HL Financial Services LLC raised its position in U.S. Bancorp (NYSE:USB) by 2.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,314,834 shares of the financial services provider’s stock after buying an additional 55,890 shares during the period. U.S. Bancorp makes up 2.2% of HL Financial Services LLC’s portfolio, making the stock its 12th largest position. HL Financial Services LLC’s holdings in U.S. Bancorp were worth $93,357,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Bank of Montreal Can acquired a new stake in U.S. Bancorp during the second quarter valued at approximately $86,393,000. Franklin Resources Inc. raised its position 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 valued at $722,733,000 after buying an additional 1,324,977 shares during the last quarter. NN Investment Partners Holdings N.V. acquired a new position in shares of U.S. Bancorp during the first quarter valued at about $51,818,000. Primecap Management Co. CA raised its position in shares of U.S. Bancorp by 23.9% in the first quarter. Primecap Management Co. CA now owns 4,819,325 shares of the financial services provider’s stock valued at $195,616,000 after buying an additional 929,325 shares during the last quarter. Finally, Douglas Lane & Associates LLC acquired a new position in shares of U.S. Bancorp during the first quarter valued at about $33,919,000. 72.58% of the stock is owned by institutional investors.
U.S. Bancorp (NYSE:USB) traded down 0.21% during mid-day trading on Thursday, hitting $43.17. The stock had a trading volume of 4,788,200 shares. The stock has a 50-day moving average price of $43.27 and a 200 day moving average price of $41.84. U.S. Bancorp has a 12-month low of $37.07 and a 12-month high of $44.58. The firm has a market cap of $73.89 billion, a P/E ratio of 13.53 and a beta of 0.72.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Friday, July 15th. The financial services provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $5.45 billion for the quarter. During the same quarter in the previous year, the company posted $0.80 EPS. The company’s revenue was up 8.1% compared to the same quarter last year. Equities analysts anticipate that U.S. Bancorp will post $3.25 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be issued a $0.28 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.59%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.26. U.S. Bancorp’s dividend payout ratio is presently 31.88%.
A number of research analysts have recently issued reports on the company. Nomura reiterated a “buy” rating on shares of U.S. Bancorp in a report on Saturday, July 9th. Barclays PLC reiterated a “buy” rating on shares of U.S. Bancorp in a research note on Saturday, July 9th. Wells Fargo & Co. reiterated a “buy” rating on shares of U.S. Bancorp in a research note on Saturday, July 9th. Deutsche Bank AG reiterated a “hold” rating on shares of U.S. Bancorp in a research note on Sunday, June 26th. Finally, Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a research note on Saturday, September 17th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have given a buy rating to the stock. U.S. Bancorp presently has an average rating of “Hold” and a consensus price target of $45.18.
In other news, Vice Chairman Gillern Jeffry H. Von sold 102,961 shares of the stock in a transaction dated 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 transaction, the insider now owns 178,422 shares in the company, valued at approximately $7,493,724. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Craig E. Gifford sold 2,500 shares of the stock in a transaction dated Thursday, July 21st. The shares were 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 owns 49,881 shares in the company, valued at approximately $2,088,517.47. The disclosure for this sale can be found here. 0.68% of the stock is owned by insiders.
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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