Enterprise Financial Services Corp Has $1,967,000 Position in U.S. Bancorp (USB)
Enterprise Financial Services Corp reduced its position in shares of U.S. Bancorp (NYSE:USB) by 1.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 45,850 shares of the financial services provider’s stock after selling 645 shares during the period. U.S. Bancorp comprises approximately 1.1% of Enterprise Financial Services Corp’s investment portfolio, making the stock its 18th largest position. Enterprise Financial Services Corp’s holdings in U.S. Bancorp were worth $1,967,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. First Personal Financial Services increased its stake in U.S. Bancorp by 40.7% in the second quarter. First Personal Financial Services now owns 2,784 shares of the financial services provider’s stock worth $112,000 after buying an additional 806 shares during the last quarter. Bellwether Investment Group LLC acquired a new stake in U.S. Bancorp during the second quarter valued at about $116,000. Adirondack Trust Co. increased its stake in U.S. Bancorp by 25.9% in the third quarter. Adirondack Trust Co. now owns 3,625 shares of the financial services provider’s stock valued at $155,000 after buying an additional 745 shares in the last quarter. Seven Eight Capital LLC increased its stake in U.S. Bancorp by 425.0% in the second quarter. Seven Eight Capital LLC now owns 4,200 shares of the financial services provider’s stock valued at $169,000 after buying an additional 3,400 shares in the last quarter. Finally, Point72 Asia Hong Kong Ltd increased its stake in U.S. Bancorp by 400.0% in the second quarter. Point72 Asia Hong Kong Ltd now owns 4,500 shares of the financial services provider’s stock valued at $181,000 after buying an additional 3,600 shares in the last quarter. 72.28% of the stock is owned by institutional investors and hedge funds.
U.S. Bancorp (NYSE:USB) opened at 51.69 on Friday. The company has a market cap of $89.80 billion, a price-to-earnings ratio of 16.36 and a beta of 0.84. The company has a 50-day moving average of $51.26 and a 200-day moving average of $45.30. U.S. Bancorp has a 12 month low of $37.07 and a 12 month high of $52.68.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, October 19th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.84. The company earned $5.39 billion during the quarter, compared to analysts’ expectations of $5.35 billion. U.S. Bancorp had a return on equity of 13.92% and a net margin of 26.24%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the business earned $0.81 earnings per share. Analysts predict that U.S. Bancorp will post $3.24 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 17th. Shareholders of record on Friday, December 30th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, December 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.17%. U.S. Bancorp’s payout ratio is presently 34.68%.
Several research firms have issued reports on USB. Atlantic Securities downgraded shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $46.00 to $52.00 in a research note on Wednesday, December 21st. Zacks Investment Research upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a research note on Tuesday, December 20th. Susquehanna downgraded shares of U.S. Bancorp from a “positive” rating to a “neutral” rating in a research note on Thursday, December 1st. They noted that the move was a valuation call. Deutsche Bank AG boosted their price objective on shares of U.S. Bancorp from $46.00 to $54.00 and gave the stock a “hold” rating in a research note on Wednesday, November 30th. Finally, Wedbush boosted their price objective on shares of U.S. Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 30th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eleven have given a buy rating to the stock. U.S. Bancorp has a consensus rating of “Hold” and a consensus target price of $47.00.
In related news, Director Arthur D. Collins, Jr. sold 35,845 shares of U.S. Bancorp stock in a transaction dated Thursday, October 20th. The stock was sold at an average price of $44.01, for a total value of $1,577,538.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Terrance R. Dolan sold 2,700 shares of U.S. Bancorp stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $44.20, for a total value of $119,340.00. Following the completion of the transaction, the insider now directly owns 61,095 shares of the company’s stock, valued at $2,700,399. The disclosure for this sale can be found here. Company 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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