Parthenon LLC reduced its stake in shares of U.S. Bancorp (NYSE:USB) by 0.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 41,537 shares of the financial services provider’s stock after selling 300 shares during the period. Parthenon LLC’s holdings in U.S. Bancorp were worth $1,675,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of USB. PGGM Investments raised its position in shares of U.S. Bancorp by 2.4% in the second quarter. PGGM Investments now owns 2,218,126 shares of the financial services provider’s stock worth $89,457,000 after buying an additional 52,569 shares during the last quarter. Genesee Valley Trust Co. raised its position in shares of U.S. Bancorp by 96.2% in the second quarter. Genesee Valley Trust Co. now owns 24,816 shares of the financial services provider’s stock worth $1,001,000 after buying an additional 12,165 shares during the last quarter. HL Financial Services LLC raised its position in shares of U.S. Bancorp by 2.5% in the second quarter. HL Financial Services LLC now owns 2,314,834 shares of the financial services provider’s stock worth $93,357,000 after buying an additional 55,890 shares during the last quarter. Trutina Financial LLC purchased a new position in shares of U.S. Bancorp during the second quarter worth about $1,798,000. Finally, Pitcairn Co. raised its position in shares of U.S. Bancorp by 52.1% in the second quarter. Pitcairn Co. now owns 29,860 shares of the financial services provider’s stock worth $1,204,000 after buying an additional 10,232 shares during the last quarter. Hedge funds and other institutional investors own 72.58% of the company’s stock.
U.S. Bancorp (NYSE:USB) traded down 1.14% during trading on Monday, hitting $42.47. The stock had a trading volume of 8,526,228 shares. U.S. Bancorp has a 12-month low of $37.07 and a 12-month high of $44.58. The stock has a 50 day moving average price of $43.28 and a 200 day moving average price of $41.91. The company has a market capitalization of $72.69 billion, a price-to-earnings ratio of 13.31 and a beta of 0.72.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Friday, July 15th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.80 by $0.03. U.S. Bancorp had a net margin of 26.56% and a return on equity of 14.05%. The company earned $5.45 billion during the quarter. During the same period last year, the firm earned $0.80 EPS. U.S. Bancorp’s quarterly revenue was up 8.1% on a year-over-year basis. Equities research analysts forecast that U.S. Bancorp will post $3.25 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be issued a $0.28 dividend. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, September 28th. This represents a $1.12 annualized dividend and a dividend yield of 2.64%. U.S. Bancorp’s payout ratio is 31.88%.
A number of equities analysts have issued reports on the company. Credit Agricole SA increased their price target on U.S. Bancorp from $43.00 to $45.00 and gave the company an “underperform” rating in a research note on Friday. Piper Jaffray Cos. reissued an “overweight” rating and set a $46.00 price objective (down from $47.00) on shares of U.S. Bancorp in a research note on Monday, September 19th. Zacks Investment Research lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, September 19th. Oppenheimer Holdings Inc. reissued a “hold” rating on shares of U.S. Bancorp in a research note on Saturday, September 17th. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of U.S. Bancorp in a research note on Friday, September 16th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $45.17.
In related news, Vice Chairman Gillern Jeffry H. Von sold 102,961 shares of the company’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $42.00, for a total value of $4,324,362.00. Following the completion of the transaction, the insider now directly owns 178,422 shares of the company’s stock, valued at approximately $7,493,724. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Craig E. Gifford sold 2,500 shares of the company’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $41.87, for a total transaction of $104,675.00. Following the completion of the transaction, the executive vice president now directly owns 49,881 shares of the company’s stock, valued at $2,088,517.47. The disclosure for this sale can be found here. 0.68% 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’s banking subsidiary, U.S. Bank National Association, is engaged in the general banking business in domestic markets. It provides a range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services.
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