U.S. Bancorp (USB) Shares Bought by Baker Ellis Asset Management LLC
Baker Ellis Asset Management LLC increased its stake in U.S. Bancorp (NYSE:USB) by 1.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 93,746 shares of the financial services provider’s stock after buying an additional 928 shares during the quarter. U.S. Bancorp accounts for approximately 1.3% of Baker Ellis Asset Management LLC’s portfolio, making the stock its 15th largest holding. Baker Ellis Asset Management LLC’s holdings in U.S. Bancorp were worth $4,867,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. BSW Wealth Partners lifted its holdings in U.S. Bancorp by 0.6% during the first quarter. BSW Wealth Partners now owns 3,973 shares of the financial services provider’s stock valued at $205,000 after purchasing an additional 23 shares during the last quarter. First National Bank of Hutchinson raised its position in shares of U.S. Bancorp by 0.3% in the second quarter. First National Bank of Hutchinson now owns 10,838 shares of the financial services provider’s stock valued at $576,000 after purchasing an additional 32 shares during the period. D. Scott Neal Inc. raised its position in shares of U.S. Bancorp by 0.5% in the second quarter. D. Scott Neal Inc. now owns 7,524 shares of the financial services provider’s stock valued at $391,000 after purchasing an additional 36 shares during the period. Green Square Capital LLC raised its position in shares of 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 purchasing an additional 41 shares during the period. Finally, Smith Moore & CO. raised its position in shares of U.S. Bancorp by 0.4% in the first quarter. Smith Moore & CO. now owns 13,586 shares of the financial services provider’s stock valued at $700,000 after purchasing an additional 51 shares during the period. 73.97% of the stock is currently owned by institutional investors.
U.S. Bancorp (NYSE USB) opened at 53.47 on Wednesday. The company has a 50 day moving average of $52.23 and a 200 day moving average of $51.98. The stock has a market capitalization of $89.44 billion, a P/E ratio of 16.15 and a beta of 0.87. U.S. Bancorp has a 52 week low of $42.37 and a 52 week high of $56.61.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.46 billion. U.S. Bancorp’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 EPS. Equities analysts expect that U.S. Bancorp will post $3.43 EPS for the current fiscal year.
U.S. Bancorp declared that its Board of Directors has approved a stock buyback plan on Wednesday, June 28th that allows the company to repurchase $2.60 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.24%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.28. The ex-dividend date is Thursday, September 28th. U.S. Bancorp’s dividend payout ratio is presently 36.04%.
A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday. Bank of America Corporation lowered U.S. Bancorp from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $56.00 to $54.00 in a report on Monday. Nomura cut U.S. Bancorp from a “buy” rating to a “neutral” rating and reduced their price target for the company from $57.00 to $55.00 in a research report on Thursday, September 28th. Instinet cut U.S. Bancorp from a “buy” rating to a “neutral” rating and reduced their price target for the company from $57.00 to $55.00 in a research report on Thursday, September 28th. Finally, Robert W. Baird reiterated a “hold” rating and set a $48.00 price objective on shares of U.S. Bancorp in a research note on Tuesday, September 5th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $53.38.
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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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