WESPAC Advisors LLC bought a new position in shares of U.S. Bancorp (NYSE:USB) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 5,509 shares of the financial services provider’s stock, valued at approximately $291,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of USB. Horan Capital Management bought a new position in shares of U.S. Bancorp in the second quarter valued at $109,000. Integrated Investment Consultants LLC bought a new position in shares of U.S. Bancorp in the second quarter valued at $135,000. Field & Main Bank lifted its stake in shares of U.S. Bancorp by 49.9% in the second quarter. Field & Main Bank now owns 3,004 shares of the financial services provider’s stock valued at $159,000 after buying an additional 1,000 shares in the last quarter. NEXT Financial Group Inc bought a new position in shares of U.S. Bancorp in the third quarter valued at $181,000. Finally, Polaris Greystone Financial Group LLC bought a new position in shares of U.S. Bancorp in the third quarter valued at $185,000. 74.42% of the stock is currently owned by institutional investors and hedge funds.
In related news, Vice Chairman Gillern Jeffry H. Von sold 17,508 shares of the firm’s stock in a transaction dated Wednesday, October 24th. The shares were sold at an average price of $50.81, for a total transaction of $889,581.48. Following the completion of the sale, the insider now owns 121,137 shares in the company, valued at $6,154,970.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Vice Chairman Terrance R. Dolan sold 15,524 shares of the firm’s stock in a transaction dated Thursday, October 18th. The stock was sold at an average price of $52.91, for a total transaction of $821,374.84. Following the sale, the insider now owns 124,086 shares of the company’s stock, valued at approximately $6,565,390.26. The disclosure for this sale can be found here. 0.43% of the stock is owned by company insiders.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, October 17th. The financial services provider reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $1.04 by $0.02. U.S. Bancorp had a net margin of 27.53% and a return on equity of 15.14%. The company had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.68 billion. During the same period last year, the firm earned $0.88 earnings per share. The firm’s revenue was up 1.6% on a year-over-year basis. Equities research analysts predict that U.S. Bancorp will post 4.1 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were given a dividend of $0.37 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.30. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend was Thursday, September 27th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 43.27%.
USB has been the topic of a number of recent research reports. Zacks Investment Research raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research note on Tuesday, September 18th. Wedbush set a $58.00 price objective on shares of U.S. Bancorp and gave the company a “hold” rating in a research note on Thursday, October 18th. ValuEngine raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 22nd. UBS Group set a $56.00 price objective on shares of U.S. Bancorp and gave the company a “hold” rating in a research note on Monday, October 22nd. Finally, Nomura dropped their price objective on shares of U.S. Bancorp from $60.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, October 18th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. U.S. Bancorp presently has an average rating of “Hold” and a consensus price target of $59.36.
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About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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