U.S. Bancorp (USB) Shares Bought by Ibex Wealth Advisors
Ibex Wealth Advisors raised its position in shares of U.S. Bancorp (NYSE:USB) by 9.4% during the first quarter, Holdings Channel reports. The firm owned 44,244 shares of the financial services provider’s stock after buying an additional 3,796 shares during the period. U.S. Bancorp makes up 1.4% of Ibex Wealth Advisors’ portfolio, making the stock its 28th largest position. Ibex Wealth Advisors’ holdings in U.S. Bancorp were worth $2,258,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Orrstown Financial Services Inc. increased its stake in shares of U.S. Bancorp by 26.9% in the first quarter. Orrstown Financial Services Inc. now owns 2,240 shares of the financial services provider’s stock worth $116,000 after buying an additional 475 shares during the period. SRS Capital Advisors Inc. increased its stake in shares of U.S. Bancorp by 17.0% in the first quarter. SRS Capital Advisors Inc. now owns 2,547 shares of the financial services provider’s stock worth $131,000 after buying an additional 371 shares during the period. Signature Estate & Investment Advisors LLC acquired a new stake in shares of U.S. Bancorp during the first quarter worth about $155,000. WealthTrust Arizona LLC increased its stake in shares of U.S. Bancorp by 31.8% in the first quarter. WealthTrust Arizona LLC now owns 3,033 shares of the financial services provider’s stock worth $156,000 after buying an additional 732 shares during the period. Finally, American National Bank acquired a new stake in shares of U.S. Bancorp during the first quarter worth about $167,000. Hedge funds and other institutional investors own 76.25% of the company’s stock.
Shares of U.S. Bancorp (USB) traded up 0.08% during trading on Wednesday, reaching $53.02. The company’s stock had a trading volume of 794,629 shares. U.S. Bancorp has a 12-month low of $42.17 and a 12-month high of $56.61. The company has a 50 day moving average of $52.44 and a 200-day moving average of $52.55. The stock has a market cap of $88.69 billion, a price-to-earnings ratio of 16.02 and a beta of 0.86.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $5.46 billion. During the same period in the prior year, the company earned $0.82 earnings per share. The firm’s revenue was up .7% on a year-over-year basis. Analysts forecast that U.S. Bancorp will post $3.44 EPS for the current year.
U.S. Bancorp declared that its Board of Directors has approved a share repurchase plan on Wednesday, June 28th that permits the company to buyback $2.60 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
The company also recently declared 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 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date was Wednesday, June 28th. U.S. Bancorp’s payout ratio is presently 33.63%.
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A number of brokerages have recently issued reports on USB. BidaskClub downgraded U.S. Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, July 16th. Wells Fargo & Company began coverage on U.S. Bancorp in a research report on Wednesday, August 9th. They set a “market perform” rating and a $56.00 price target for the company. Rafferty Capital Markets downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $53.00 price target for the company. in a research report on Thursday, April 20th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $59.00 price target on shares of U.S. Bancorp in a research report on Friday, August 11th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. U.S. Bancorp presently has a consensus rating of “Hold” and an average target price of $52.85.
About U.S. Bancorp
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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