CENTRAL TRUST Co Acquires 1,144 Shares of U.S. Bancorp (USB)
CENTRAL TRUST Co raised its holdings in U.S. Bancorp (NYSE:USB) by 1.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 107,071 shares of the financial services provider’s stock after acquiring an additional 1,144 shares during the quarter. CENTRAL TRUST Co’s holdings in U.S. Bancorp were worth $5,559,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. SRS Capital Advisors Inc. increased its position in U.S. Bancorp by 17.0% in the 1st quarter. SRS Capital Advisors Inc. now owns 2,547 shares of the financial services provider’s stock valued at $131,000 after acquiring an additional 371 shares during the period. Signature Estate & Investment Advisors LLC acquired a new position in U.S. Bancorp in the 1st quarter valued at approximately $155,000. Tradewinds Capital Management LLC increased its position in U.S. Bancorp by 87.4% in the 1st quarter. Tradewinds Capital Management LLC now owns 3,663 shares of the financial services provider’s stock valued at $189,000 after acquiring an additional 1,708 shares during the period. Sunbelt Securities Inc. increased its position in U.S. Bancorp by 41.7% in the 1st quarter. Sunbelt Securities Inc. now owns 3,912 shares of the financial services provider’s stock valued at $201,000 after acquiring an additional 1,151 shares during the period. Finally, BSW Wealth Partners increased its position in U.S. Bancorp by 0.6% in the 1st quarter. BSW Wealth Partners now owns 3,973 shares of the financial services provider’s stock valued at $205,000 after acquiring an additional 23 shares during the period. Hedge funds and other institutional investors own 73.97% of the company’s stock.
Shares of U.S. Bancorp (USB) traded up 0.21% on Friday, reaching $53.59. 7,211,926 shares of the company traded hands. U.S. Bancorp has a one year low of $42.17 and a one year high of $56.61. The stock has a market capitalization of $89.64 billion, a P/E ratio of 16.19 and a beta of 0.87. The stock’s 50 day moving average price is $52.00 and its 200-day moving average price is $52.08.
U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, July 19th. The financial services provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.84 by $0.01. The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.46 billion. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.82 earnings per share. Equities analysts forecast that U.S. Bancorp will post $3.43 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be given a dividend of $0.30 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, September 28th. U.S. Bancorp’s payout ratio is presently 36.04%.
U.S. Bancorp declared that its Board of Directors has initiated a share buyback plan on Wednesday, June 28th that authorizes the company to buyback $2.60 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
Several equities analysts have issued reports on USB shares. Argus upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Thursday, July 20th. BidaskClub upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Instinet cut shares of U.S. Bancorp from a “buy” rating to a “neutral” rating and decreased their price target for the company from $57.00 to $55.00 in a research report on Thursday. Jefferies Group LLC restated a “buy” rating and issued a $59.00 price target on shares of U.S. Bancorp in a research report on Friday, June 9th. Finally, Wells Fargo & Company started coverage on shares of U.S. Bancorp in a research report on Wednesday, August 9th. They issued a “market perform” rating and a $56.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $53.33.
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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