Parsec Financial Management Inc. held its position in shares of U.S. Bancorp (NYSE:USB) during the second quarter, Holdings Channel reports. The firm owned 5,581 shares of the financial services provider’s stock at the end of the second quarter. Parsec Financial Management Inc.’s holdings in U.S. Bancorp were worth $225,000 as of its most recent filing with the SEC.
Other institutional investors have also recently modified their holdings of the company. Franklin Resources Inc. increased its position in shares of U.S. Bancorp by 8.0% in the first quarter. Franklin Resources Inc. now owns 17,805,686 shares of the financial services provider’s stock worth $722,733,000 after buying an additional 1,324,977 shares during the last quarter. BlackRock Group LTD increased its position in shares of U.S. Bancorp by 3.1% in the first quarter. BlackRock Group LTD now owns 15,988,334 shares of the financial services provider’s stock worth $648,967,000 after buying an additional 478,684 shares during the last quarter. Wellington Management Group LLP increased its position in shares of U.S. Bancorp by 2.6% in the first quarter. Wellington Management Group LLP now owns 15,059,741 shares of the financial services provider’s stock worth $611,275,000 after buying an additional 384,013 shares during the last quarter. Geode Capital Management LLC increased its position in shares of U.S. Bancorp by 1.1% in the first quarter. Geode Capital Management LLC now owns 13,594,382 shares of the financial services provider’s stock worth $550,689,000 after buying an additional 153,855 shares during the last quarter. Finally, American Century Companies Inc. increased its position in shares of U.S. Bancorp by 106.9% in the second quarter. American Century Companies Inc. now owns 10,310,646 shares of the financial services provider’s stock worth $415,828,000 after buying an additional 5,326,919 shares during the last quarter. Institutional investors and hedge funds own 72.58% of the company’s stock.
Shares of U.S. Bancorp (NYSE:USB) traded down 1.199% on Tuesday, reaching $43.275. 2,601,276 shares of the company were exchanged. The stock’s 50-day moving average is $43.34 and its 200 day moving average is $42.07. U.S. Bancorp has a 12-month low of $37.07 and a 12-month high of $44.58. The firm has a market capitalization of $74.07 billion, a PE ratio of 13.566 and a beta of 0.82.
U.S. Bancorp (NYSE:USB) last posted its earnings results on Friday, July 15th. The financial services provider reported $0.83 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.03. The business earned $5.45 billion during the quarter. U.S. Bancorp had a return on equity of 14.05% and a net margin of 26.56%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.80 EPS. On average, analysts forecast that U.S. Bancorp will post $3.25 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Wednesday, September 28th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.26. U.S. Bancorp’s payout ratio is presently 35.00%.
A number of equities analysts recently weighed in on USB shares. Keefe, Bruyette & Woods lowered their target price on shares of U.S. Bancorp from $45.00 to $43.00 and set a “market perform” rating on the stock in a report on Tuesday, July 5th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $47.00 price objective (up from $46.00) on shares of U.S. Bancorp in a report on Tuesday, July 19th. Deutsche Bank AG reiterated a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, June 15th. Zacks Investment Research downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Monday, September 19th. Finally, FBR & Co reiterated a “buy” rating on shares of U.S. Bancorp in a report on Monday, July 18th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eleven have given a buy rating to the company. U.S. Bancorp currently has an average rating of “Hold” and an average price target of $45.21.
In other U.S. Bancorp news, Vice Chairman Gillern Jeffry H. Von sold 102,961 shares of U.S. Bancorp stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $42.00, for a total transaction of $4,324,362.00. Following the completion of the transaction, the insider now owns 178,422 shares of the company’s stock, valued at approximately $7,493,724. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Craig E. Gifford sold 2,500 shares of U.S. Bancorp stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $41.87, for a total value of $104,675.00. Following the transaction, the executive vice president now directly owns 49,881 shares of the company’s stock, valued at approximately $2,088,517.47. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.
About U.S. Bancorp
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.
Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB).
Receive News & Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.