Smith Salley & Associates Increases Holdings in U.S. Bancorp (USB)

Smith Salley & Associates raised its holdings in shares of U.S. Bancorp (NYSE:USB) by 0.6% in the third quarter, Holdings Channel reports. The institutional investor owned 201,043 shares of the financial services provider’s stock after acquiring an additional 1,110 shares during the period. U.S. Bancorp comprises about 1.7% of Smith Salley & Associates’ portfolio, making the stock its 16th biggest holding. Smith Salley & Associates’ holdings in U.S. Bancorp were worth $10,616,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Field & Main Bank increased 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 worth $159,000 after purchasing an additional 1,000 shares in the last quarter. Auxier Asset Management increased its stake in shares of U.S. Bancorp by 8.6% in the second quarter. Auxier Asset Management now owns 12,660 shares of the financial services provider’s stock worth $633,000 after purchasing an additional 1,000 shares in the last quarter. Legacy Capital Partners Inc. increased its stake in shares of U.S. Bancorp by 7.2% in the third quarter. Legacy Capital Partners Inc. now owns 14,841 shares of the financial services provider’s stock worth $784,000 after purchasing an additional 1,000 shares in the last quarter. Curbstone Financial Management Corp increased its stake in shares of U.S. Bancorp by 2.4% in the third quarter. Curbstone Financial Management Corp now owns 42,950 shares of the financial services provider’s stock worth $2,268,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Homrich & Berg grew its stake in U.S. Bancorp by 2.9% during the second quarter. Homrich & Berg now owns 35,620 shares of the financial services provider’s stock valued at $1,782,000 after acquiring an additional 1,018 shares in the last quarter. 74.42% of the stock is owned by institutional investors and hedge funds.

USB has been the subject of several research analyst reports. CIBC raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating in a research note on Thursday, October 18th. Zacks Investment Research cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Nomura cut their target price on shares of U.S. Bancorp from $60.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, October 18th. UBS Group raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating in a research note on Thursday, October 18th. Finally, Macquarie raised shares of U.S. Bancorp from a “neutral” rating to an “outperform” rating and raised their target price for the company from $56.00 to $62.00 in a research note on Wednesday, October 10th. Three investment 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’s stock. U.S. Bancorp has a consensus rating of “Hold” and an average target price of $59.36.

USB stock opened at $53.15 on Friday. U.S. Bancorp has a 52 week low of $48.49 and a 52 week high of $58.50. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.85 and a quick ratio of 0.84. The firm has a market cap of $84.97 billion, a price-to-earnings ratio of 13.45, a price-to-earnings-growth ratio of 1.71 and a beta of 0.91.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, October 17th. The financial services provider reported $1.06 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.68 billion. During the same quarter last year, the business earned $0.88 earnings per share. U.S. Bancorp’s quarterly revenue was up 1.6% compared to the same quarter last year. Research analysts anticipate that U.S. Bancorp will post 4.1 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were given a dividend of $0.37 per share. The ex-dividend date was Thursday, September 27th. This represents a $1.48 annualized dividend and a yield of 2.78%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.30. U.S. Bancorp’s dividend payout ratio (DPR) is 43.27%.

In other U.S. Bancorp news, Vice Chairman Gillern Jeffry H. Von sold 17,508 shares of the stock in a transaction on 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 transaction, the insider now owns 121,137 shares in the company, valued at $6,154,970.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Terrance R. Dolan sold 15,524 shares of the stock in a transaction on Thursday, October 18th. The shares were sold at an average price of $52.91, for a total transaction of $821,374.84. Following the transaction, 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. Insiders have sold 216,406 shares of company stock valued at $11,420,610 in the last quarter. 0.43% of the stock is owned by company insiders.

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U.S. Bancorp Profile

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

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