North Star Asset Management Inc. Acquires 3,983 Shares of U.S. Bancorp (USB)
North Star Asset Management Inc. raised its position in shares of U.S. Bancorp (NYSE:USB) by 8.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 49,765 shares of the financial services provider’s stock after buying an additional 3,983 shares during the period. North Star Asset Management Inc.’s holdings in U.S. Bancorp were worth $2,563,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in USB. Orrstown Financial Services Inc. boosted its stake in shares of U.S. Bancorp by 26.9% in the first quarter. Orrstown Financial Services Inc. now owns 2,240 shares of the financial services provider’s stock worth $116,000 after buying an additional 475 shares during the last quarter. SRS Capital Advisors Inc. boosted its stake in shares of U.S. Bancorp by 17.0% in the first quarter. SRS Capital Advisors Inc. now owns 2,547 shares of the financial services provider’s stock worth $131,000 after buying an additional 371 shares during the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in shares of U.S. Bancorp during the first quarter worth about $155,000. WealthTrust Arizona LLC boosted its stake in shares of U.S. Bancorp by 31.8% in the first quarter. WealthTrust Arizona LLC now owns 3,033 shares of the financial services provider’s stock worth $156,000 after buying an additional 732 shares during the last quarter. Finally, American National Bank acquired a new stake in shares of U.S. Bancorp during the first quarter worth about $167,000. 76.25% of the stock is owned by institutional investors.
Shares of U.S. Bancorp (NYSE USB) traded up 0.47% on Tuesday, reaching $53.04. The company’s stock had a trading volume of 736,509 shares. The stock has a market cap of $88.72 billion, a P/E ratio of 16.02 and a beta of 0.86. The firm’s 50-day moving average price is $52.38 and its 200-day moving average price is $52.55. U.S. Bancorp has a 12 month low of $42.17 and a 12 month high of $56.61.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.01. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.46 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the company posted $0.82 EPS. On average, analysts forecast that U.S. Bancorp will post $3.44 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were given a dividend of $0.28 per share. The ex-dividend date was Wednesday, June 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.12%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 33.63%.
U.S. Bancorp announced that its Board of Directors has initiated a share buyback plan on Wednesday, June 28th that allows the company to buyback $2.60 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
A number of equities research analysts have recently issued reports on USB shares. BidaskClub raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Jefferies Group LLC reissued a “buy” rating and issued a $59.00 target price on shares of U.S. Bancorp in a research report on Friday, June 9th. Argus raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Thursday, July 20th. Rafferty Capital Markets cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $53.00 target price for the company. in a research report on Thursday, April 20th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. U.S. Bancorp presently has an average rating of “Hold” and an average price target of $52.85.
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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