Foster & Motley Inc. Boosts Holdings in U.S. Bancorp (USB)
Foster & Motley Inc. boosted its position in U.S. Bancorp (NYSE:USB) by 1.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 94,205 shares of the financial services provider’s stock after purchasing an additional 906 shares during the quarter. Foster & Motley Inc.’s holdings in U.S. Bancorp were worth $4,891,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. SRS Capital Advisors Inc. boosted its holdings 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 valued at $131,000 after buying an additional 371 shares in the last quarter. Orrstown Financial Services Inc. grew its position in shares of U.S. Bancorp by 30.4% in the 2nd quarter. Orrstown Financial Services Inc. now owns 2,921 shares of the financial services provider’s stock worth $152,000 after buying an additional 681 shares during the period. Signature Estate & Investment Advisors LLC purchased a new stake in shares of U.S. Bancorp in the 1st quarter worth about $155,000. Tradewinds Capital Management LLC grew its position in shares of 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 worth $189,000 after buying an additional 1,708 shares during the period. Finally, Sunbelt Securities Inc. grew its position in shares of 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 worth $201,000 after buying an additional 1,151 shares during the period. Institutional investors and hedge funds own 73.97% of the company’s stock.
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Shares of U.S. Bancorp (NYSE:USB) opened at 53.59 on Monday. The stock has a market capitalization of $89.64 billion, a PE ratio of 16.19 and a beta of 0.87. U.S. Bancorp has a 52-week low of $42.37 and a 52-week high of $56.61. The company’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 quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.84 by $0.01. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.82 EPS. On average, equities research analysts anticipate that U.S. Bancorp will post $3.43 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.24%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, September 28th. U.S. Bancorp’s payout ratio is 36.04%.
U.S. Bancorp announced that its Board of Directors has authorized a stock repurchase program on Wednesday, June 28th that allows the company to repurchase $2.60 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
Several research analysts recently issued reports on the stock. Jefferies Group LLC reiterated a “buy” rating and issued a $59.00 price target on shares of U.S. Bancorp in a research note on Friday, June 9th. BidaskClub raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th. Argus upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Thursday, July 20th. Finally, Wells Fargo & Company began coverage on shares of U.S. Bancorp in a report on Wednesday, August 9th. They issued a “market perform” rating and a $56.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $53.33.
About U.S. Bancorp
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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