Carret Asset Management LLC lowered its position in U.S. Bancorp (NYSE:USB) by 0.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,302 shares of the financial services provider’s stock after selling 309 shares during the period. Carret Asset Management LLC’s holdings in U.S. Bancorp were worth $2,553,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. American Century Companies Inc. increased its stake in shares of U.S. Bancorp by 106.9% in the second quarter. American Century Companies Inc. now owns 10,310,646 shares of the financial services provider’s stock worth $415,828,000 after buying an additional 5,326,919 shares during the period. Emerald Acquisition Ltd. purchased a new stake in shares of U.S. Bancorp during the second quarter worth approximately $154,541,000. Bank of Montreal Can purchased a new stake in shares of U.S. Bancorp during the second quarter worth approximately $86,393,000. Franklin Resources Inc. increased its stake in shares of U.S. Bancorp by 8.0% in the first quarter. Franklin Resources Inc. now owns 17,805,686 shares of the financial services provider’s stock worth $722,733,000 after buying an additional 1,324,977 shares during the period. Finally, NN Investment Partners Holdings N.V. purchased a new stake in shares of U.S. Bancorp during the first quarter worth approximately $51,818,000. Institutional investors and hedge funds own 72.58% of the company’s stock.
U.S. Bancorp (NYSE:USB) traded down 0.16% during mid-day trading on Friday, reaching $43.10. 876,942 shares of the company’s stock traded hands. The stock has a market capitalization of $73.77 billion, a PE ratio of 13.51 and a beta of 0.72. The firm’s 50-day moving average price is $43.27 and its 200 day moving average price is $41.84. U.S. Bancorp has a 12 month low of $37.07 and a 12 month high of $44.58.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Friday, July 15th. The financial services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.03. U.S. Bancorp had a return on equity of 14.05% and a net margin of 26.56%. The company earned $5.45 billion during the quarter. During the same period in the prior year, the company posted $0.80 earnings per share. The firm’s revenue was up 8.1% compared to the same quarter last year. Equities research analysts predict that U.S. Bancorp will post $3.25 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be given a $0.28 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Wednesday, September 28th. U.S. Bancorp’s dividend payout ratio (DPR) is 31.88%.
A number of equities research analysts have recently commented on USB shares. Keefe, Bruyette & Woods lowered their price target on shares of U.S. Bancorp from $45.00 to $43.00 and set a “market perform” rating for the company in a report on Tuesday, July 5th. Wells Fargo & Co. reiterated a “buy” rating on shares of U.S. Bancorp in a report on Friday, September 16th. Piper Jaffray Cos. reissued an “overweight” rating and issued a $47.00 target price (up from $46.00) on shares of U.S. Bancorp in a research report on Tuesday, July 19th. Credit Suisse Group AG reissued a “hold” rating on shares of U.S. Bancorp in a research report on Tuesday, July 12th. Finally, Zacks Investment Research cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $45.18.
In related news, Vice Chairman Gillern Jeffry H. Von sold 102,961 shares of the firm’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $42.00, for a total value of $4,324,362.00. Following the completion of the transaction, the insider now directly owns 178,422 shares of the company’s stock, valued at $7,493,724. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Craig E. Gifford sold 2,500 shares of the firm’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $41.87, for a total value of $104,675.00. Following the completion of the transaction, the executive vice president now directly owns 49,881 shares of the company’s stock, valued at $2,088,517.47. The disclosure for this sale can be found here. 0.68% 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’s banking subsidiary, U.S. Bank National Association, is engaged in the general banking business in domestic markets. It provides a range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services.
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