U.S. Bancorp (USB) Stake Boosted by Wedbush Securities Inc.
Wedbush Securities Inc. lifted its stake in shares of U.S. Bancorp (NYSE:USB) by 16.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 38,765 shares of the financial services provider’s stock after purchasing an additional 5,542 shares during the quarter. Wedbush Securities Inc.’s holdings in U.S. Bancorp were worth $1,939,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. Sei Investments Co. boosted its position in shares of U.S. Bancorp by 0.8% in the 2nd quarter. Sei Investments Co. now owns 559,613 shares of the financial services provider’s stock worth $27,989,000 after buying an additional 4,539 shares in the last quarter. Hayek Kallen Investment Management purchased a new stake in shares of U.S. Bancorp in the 2nd quarter worth about $1,393,000. Becker Capital Management Inc. boosted its position in shares of U.S. Bancorp by 1.6% in the 2nd quarter. Becker Capital Management Inc. now owns 808,116 shares of the financial services provider’s stock worth $40,422,000 after buying an additional 12,731 shares in the last quarter. Willingdon Wealth Management boosted its position in shares of U.S. Bancorp by 5.2% in the 2nd quarter. Willingdon Wealth Management now owns 47,771 shares of the financial services provider’s stock worth $2,390,000 after buying an additional 2,364 shares in the last quarter. Finally, Financial Counselors Inc. boosted its position in shares of U.S. Bancorp by 54.0% in the 2nd quarter. Financial Counselors Inc. now owns 135,282 shares of the financial services provider’s stock worth $6,767,000 after buying an additional 47,409 shares in the last quarter. 73.54% of the stock is currently owned by institutional investors and hedge funds.
USB has been the topic of several recent research reports. ValuEngine lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, May 22nd. Citigroup upgraded shares of U.S. Bancorp from a “neutral” rating to a “buy” rating and set a $58.00 price objective on the stock in a research report on Friday, May 11th. Morgan Stanley decreased their price objective on shares of U.S. Bancorp from $61.00 to $57.00 and set an “underweight” rating on the stock in a research report on Thursday, April 19th. Wedbush reiterated a “neutral” rating on shares of U.S. Bancorp in a research report on Monday, July 23rd. Finally, Susquehanna Bancshares set a $57.00 price objective on shares of U.S. Bancorp and gave the stock a “hold” rating in a research report on Monday, April 23rd. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $58.58.
U.S. Bancorp opened at $53.10 on Friday, MarketBeat Ratings reports. The stock has a market capitalization of $87.12 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 1.75 and a beta of 0.98. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.82 and a current ratio of 0.83. U.S. Bancorp has a 12-month low of $48.49 and a 12-month high of $58.50.
U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, July 18th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.01. The company had revenue of $5.64 billion for the quarter, compared to analyst estimates of $5.64 billion. U.S. Bancorp had a net margin of 26.96% and a return on equity of 14.66%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 EPS. analysts forecast that U.S. Bancorp will post 4.07 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 16th. Stockholders of record on Friday, June 29th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, June 28th. This represents a $1.20 annualized dividend and a dividend yield of 2.26%. U.S. Bancorp’s payout ratio is currently 35.09%.
U.S. Bancorp Company Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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