Community Trust & Investment Co. purchased a new position in shares of U.S. Bancorp (NYSE:USB – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,713 shares of the financial services provider’s stock, valued at approximately $222,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in USB. SRS Capital Advisors Inc. boosted its position in shares of U.S. Bancorp by 46.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 673 shares of the financial services provider’s stock worth $29,000 after buying an additional 215 shares during the period. Vestcor Inc raised its holdings in shares of U.S. Bancorp by 0.7% during the 4th quarter. Vestcor Inc now owns 33,480 shares of the financial services provider’s stock valued at $1,460,000 after purchasing an additional 230 shares in the last quarter. Sandy Spring Bank raised its holdings in U.S. Bancorp by 5.0% during the fourth quarter. Sandy Spring Bank now owns 5,329 shares of the financial services provider’s stock valued at $232,000 after buying an additional 254 shares in the last quarter. Acadian Asset Management LLC raised its stake in shares of U.S. Bancorp by 3.0% in the 1st 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 in the last quarter. Finally, Gamco Investors INC. ET AL boosted its position in U.S. Bancorp by 3.4% during the first quarter. Gamco Investors INC. ET AL now owns 8,520 shares of the financial services provider’s stock worth $453,000 after purchasing an additional 280 shares during the period. Institutional investors and hedge funds own 75.40% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on USB shares. StockNews.com initiated coverage on shares of U.S. Bancorp in a report on Thursday, August 17th. They set a “sell” rating for the company. HSBC initiated coverage on shares of U.S. Bancorp in a research report on Thursday, September 7th. They issued a “hold” rating and a $30.00 price target on the stock. Odeon Capital Group cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, June 23rd. The Goldman Sachs Group raised their target price on U.S. Bancorp from $34.00 to $39.00 and gave the stock a “neutral” rating in a research report on Thursday, July 20th. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $45.00 price objective on shares of U.S. Bancorp in a research note on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $46.71.
Insider Activity at U.S. Bancorp
In other news, CFO Terrance R. Dolan sold 26,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $39.75, for a total value of $1,033,500.00. Following the transaction, the chief financial officer now owns 166,992 shares in the company, valued at $6,637,932. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Terrance R. Dolan sold 26,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $39.75, for a total transaction of $1,033,500.00. Following the completion of the sale, the chief financial officer now directly owns 166,992 shares of the company’s stock, valued at $6,637,932. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Timothy A. Welsh sold 13,816 shares of U.S. Bancorp stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $39.79, for a total value of $549,738.64. Following the sale, the insider now owns 119,058 shares in the company, valued at $4,737,317.82. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.
U.S. Bancorp Stock Down 0.8 %
USB traded down $0.29 during midday trading on Tuesday, hitting $34.46. The company had a trading volume of 2,270,749 shares, compared to its average volume of 14,186,613. The company has a market capitalization of $52.83 billion, a price-to-earnings ratio of 9.63, a PEG ratio of 1.58 and a beta of 0.98. The stock’s 50 day moving average price is $37.27 and its 200 day moving average price is $35.09. 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 52 week low of $27.27 and a 52 week high of $49.95.
U.S. Bancorp (NYSE:USB – Get Free Report) last posted its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). U.S. Bancorp had a return on equity of 16.53% and a net margin of 16.59%. The firm had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same period last year, the company posted $1.09 earnings per share. The firm’s quarterly revenue was up 19.7% compared to the same quarter last year. On average, research analysts anticipate that U.S. Bancorp will post 4.44 earnings per share for the current fiscal year.
U.S. Bancorp Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 5.57%. The ex-dividend date of this dividend is Thursday, September 28th. U.S. Bancorp’s dividend payout ratio is currently 53.19%.
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 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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