Argent Trust Co Cuts Holdings in U.S. Bancorp (USB)
Argent Trust Co lowered its position in shares of U.S. Bancorp (NYSE:USB) by 4.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,893 shares of the financial services provider’s stock after selling 924 shares during the quarter. Argent Trust Co’s holdings in U.S. Bancorp were worth $981,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Stelac Advisory Services LLC acquired a new stake in shares of U.S. Bancorp during the 2nd quarter worth approximately $103,000. SRS Capital Advisors Inc. raised its position in shares of U.S. Bancorp by 17.0% during the 1st quarter. SRS Capital Advisors Inc. now owns 2,547 shares of the financial services provider’s stock worth $131,000 after purchasing an additional 371 shares during the period. Orrstown Financial Services Inc. raised its position in shares of U.S. Bancorp by 30.4% during the 2nd quarter. Orrstown Financial Services Inc. now owns 2,921 shares of the financial services provider’s stock worth $152,000 after purchasing an additional 681 shares during the period. Hudock Capital Group LLC raised its position in shares of U.S. Bancorp by 0.4% during the 2nd quarter. Hudock Capital Group LLC now owns 3,804 shares of the financial services provider’s stock worth $197,000 after purchasing an additional 17 shares during the period. Finally, Opus Capital Group LLC acquired a new stake in shares of U.S. Bancorp during the 2nd quarter worth approximately $202,000. Hedge funds and other institutional investors own 74.23% of the company’s stock.
Several analysts recently commented on USB shares. BidaskClub cut U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Argus upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Thursday, July 20th. Wells Fargo & Company started coverage on U.S. Bancorp in a research report on Wednesday, August 9th. They issued a “market perform” rating and a $56.00 target price on the stock. Finally, Jefferies Group LLC restated a “buy” rating and issued a $59.00 target price on shares of U.S. Bancorp in a research report on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. U.S. Bancorp has an average rating of “Hold” and an average target price of $53.82.
Shares of U.S. Bancorp (NYSE:USB) opened at $54.86 on Tuesday. The stock has a market capitalization of $90,691.19, a price-to-earnings ratio of 16.22, a PEG ratio of 2.13 and a beta of 0.86. U.S. Bancorp has a 1-year low of $43.83 and a 1-year high of $56.61. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.79.
U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.88. The company had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.60 billion. U.S. Bancorp had a return on equity of 13.91% and a net margin of 25.46%. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.84 earnings per share. sell-side analysts expect that U.S. Bancorp will post 3.43 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.19%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, September 28th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 35.61%.
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U.S. Bancorp Profile
U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.
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