U.S. Bancorp (USB) Position Held by Private Capital Management Inc.
Private Capital Management Inc. held its stake in shares of U.S. Bancorp (NYSE:USB) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,000 shares of the financial services provider’s stock at the end of the second quarter. Private Capital Management Inc.’s holdings in U.S. Bancorp were worth $260,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of USB. Investment Partners Ltd. OH ADV boosted its stake in U.S. Bancorp by 33.6% in the first quarter. Investment Partners Ltd. OH ADV now owns 8,054 shares of the financial services provider’s stock valued at $415,000 after buying an additional 2,024 shares during the period. Coastline Trust Co boosted its stake in U.S. Bancorp by 0.4% in the first quarter. Coastline Trust Co now owns 78,015 shares of the financial services provider’s stock valued at $4,018,000 after buying an additional 290 shares during the period. West Coast Financial LLC boosted its stake in U.S. Bancorp by 18.2% in the first quarter. West Coast Financial LLC now owns 7,761 shares of the financial services provider’s stock valued at $400,000 after buying an additional 1,193 shares during the period. Nelson Roberts Investment Advisors LLC boosted its stake in U.S. Bancorp by 0.3% in the first quarter. Nelson Roberts Investment Advisors LLC now owns 120,356 shares of the financial services provider’s stock valued at $6,198,000 after buying an additional 320 shares during the period. Finally, Vicus Capital boosted its stake in U.S. Bancorp by 58.6% in the first quarter. Vicus Capital now owns 8,869 shares of the financial services provider’s stock valued at $457,000 after buying an additional 3,276 shares during the period. 75.84% of the stock is currently owned by hedge funds and other institutional investors.
Shares of U.S. Bancorp (USB) traded down 0.69% during trading on Friday, reaching $52.02. 1,954,097 shares of the company traded hands. The company has a 50 day moving average price of $52.30 and a 200 day moving average price of $52.54. The firm has a market capitalization of $87.02 billion, a price-to-earnings ratio of 15.72 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 posted its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 EPS for the quarter, beating the Zacks’ 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 for the quarter, compared to analyst estimates of $5.46 billion. During the same period in the prior year, the firm posted $0.82 EPS. The company’s quarterly revenue was up .7% on a year-over-year basis. On average, equities analysts predict that U.S. Bancorp will post $3.44 EPS for the current year.
U.S. Bancorp declared that its board has initiated a share buyback plan on Wednesday, June 28th that authorizes the company to buyback $2.60 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.14%. U.S. Bancorp’s payout ratio is presently 33.63%.
Several analysts have recently commented on USB shares. Rafferty Capital Markets cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $53.00 price target on the stock. in a research note on Thursday, April 20th. Wells Fargo & Company cut shares of U.S. Bancorp from an “outperform” rating to a “market perform” rating and increased their price target 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. Jefferies Group LLC reissued a “buy” rating and set a $59.00 price target on shares of U.S. Bancorp in a research note on Friday, June 9th. BidaskClub raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. 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 issued a buy rating to the stock. U.S. Bancorp has an average rating of “Hold” and a consensus price target of $52.85.
In related news, Vice Chairman P.W. Parker sold 29,449 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $51.94, for a total transaction of $1,529,581.06. Following the transaction, the insider now owns 307,698 shares in the company, valued at approximately $15,981,834.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.39% of the stock is owned by insiders.
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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