Public Employees Retirement System of Ohio Reduces Position in U.S. Bancorp (USB)
Public Employees Retirement System of Ohio decreased its position in shares of U.S. Bancorp (NYSE:USB) by 0.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,138,452 shares of the financial services provider’s stock after selling 6,235 shares during the period. Public Employees Retirement System of Ohio’s holdings in U.S. Bancorp were worth $58,630,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of the stock. Orrstown Financial Services Inc. raised its position 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. raised its position 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 purchased a new position in shares of U.S. Bancorp during the first quarter worth about $155,000. WealthTrust Arizona LLC raised its position 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 purchased a new position in shares of U.S. Bancorp during the first quarter worth about $167,000. 76.25% of the stock is owned by hedge funds and other institutional investors.
Shares of U.S. Bancorp (NYSE:USB) traded up 0.0991% during mid-day trading on Wednesday, hitting $53.0325. The stock had a trading volume of 797,056 shares. The stock’s 50-day moving average price is $52.44 and its 200-day moving average price is $52.55. The stock has a market capitalization of $88.71 billion, a price-to-earnings ratio of 16.0219 and a beta of 0.86. 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 announced its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.01. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The company had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same quarter in the previous year, the business earned $0.82 EPS. The firm’s revenue was up .7% on a year-over-year basis. On average, equities analysts anticipate that U.S. Bancorp will post $3.44 EPS for the current fiscal year.
U.S. Bancorp declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 28th that permits the company to repurchase $2.60 billion in shares. This repurchase authorization permits the financial services provider to buy up to 3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Wednesday, June 28th. U.S. Bancorp’s dividend payout ratio (DPR) is 33.63%.
ILLEGAL ACTIVITY WARNING: This story was originally posted by Watch List News and is the sole property of of Watch List News. If you are accessing this story on another publication, it was copied illegally and reposted in violation of United States and international copyright and trademark legislation. The legal version of this story can be accessed at https://www.watchlistnews.com/public-employees-retirement-system-of-ohio-reduces-position-in-u-s-bancorp-usb/1495089.html.
Several equities research analysts have recently weighed in on USB shares. BidaskClub raised U.S. Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Jefferies Group LLC reissued a “buy” rating and set a $59.00 price objective on shares of U.S. Bancorp in a research note on Friday, June 9th. Argus raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Thursday, July 20th. Rafferty Capital Markets lowered U.S. Bancorp from a “buy” rating to a “hold” rating and set a $53.00 price objective for the company. in a research note on Thursday, April 20th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $52.85.
U.S. Bancorp Company 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.
Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB).
Receive News & Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related companies with Analyst Ratings Network's FREE daily email newsletter.