Monarch Capital Management Inc. increased its stake in U.S. Bancorp (NYSE:USB) by 0.3% during the second quarter, Holdings Channel reports. The fund owned 102,005 shares of the financial services provider’s stock after buying an additional 300 shares during the period. U.S. Bancorp makes up about 1.5% of Monarch Capital Management Inc.’s holdings, making the stock its 29th largest position. Monarch Capital Management Inc.’s holdings in U.S. Bancorp were worth $4,114,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NN Investment Partners Holdings N.V. raised its position in shares of U.S. Bancorp by 12.8% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,440,460 shares of the financial services provider’s stock valued at $58,092,000 after buying an additional 163,847 shares in 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 valued at $93,357,000 after buying an additional 55,890 shares in the last quarter. Mar Vista Investment Partners LLC raised its position in shares of U.S. Bancorp by 1.0% in the second quarter. Mar Vista Investment Partners LLC now owns 502,234 shares of the financial services provider’s stock valued at $20,255,000 after buying an additional 4,813 shares in the last quarter. 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 valued at $89,457,000 after buying an additional 52,569 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of U.S. Bancorp by 1.1% in the first quarter. Legal & General Group Plc now owns 7,907,393 shares of the financial services provider’s stock valued at $320,981,000 after buying an additional 82,481 shares in the last quarter. 72.58% of the stock is owned by hedge funds and other institutional investors.
Shares of U.S. Bancorp (NYSE:USB) traded down 0.07% during trading on Friday, reaching $42.85. The company’s stock had a trading volume of 5,785,382 shares. U.S. Bancorp has a 52 week low of $37.07 and a 52 week high of $44.58. The company has a 50 day moving average price of $43.31 and a 200 day moving average price of $42.11. The firm has a market capitalization of $73.34 billion, a P/E ratio of 13.43 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 EPS for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.03. U.S. Bancorp had a return on equity of 14.05% and a net margin of 26.56%. The business had revenue of $5.45 billion for the quarter. During the same quarter last year, the firm posted $0.80 EPS. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. On average, equities research analysts expect that U.S. Bancorp will post $3.25 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be given a dividend of $0.28 per share. The ex-dividend date is Wednesday, September 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.61%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.26. U.S. Bancorp’s payout ratio is 35.00%.
Several research analysts recently issued reports on the company. Wedbush assumed coverage on U.S. Bancorp in a research report on Thursday, October 6th. They set a “neutral” rating and a $46.00 target price on the stock. Portales Partners raised U.S. Bancorp from a “sector perform” rating to an “outperform” rating in a research report on Thursday, August 25th. Credit Agricole SA upped their target price on U.S. Bancorp from $43.00 to $45.00 and gave the company an “underperform” rating in a research report on Friday, September 23rd. Wells Fargo & Co. reaffirmed a “buy” rating on shares of U.S. Bancorp in a research report on Friday, September 16th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $44.00 target price on shares of U.S. Bancorp in a research report on Wednesday, August 10th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $45.21.
In related news, Vice Chairman Gillern Jeffry H. Von sold 102,961 shares of the business’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $42.00, for a total value of $4,324,362.00. Following the transaction, the insider now owns 178,422 shares in the company, valued at approximately $7,493,724. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Craig E. Gifford sold 2,500 shares of the business’s 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 completion of the transaction, the executive vice president now owns 49,881 shares in the company, valued at approximately $2,088,517.47. The disclosure for this sale can be found here. Insiders own 0.68% of the company’s stock.
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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