Glenview State Bank Trust DEPT. continued to hold its position in shares of U.S. Bancorp (NYSE:USB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 178,362 shares of the financial services provider’s stock at the end of the second quarter. U.S. Bancorp comprises 4.2% of Glenview State Bank Trust DEPT.’s portfolio, making the stock its 4th largest position. Glenview State Bank Trust DEPT.’s holdings in U.S. Bancorp were worth $7,194,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. James Investment Research Inc. boosted its position in shares of U.S. Bancorp by 1.4% in the second quarter. James Investment Research Inc. now owns 4,055 shares of the financial services provider’s stock valued at $164,000 after buying an additional 55 shares during the period. Trust Department MB Financial Bank N A boosted its position in shares of U.S. Bancorp by 7.8% in the second quarter. Trust Department MB Financial Bank N A now owns 4,786 shares of the financial services provider’s stock valued at $208,000 after buying an additional 345 shares during the period. Cypress Capital Management LLC WY purchased a new position in shares of U.S. Bancorp during the second quarter valued at about $198,000. JFS Wealth Advisors LLC boosted its position in shares of U.S. Bancorp by 16,150.0% in the second quarter. JFS Wealth Advisors LLC now owns 5,200 shares of the financial services provider’s stock valued at $210,000 after buying an additional 5,168 shares during the period. Finally, Howland Capital Management LLC boosted its position in shares of U.S. Bancorp by 1.2% in the second quarter. Howland Capital Management LLC now owns 5,367 shares of the financial services provider’s stock valued at $216,000 after buying an additional 65 shares during the period. 72.56% of the stock is owned by institutional investors and hedge funds.
U.S. Bancorp (NYSE:USB) traded up 1.33% during midday trading on Wednesday, reaching $43.58. 10,309,451 shares of the company were exchanged. U.S. Bancorp has a 52 week low of $37.07 and a 52 week high of $44.58. The firm’s 50 day moving average price is $43.27 and its 200-day moving average price is $42.16. The stock has a market capitalization of $74.59 billion, a P/E ratio of 13.66 and a beta of 0.82.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, October 19th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.84. U.S. Bancorp had a net margin of 26.56% and a return on equity of 14.05%. The company earned $5.39 billion during the quarter, compared to analyst estimates of $5.35 billion. During the same period last year, the firm posted $0.81 EPS. U.S. Bancorp’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities analysts forecast that U.S. Bancorp will post $3.25 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 17th. Shareholders of record on Friday, September 30th were given a dividend of $0.28 per share. The ex-dividend date was Wednesday, September 28th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.26. This represents a $1.12 dividend on an annualized basis and a yield of 2.57%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 35.00%.
A number of brokerages have recently commented on USB. Wedbush began coverage on shares of U.S. Bancorp in a research note on Thursday, October 6th. They issued a “neutral” rating and a $46.00 price target for the company. Credit Agricole SA lifted their price target on shares of U.S. Bancorp from $43.00 to $45.00 and gave the stock an “underperform” rating in a research note on Friday, September 23rd. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $46.00 price target (down from $47.00) on shares of U.S. Bancorp in a research note on Monday, September 19th. Zacks Investment Research lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, September 19th. Finally, Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a research note on Saturday, September 17th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $45.22.
In other news, Vice Chairman Gillern Jeffry H. Von sold 102,961 shares of the firm’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $42.00, for a total transaction of $4,324,362.00. Following the sale, the insider now owns 178,422 shares of the company’s stock, valued at approximately $7,493,724. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Craig E. Gifford sold 2,500 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 49,881 shares in the company, 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.
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