U.S. Bancorp (NYSE:USB) Shares Sold by Rothschild Investment Corp IL
Rothschild Investment Corp IL reduced its stake in shares of U.S. Bancorp (NYSE:USB) by 0.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,603 shares of the financial services provider’s stock after selling 165 shares during the period. Rothschild Investment Corp IL’s holdings in U.S. Bancorp were worth $1,849,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of USB. Hudock Capital Group LLC raised its stake in shares of U.S. Bancorp by 0.4% in the first quarter. Hudock Capital Group LLC now owns 3,787 shares of the financial services provider’s stock valued at $195,000 after buying an additional 16 shares during the period. BSW Wealth Partners increased its position in U.S. Bancorp by 0.6% in the first quarter. BSW Wealth Partners now owns 3,973 shares of the financial services provider’s stock valued at $205,000 after buying an additional 23 shares in the last quarter. Beese Fulmer Investment Management Inc. increased its position in U.S. Bancorp by 0.4% in the first quarter. Beese Fulmer Investment Management Inc. now owns 5,610 shares of the financial services provider’s stock valued at $289,000 after buying an additional 25 shares in the last quarter. D. Scott Neal Inc. increased its position in U.S. Bancorp by 0.5% in the first quarter. D. Scott Neal Inc. now owns 7,488 shares of the financial services provider’s stock valued at $386,000 after buying an additional 36 shares in the last quarter. Finally, Green Square Capital LLC increased its position in U.S. Bancorp by 0.4% in the first quarter. Green Square Capital LLC now owns 11,322 shares of the financial services provider’s stock valued at $586,000 after buying an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 76.25% of the company’s stock.
Shares of U.S. Bancorp (NYSE USB) traded up 1.527% during midday trading on Monday, reaching $52.845. The company’s stock had a trading volume of 1,510,497 shares. The stock has a market capitalization of $88.40 billion, a P/E ratio of 15.965 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. The stock’s 50-day moving average is $52.32 and its 200 day moving average is $52.55.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.01. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. During the same quarter in the previous year, the firm earned $0.82 EPS. The firm’s revenue was up .7% compared to the same quarter last year. On average, analysts expect that U.S. Bancorp will post $3.44 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were issued a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.12 annualized dividend and a yield of 2.12%. U.S. Bancorp’s dividend payout ratio (DPR) is 33.63%.
U.S. Bancorp declared that its board has approved 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 an indication that the company’s leadership believes its stock is undervalued.
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Several equities analysts have weighed in on the company. Wells Fargo & Company assumed coverage on U.S. Bancorp in a research report on Wednesday, August 9th. They issued a “market perform” rating and a $56.00 target price for the company. Jefferies Group LLC reaffirmed a “buy” rating and issued a $59.00 target price on shares of U.S. Bancorp in a research report on Friday, June 9th. BidaskClub downgraded U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Rafferty Capital Markets downgraded 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, Argus upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Thursday, July 20th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $52.85.
In other U.S. Bancorp news, Vice Chairman P.W. Parker sold 29,449 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $51.94, for a total value of $1,529,581.06. Following the completion of the transaction, the insider now owns 307,698 shares of the company’s stock, valued at approximately $15,981,834.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.39% of the company’s stock.
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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