock is owned by institutional investors.
Shares of U.S. Bancorp (NYSE USB) traded up 0.27% on Friday, reaching $52.57. 5,283,250 shares of the company were exchanged. U.S. Bancorp has a 12-month low of $41.13 and a 12-month high of $56.61. The firm has a market capitalization of $88.27 billion, a PE ratio of 15.88 and a beta of 0.86. The stock’s 50-day moving average is $52.20 and its 200 day moving average is $52.43.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.01. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. The business’s revenue was up .7% on a year-over-year basis. On average, analysts forecast that U.S. Bancorp will post $3.44 EPS for the current year.
The firm also recently announced 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. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.13%. U.S. Bancorp’s dividend payout ratio is presently 33.63%.
U.S. Bancorp declared that its Board of Directors has approved a share buyback program on Wednesday, June 28th that authorizes the company to repurchase $2.60 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
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Several research firms have recently issued reports on USB. BidaskClub upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Jefferies Group LLC restated a “buy” rating and set a $59.00 target price on shares of U.S. Bancorp in a report on Friday, June 9th. Royal Bank Of Canada restated a “buy” rating and issued a $55.00 price target on shares of U.S. Bancorp in a research report on Tuesday, April 4th. 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 report on Thursday, July 20th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company’s stock. U.S. Bancorp currently has a consensus rating of “Hold” and an average price target of $52.56.
In other U.S. Bancorp news, Vice Chairman Leslie V. Godridge sold 14,192 shares of the stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $52.18, for a total value of $740,538.56. Following the transaction, the insider now owns 62,303 shares of the company’s stock, valued at $3,250,970.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman P.W. Parker sold 29,449 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $51.94, for a total value of $1,529,581.06. Following the completion of the transaction, the insider now directly owns 307,698 shares in the company, valued at approximately $15,981,834.12. The disclosure for this sale can be found here. 0.39% of the stock is owned by corporate 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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