Tradewinds Capital Management LLC Sells 40 Shares of U.S. Bancorp (USB)
Tradewinds Capital Management LLC reduced its position in shares of U.S. Bancorp (NYSE:USB) by 1.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,623 shares of the financial services provider’s stock after selling 40 shares during the period. Tradewinds Capital Management LLC’s holdings in U.S. Bancorp were worth $188,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of USB. SRS Capital Advisors Inc. raised its holdings in 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 valued at $131,000 after acquiring an additional 371 shares in the last quarter. Orrstown Financial Services Inc. raised its holdings in U.S. Bancorp by 30.4% in the second quarter. Orrstown Financial Services Inc. now owns 2,921 shares of the financial services provider’s stock valued at $152,000 after acquiring an additional 681 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in U.S. Bancorp in the first quarter valued at $155,000. Sunbelt Securities Inc. raised its holdings in U.S. Bancorp by 41.7% in the first 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 in the last quarter. Finally, Carroll Financial Associates Inc. raised its holdings in U.S. Bancorp by 16.6% in the second quarter. Carroll Financial Associates Inc. now owns 3,905 shares of the financial services provider’s stock valued at $202,000 after acquiring an additional 555 shares in the last quarter. 73.97% of the stock is currently owned by institutional investors and hedge funds.
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U.S. Bancorp (NYSE:USB) opened at 54.18 on Friday. The company has a market cap of $90.63 billion, a price-to-earnings ratio of 16.37 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 stock’s 50 day moving average is $52.33 and its 200 day moving average is $52.00.
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 firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. U.S. Bancorp’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the business earned $0.82 earnings per share. On average, analysts predict that U.S. Bancorp will post $3.42 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 issued a dividend of $0.30 per share. The ex-dividend date is Thursday, September 28th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.21%. U.S. Bancorp’s dividend payout ratio (DPR) 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 shares. This buyback authorization authorizes the financial services provider to repurchase up to 3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.
Several analysts recently issued reports on USB shares. Argus raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Thursday, July 20th. BidaskClub raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Instinet cut shares of U.S. Bancorp from a “buy” rating to a “neutral” rating and cut their price target for the company from $57.00 to $55.00 in a report on Thursday, September 28th. Wells Fargo & Company started 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 target on the stock. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, July 19th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have given a buy rating to the company. U.S. Bancorp presently has an average rating of “Hold” and a consensus price target of $53.07.
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.
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