U.S. Bancorp (USB) Position Maintained by Altfest L J & Co. Inc.
Altfest L J & Co. Inc. held its stake in shares of U.S. Bancorp (NYSE:USB) during the second quarter, Holdings Channel reports. The firm owned 15,230 shares of the financial services provider’s stock at the end of the second quarter. Altfest L J & Co. Inc.’s holdings in U.S. Bancorp were worth $791,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Parthenon LLC increased its stake in shares of U.S. Bancorp by 1.8% in the second quarter. Parthenon LLC now owns 41,475 shares of the financial services provider’s stock worth $2,153,000 after buying an additional 732 shares in the last quarter. Sabal Trust CO boosted its position in U.S. Bancorp by 9.0% in the second quarter. Sabal Trust CO now owns 4,831 shares of the financial services provider’s stock valued at $251,000 after buying an additional 397 shares during the period. Schmidt P J Investment Management Inc. boosted its position in U.S. Bancorp by 2.7% in the second quarter. Schmidt P J Investment Management Inc. now owns 17,190 shares of the financial services provider’s stock valued at $893,000 after buying an additional 450 shares during the period. Torch Wealth Management LLC boosted its position in U.S. Bancorp by 4.0% in the second quarter. Torch Wealth Management LLC now owns 49,044 shares of the financial services provider’s stock valued at $2,546,000 after buying an additional 1,897 shares during the period. Finally, Manning & Napier Advisors LLC boosted its position in U.S. Bancorp by 10.1% in the second quarter. Manning & Napier Advisors LLC now owns 253,768 shares of the financial services provider’s stock valued at $13,175,000 after buying an additional 23,243 shares during the period. 76.25% of the stock is owned by institutional investors and hedge funds.
U.S. Bancorp (USB) traded up 0.40% during midday trading on Tuesday, hitting $53.00. 1,219,454 shares of the stock were exchanged. U.S. Bancorp has a one year low of $42.17 and a one year high of $56.61. The firm has a market capitalization of $88.66 billion, a price-to-earnings ratio of 16.01 and a beta of 0.86. The company has a 50 day moving average price of $52.38 and a 200 day moving average price of $52.55.
U.S. Bancorp (NYSE:USB) last released 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 net margin of 25.60% and a return on equity of 13.85%. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same quarter last year, the firm earned $0.82 EPS. U.S. Bancorp’s quarterly revenue was up .7% compared to the same quarter last year. Equities analysts anticipate that U.S. Bancorp will post $3.44 EPS for the current year.
U.S. Bancorp declared that its board has authorized a stock repurchase program on Wednesday, June 28th that permits the company to buyback $2.60 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.12%. The ex-dividend date of this dividend was Wednesday, June 28th. U.S. Bancorp’s payout ratio is 33.63%.
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Several research firms have commented on USB. Jefferies Group LLC restated a “buy” rating and issued a $59.00 target price on shares of U.S. Bancorp in a research report on Friday. Wells Fargo & Company began coverage on shares of 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. BidaskClub cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Finally, Rafferty Capital Markets cut 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 report on Thursday, April 20th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $52.85.
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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