DF Dent & Co. Inc. continued to hold its stake in shares of U.S. Bancorp (NYSE:USB) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,686 shares of the financial services provider’s stock at the end of the first quarter. DF Dent & Co. Inc.’s holdings in U.S. Bancorp were worth $1,632,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Orrstown Financial Services Inc. increased its stake in shares of U.S. Bancorp by 26.9% in the first quarter. Orrstown Financial Services Inc. now owns 2,240 shares of the financial services provider’s stock valued at $116,000 after buying an additional 475 shares in the last quarter. SRS Capital Advisors Inc. increased its stake in shares of U.S. Bancorp by 17.0% in the first quarter. SRS Capital Advisors Inc. now owns 2,547 shares of the financial services provider’s stock valued at $131,000 after buying an additional 371 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in shares of U.S. Bancorp during the first quarter valued at about $155,000. WealthTrust Arizona LLC increased its stake in shares of U.S. Bancorp by 31.8% in the first quarter. WealthTrust Arizona LLC now owns 3,033 shares of the financial services provider’s stock valued at $156,000 after buying an additional 732 shares in the last quarter. Finally, American National Bank bought a new stake in shares of U.S. Bancorp during the first quarter valued at about $167,000. Hedge funds and other institutional investors own 75.84% of the company’s stock.
U.S. Bancorp (NYSE:USB) traded down 0.85% on Thursday, hitting $52.78. 1,111,051 shares of the company were exchanged. The firm has a market cap of $88.29 billion, a price-to-earnings ratio of 15.95 and a beta of 0.86. U.S. Bancorp has a one year low of $41.47 and a one year high of $56.61. The stock has a 50 day moving average price of $52.29 and a 200 day moving average price of $52.54.
U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, July 19th. The financial services provider reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.01. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter in the prior year, the firm earned $0.82 earnings per share. The business’s quarterly revenue was up .7% on a year-over-year basis. On average, equities research analysts forecast that U.S. Bancorp will post $3.44 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 2.10%. The ex-dividend date was Wednesday, June 28th. U.S. Bancorp’s payout ratio is presently 33.63%.
U.S. Bancorp declared that its board has authorized a stock buyback plan on Wednesday, June 28th that authorizes the company to repurchase $2.60 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
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USB has been the subject of several recent research reports. BidaskClub upgraded U.S. Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Jefferies Group LLC reissued a “buy” rating and issued a $59.00 price objective on shares of U.S. Bancorp in a research report on Friday, June 9th. Argus raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Thursday, July 20th. Rafferty Capital Markets cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $53.00 price objective for the company. in a research report on Thursday, April 20th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. U.S. Bancorp has an average rating of “Hold” and a consensus price target of $52.85.
In other U.S. Bancorp news, Vice Chairman P.W. Parker sold 29,449 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $51.94, for a total value of $1,529,581.06. Following the completion of the sale, the insider now owns 307,698 shares of the company’s stock, valued at $15,981,834.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.39% of the stock is currently owned by corporate insiders.
About U.S. Bancorp
U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.
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