Community Bank & Trust Waco Texas lowered its position in U.S. Bancorp (NYSE:USB) by 6.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,575 shares of the financial services provider’s stock after selling 450 shares during the period. Community Bank & Trust Waco Texas’ holdings in U.S. Bancorp were worth $265,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the company. NN Investment Partners Holdings N.V. increased its stake in shares of U.S. Bancorp by 12.8% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,440,460 shares of the financial services provider’s stock worth $58,092,000 after buying an additional 163,847 shares during the period. HL Financial Services LLC increased its stake in shares of U.S. Bancorp by 2.5% in the second quarter. HL Financial Services LLC now owns 2,314,834 shares of the financial services provider’s stock worth $93,357,000 after buying an additional 55,890 shares during the period. Legal & General Group Plc increased its stake in shares of U.S. Bancorp by 1.1% in the first quarter. Legal & General Group Plc now owns 7,907,393 shares of the financial services provider’s stock worth $320,981,000 after buying an additional 82,481 shares during the period. Atlanta Capital Management Co. L L C increased its stake in shares of U.S. Bancorp by 16.3% in the first quarter. Atlanta Capital Management Co. L L C now owns 672,700 shares of the financial services provider’s stock worth $27,305,000 after buying an additional 94,316 shares during the period. Finally, PGGM Investments increased its stake in shares of U.S. Bancorp by 2.4% in the second quarter. PGGM Investments now owns 2,218,126 shares of the financial services provider’s stock worth $89,457,000 after buying an additional 52,569 shares during the period. 72.58% of the stock is owned by institutional investors.
U.S. Bancorp (NYSE:USB) traded down 0.54% during midday trading on Monday, reaching $42.66. The company had a trading volume of 5,421,920 shares. The company has a market capitalization of $73.01 billion, a P/E ratio of 13.37 and a beta of 0.82. The company’s 50 day moving average is $43.28 and its 200-day moving average is $41.98. U.S. Bancorp has a 52-week low of $37.07 and a 52-week high of $44.58.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Friday, July 15th. The financial services provider reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.03. The company had revenue of $5.45 billion for the quarter. U.S. Bancorp had a return on equity of 14.05% and a net margin of 26.56%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period last year, the firm posted $0.80 EPS. Equities analysts expect that U.S. Bancorp will post $3.25 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Wednesday, September 28th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.26. U.S. Bancorp’s payout ratio is 35.00%.
Several analysts have recently weighed in on USB shares. Zacks Investment Research downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Monday, September 19th. Credit Agricole SA boosted their target price on U.S. Bancorp from $43.00 to $45.00 and gave the company an “underperform” rating in a report on Friday, September 23rd. Wells Fargo & Co. reissued 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 $46.00 target price (down from $47.00) on shares of U.S. Bancorp in a report on Monday, September 19th. Finally, Portales Partners raised U.S. Bancorp from a “sector perform” rating to an “outperform” rating in a report on Thursday, August 25th. Two investment analysts have rated the stock with a sell rating, fourteen have given 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 price target of $45.17.
In related news, Vice Chairman Gillern Jeffry H. Von sold 102,961 shares of the firm’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $42.00, for a total transaction of $4,324,362.00. Following the transaction, the insider now owns 178,422 shares in the company, valued at $7,493,724. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Craig E. Gifford sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $41.87, for a total transaction of $104,675.00. Following the transaction, the executive vice president now owns 49,881 shares in the company, valued at approximately $2,088,517.47. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.
About U.S. Bancorp
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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