U.S. Bancorp (USB) Shares Bought by Dubuque Bank & Trust Co.
Dubuque Bank & Trust Co. boosted its position in shares of U.S. Bancorp (NYSE:USB) by 43.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,220 shares of the financial services provider’s stock after buying an additional 6,148 shares during the period. Dubuque Bank & Trust Co.’s holdings in U.S. Bancorp were worth $1,050,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Waverton Investment Management Ltd raised its stake in shares of U.S. Bancorp by 48.5% in the first quarter. Waverton Investment Management Ltd now owns 999,977 shares of the financial services provider’s stock worth $51,499,000 after buying an additional 326,409 shares during the last quarter. Creative Planning raised its stake in shares of U.S. Bancorp by 18.6% in the first quarter. Creative Planning now owns 288,627 shares of the financial services provider’s stock worth $14,864,000 after buying an additional 45,276 shares during the last quarter. Douglass Winthrop Advisors LLC raised its stake in shares of U.S. Bancorp by 1.1% in the first quarter. Douglass Winthrop Advisors LLC now owns 11,650 shares of the financial services provider’s stock worth $600,000 after buying an additional 125 shares during the last quarter. Gulf International Bank UK Ltd raised its stake in shares of U.S. Bancorp by 0.5% in the first quarter. Gulf International Bank UK Ltd now owns 528,266 shares of the financial services provider’s stock worth $27,205,000 after buying an additional 2,630 shares during the last quarter. Finally, Addenda Capital Inc. raised its stake in U.S. Bancorp by 100.3% in the first quarter. Addenda Capital Inc. now owns 63,680 shares of the financial services provider’s stock worth $3,291,000 after buying an additional 31,893 shares in the last quarter. 75.84% of the stock is currently owned by institutional investors.
U.S. Bancorp (NYSE:USB) traded down 1.11% during trading on Thursday, reaching $52.64. The company had a trading volume of 2,161,938 shares. The company has a market capitalization of $88.05 billion, a PE ratio of 15.90 and a beta of 0.86. The stock has a 50 day moving average price of $52.29 and a 200-day moving average price of $52.54. U.S. Bancorp has a 52-week low of $41.47 and a 52-week high of $56.61.
U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.01. The company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.46 billion. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The company’s revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.82 EPS. On average, equities research analysts anticipate that U.S. Bancorp will post $3.44 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 2.10%. The ex-dividend date of this dividend was Wednesday, June 28th. U.S. Bancorp’s payout ratio is currently 33.63%.
U.S. Bancorp announced that its board has authorized a stock buyback program on Wednesday, June 28th that authorizes the company to repurchase $2.60 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
USB has been the topic of a number of recent research reports. Wells Fargo & Company lowered U.S. Bancorp from an “outperform” rating to a “market perform” rating and upped their price objective for the stock from $38.48 to $52.31 in a research report on Thursday, May 4th. They noted that the move was a valuation call. BidaskClub raised U.S. Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Jefferies Group LLC reaffirmed a “buy” rating and set a $59.00 price objective on shares of U.S. Bancorp in a research report on Friday, June 9th. Argus raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research report on Thursday, July 20th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. U.S. Bancorp has an average rating of “Hold” and a consensus price target of $52.85.
In other news, Vice Chairman P.W. Parker sold 29,449 shares of the business’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $51.94, for a total value of $1,529,581.06. Following the completion of the sale, 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 Securities & Exchange Commission, which is available through the SEC website. 0.39% of the stock is currently 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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