Aveo Capital Partners LLC continued to hold its stake in U.S. Bancorp (NYSE:USB) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,208 shares of the financial services provider’s stock at the close of the 2nd quarter. Aveo Capital Partners LLC’s holdings in U.S. Bancorp were worth $218,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Global X Management Co. LLC grew its holdings in shares of U.S. Bancorp by 21.9% in the second quarter. Global X Management Co. LLC now owns 18,994 shares of the financial services provider’s stock valued at $986,000 after purchasing an additional 3,412 shares during the period. HL Financial Services LLC grew its holdings in shares of U.S. Bancorp by 1.0% in the second quarter. HL Financial Services LLC now owns 2,536,606 shares of the financial services provider’s stock valued at $131,701,000 after purchasing an additional 24,805 shares during the period. Barrett Asset Management LLC grew its holdings in shares of U.S. Bancorp by 1.0% in the second quarter. Barrett Asset Management LLC now owns 402,370 shares of the financial services provider’s stock valued at $20,891,000 after purchasing an additional 4,150 shares during the period. Advisor Partners LLC grew its holdings in shares of U.S. Bancorp by 31.3% in the second quarter. Advisor Partners LLC now owns 35,335 shares of the financial services provider’s stock valued at $1,835,000 after purchasing an additional 8,417 shares during the period. Finally, British Airways Pensions Investment Management Ltd purchased a new stake in shares of U.S. Bancorp in the second quarter valued at about $12,765,000. 73.97% of the stock is owned by hedge funds and other institutional investors.

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company assumed 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 objective for the company. Robert W. Baird reissued a “hold” rating and issued a $48.00 price objective on shares of U.S. Bancorp in a report on Friday. Bank of America Corporation lowered shares of U.S. Bancorp from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $56.00 to $54.00 in a report on Monday, October 2nd. BidaskClub lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $59.00 price objective on shares of U.S. Bancorp in a report on Friday, June 9th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $53.07.

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U.S. Bancorp (NYSE USB) opened at 54.18 on Friday. U.S. Bancorp has a 52 week low of $42.37 and a 52 week high of $56.61. The firm’s 50-day moving average is $52.33 and its 200 day moving average is $52.00. The stock 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 (NYSE:USB) last posted its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.84 by $0.01. The company 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%. The firm’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.82 EPS. On average, equities research analysts expect that U.S. Bancorp will post $3.42 EPS for the current year.

U.S. Bancorp announced that its Board of Directors has initiated a share buyback program on Wednesday, June 28th that permits the company to buyback $2.60 billion in shares. This buyback authorization permits the financial services provider to buy up to 3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders 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 represents a $1.20 dividend on an annualized basis and a dividend yield of 2.21%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.28. U.S. Bancorp’s payout ratio is presently 36.04%.

U.S. Bancorp 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.

Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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