U.S. Bancorp (NYSE:USB) Position Maintained by American National Registered Investment Advisor Inc.
American National Registered Investment Advisor Inc. continued to hold its stake in shares of U.S. Bancorp (NYSE:USB) during the second quarter, Holdings Channel reports. The firm owned 33,081 shares of the financial services provider’s stock at the end of the second quarter. American National Registered Investment Advisor Inc.’s holdings in U.S. Bancorp were worth $1,718,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. SRS Capital Advisors Inc. bought a new stake in shares of U.S. Bancorp during the fourth quarter worth about $112,000. Orrstown Financial Services Inc. raised 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 period. Glassman Wealth Services bought a new stake in shares of U.S. Bancorp during the fourth quarter worth about $116,000. Signature Estate & Investment Advisors LLC bought a new stake in shares of U.S. Bancorp during the first quarter worth about $155,000. Finally, WealthTrust Arizona LLC raised 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 period. Institutional investors and hedge funds own 75.54% of the company’s stock.
Shares of U.S. Bancorp (NYSE USB) opened at 52.39 on Wednesday. The firm has a market cap of $88.29 billion, a P/E ratio of 15.87 and a beta of 0.86. U.S. Bancorp has a 12-month low of $41.13 and a 12-month high of $56.61. The company has a 50-day moving average of $51.92 and a 200 day moving average of $52.39.
U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.01. U.S. Bancorp had a return on equity of 13.99% and a net margin of 25.86%. The company had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same period last year, the company posted $0.82 earnings per share. The firm’s quarterly revenue was up .7% compared to the same quarter last year. Equities analysts predict that U.S. Bancorp will post $3.46 EPS for the current year.
U.S. Bancorp announced that its Board of Directors has authorized a share buyback plan on Wednesday, June 28th that allows the company to repurchase $2.60 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were paid a $0.28 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.17%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 33.84%.
ILLEGAL ACTIVITY NOTICE: “U.S. Bancorp (NYSE:USB) Position Maintained by American National Registered Investment Advisor Inc.” was originally reported by Watch List News and is the sole property of of Watch List News. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this piece can be read at https://www.watchlistnews.com/u-s-bancorp-nyseusb-position-maintained-by-american-national-registered-investment-advisor-inc/1452298.html.
A number of analysts recently issued reports on the stock. BidaskClub lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday. Jefferies Group LLC reiterated a “buy” rating and set a $59.00 target price on shares of U.S. Bancorp in a research note on Friday, June 9th. Rafferty Capital Markets lowered 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 note on Thursday, April 20th. Royal Bank Of Canada reiterated a “buy” rating and set a $55.00 target price on shares of U.S. Bancorp in a research note on Tuesday, April 4th. Finally, Wells Fargo & Company lowered shares of U.S. Bancorp from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $38.48 to $52.31 in a research note on Thursday, May 4th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $52.19.
In other news, Vice Chairman Leslie V. Godridge sold 25,746 shares of the firm’s stock in a transaction on Friday, April 21st. The stock was sold at an average price of $50.62, for a total value of $1,303,262.52. Following the completion of the sale, the insider now directly owns 73,857 shares in the company, valued at $3,738,641.34. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Vice Chairman P.W. Parker sold 29,449 shares of the firm’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $51.94, for a total value of $1,529,581.06. Following the completion of the sale, the insider now owns 307,698 shares of the company’s stock, valued at $15,981,834.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,387 shares of company stock valued at $3,573,382. 0.39% of the stock is currently owned by corporate insiders.
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.
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.