Smith Moore & CO. trimmed its position in U.S. Bancorp (NYSE:USB) by 1.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 19,009 shares of the financial services provider’s stock after selling 302 shares during the quarter. Smith Moore & CO.’s holdings in U.S. Bancorp were worth $1,099,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Eagle Bay Advisors LLC acquired a new stake in U.S. Bancorp in the second quarter valued at approximately $27,000. Wolverine Asset Management LLC acquired a new stake in U.S. Bancorp in the first quarter valued at approximately $34,000. Prestige Wealth Management Group LLC boosted its stake in U.S. Bancorp by 42.7% in the first quarter. Prestige Wealth Management Group LLC now owns 668 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 200 shares in the last quarter. Allred Capital Management LLC acquired a new stake in U.S. Bancorp in the first quarter valued at approximately $38,000. Finally, tru Independence LLC purchased a new position in shares of U.S. Bancorp in the second quarter worth $42,000. Institutional investors own 73.80% of the company’s stock.
A number of research firms have issued reports on USB. Compass Point raised their price target on shares of U.S. Bancorp from $59.00 to $61.00 and gave the stock a “neutral” rating in a report on Tuesday, May 18th. Credit Suisse Group raised their target price on shares of U.S. Bancorp from $58.00 to $60.00 and gave the stock a “neutral” rating in a report on Wednesday, August 25th. Oppenheimer raised their target price on shares of U.S. Bancorp from $70.00 to $73.00 and gave the stock an “outperform” rating in a report on Friday, July 16th. Morgan Stanley raised their target price on shares of U.S. Bancorp from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Thursday, July 29th. Finally, Barclays raised 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. Six analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $62.37.
U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.14. The business had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.62 billion. U.S. Bancorp had a return on equity of 15.18% and a net margin of 29.83%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 earnings per share. On average, research analysts predict that U.S. Bancorp will post 5 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Thursday, September 30th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 3.29%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.42. U.S. Bancorp’s dividend payout ratio (DPR) is 54.90%.
U.S. Bancorp Company Profile
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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