U.S. Bancorp (NYSE:USB) Shares Sold by LaFleur & Godfrey LLC

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LaFleur & Godfrey LLC decreased its stake in shares of U.S. Bancorp (NYSE:USB) by 3.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,279 shares of the financial services provider’s stock after selling 2,840 shares during the quarter. LaFleur & Godfrey LLC’s holdings in U.S. Bancorp were worth $4,887,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of USB. Brookmont Capital Management increased its stake in shares of U.S. Bancorp by 0.5% in the second quarter. Brookmont Capital Management now owns 36,674 shares of the financial services provider’s stock worth $1,922,000 after acquiring an additional 195 shares during the period. Plancorp LLC increased its stake in shares of U.S. Bancorp by 0.4% in the second quarter. Plancorp LLC now owns 48,413 shares of the financial services provider’s stock worth $2,537,000 after acquiring an additional 195 shares during the period. Sky Investment Group LLC increased its stake in shares of U.S. Bancorp by 1.8% in the second quarter. Sky Investment Group LLC now owns 11,250 shares of the financial services provider’s stock worth $590,000 after acquiring an additional 200 shares during the period. Culbertson A N & Co. Inc. increased its stake in shares of U.S. Bancorp by 0.5% in the second quarter. Culbertson A N & Co. Inc. now owns 42,696 shares of the financial services provider’s stock worth $2,237,000 after acquiring an additional 200 shares during the period. Finally, SeaCrest Wealth Management LLC increased its stake in shares of U.S. Bancorp by 0.7% in the second quarter. SeaCrest Wealth Management LLC now owns 28,512 shares of the financial services provider’s stock worth $1,494,000 after acquiring an additional 207 shares during the period. Institutional investors and hedge funds own 75.49% of the company’s stock.

USB opened at $55.44 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.86. The company has a market cap of $88.10 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 1.86 and a beta of 1.10. U.S. Bancorp has a 52-week low of $43.14 and a 52-week high of $57.81. The firm’s fifty day simple moving average is $53.35 and its two-hundred day simple moving average is $52.31.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.02. The business had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.73 billion. U.S. Bancorp had a net margin of 26.70% and a return on equity of 15.45%. The company’s revenue was down 1.1% compared to the same quarter last year. During the same period last year, the firm posted $1.02 earnings per share. On average, research analysts forecast that U.S. Bancorp will post 4.3 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 3.03%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Friday, September 27th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 36.10%.

U.S. Bancorp declared that its board has initiated a stock buyback plan on Thursday, June 27th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 3.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

USB has been the topic of a number of research reports. Bank of America upgraded shares of U.S. Bancorp from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $49.00 to $55.00 in a research note on Thursday, July 18th. Wedbush increased their price objective on shares of U.S. Bancorp from $46.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Piper Jaffray Companies set a $59.00 price objective on shares of U.S. Bancorp and gave the stock a “buy” rating in a research note on Friday, September 13th. Macquarie lowered shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $59.00 price target on the stock. in a research report on Thursday, August 1st. Finally, Deutsche Bank set a $59.00 price target on shares of U.S. Bancorp and gave the company a “hold” rating in a research report on Friday, July 26th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have given a buy rating to the company’s stock. U.S. Bancorp presently has an average rating of “Hold” and a consensus target price of $56.93.

In other U.S. Bancorp news, EVP Mark G. Runkel sold 10,986 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $57.32, for a total transaction of $629,717.52. Following the transaction, the executive vice president now directly owns 45,213 shares of the company’s stock, valued at $2,591,609.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Vice Chairman Gillern Jeffry H. Von sold 9,428 shares of the stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $55.25, for a total transaction of $520,897.00. Following the transaction, the insider now directly owns 94,658 shares in the company, valued at $5,229,854.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 50,547 shares of company stock worth $2,862,231. Insiders own 0.24% of the company’s stock.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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