SFE Investment Counsel Decreases Holdings in U.S. Bancorp (NYSE:USB)

SFE Investment Counsel trimmed its stake in shares of U.S. Bancorp (NYSE:USB) by 3.0% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 108,298 shares of the financial services provider’s stock after selling 3,330 shares during the quarter. U.S. Bancorp makes up 1.7% of SFE Investment Counsel’s investment portfolio, making the stock its 19th largest position. SFE Investment Counsel’s holdings in U.S. Bancorp were worth $6,170,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Mount Yale Investment Advisors LLC purchased a new position in U.S. Bancorp in the 1st quarter worth approximately $231,000. Capital City Trust Co. FL lifted its position in U.S. Bancorp by 7.2% during the first quarter. Capital City Trust Co. FL now owns 60,855 shares of the financial services provider’s stock worth $3,366,000 after buying an additional 4,071 shares in the last quarter. Avantax Planning Partners Inc. boosted its stake in U.S. Bancorp by 29.2% during the first quarter. Avantax Planning Partners Inc. now owns 41,703 shares of the financial services provider’s stock worth $2,307,000 after buying an additional 9,416 shares during the last quarter. Middleton & Co Inc MA grew its holdings in U.S. Bancorp by 14.5% in the 1st quarter. Middleton & Co Inc MA now owns 11,263 shares of the financial services provider’s stock valued at $668,000 after buying an additional 1,425 shares in the last quarter. Finally, Wesbanco Bank Inc. acquired a new stake in shares of U.S. Bancorp in the 1st quarter worth $20,455,000. 73.80% of the stock is currently owned by institutional investors and hedge funds.

NYSE:USB traded up $1.92 during mid-day trading on Wednesday, reaching $57.83. The stock had a trading volume of 233,348 shares, compared to its average volume of 6,539,679. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.74 and a current ratio of 0.76. The business has a 50 day simple moving average of $56.53 and a 200 day simple moving average of $57.08. U.S. Bancorp has a twelve month low of $34.17 and a twelve month high of $62.47. The firm has a market capitalization of $85.74 billion, a price-to-earnings ratio of 11.97, a PEG ratio of 1.71 and a beta of 1.14.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.14. U.S. Bancorp had a return on equity of 15.18% and a net margin of 29.83%. The firm had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.62 billion. During the same quarter in the prior year, the company posted $0.41 earnings per share. U.S. Bancorp’s quarterly revenue was up .2% on a year-over-year basis. As a group, sell-side analysts expect that U.S. Bancorp will post 5 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Thursday, September 30th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.18%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.42. U.S. Bancorp’s dividend payout ratio (DPR) is currently 54.90%.

Several research firms recently issued reports on USB. Oppenheimer raised their price objective on shares of U.S. Bancorp from $70.00 to $73.00 and gave the stock an “outperform” rating in a research report on Friday, July 16th. Barclays lifted their price target on shares of U.S. Bancorp from $65.00 to $68.00 and gave the company an “overweight” rating in a research report on Friday, July 16th. Compass Point boosted their price objective on U.S. Bancorp from $59.00 to $61.00 and gave the company a “neutral” rating in a report on Tuesday, May 18th. Odeon Capital Group cut U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, July 19th. Finally, Morgan Stanley increased their price objective on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Thursday, July 29th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $62.37.

About U.S. Bancorp

U.S. Bancorp operates as a bank holding company, which offers financial services including lending and depository services, cash management, foreign exchange and trust and investment management. The firm also offers mortgage, refinance, auto, boat and RV loans, credit lines, credit card services, merchant, bank, checking and savings accounts, debit cards, online and mobile banking, ATM processing, mortgage banking, insurance, brokerage and leasing services.

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

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