Investment Centers of America Inc. Cuts Stake in U.S. Bancorp (USB)

Investment Centers of America Inc. lessened its holdings in U.S. Bancorp (NYSE:USB) by 7.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 40,628 shares of the financial services provider’s stock after selling 3,205 shares during the period. Investment Centers of America Inc.’s holdings in U.S. Bancorp were worth $2,177,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of USB. Hudock Capital Group LLC increased its holdings in U.S. Bancorp by 0.4% in the 2nd quarter. Hudock Capital Group LLC now owns 3,804 shares of the financial services provider’s stock worth $197,000 after acquiring an additional 17 shares in the last quarter. BSW Wealth Partners grew its holdings in U.S. Bancorp by 0.6% during the 2nd quarter. BSW Wealth Partners now owns 3,995 shares of the financial services provider’s stock valued at $207,000 after buying an additional 22 shares in the last quarter. D. Scott Neal Inc. grew its holdings in U.S. Bancorp by 0.5% during the 2nd quarter. D. Scott Neal Inc. now owns 7,524 shares of the financial services provider’s stock valued at $391,000 after buying an additional 36 shares in the last quarter. Budros Ruhlin & Roe Inc. grew its holdings in U.S. Bancorp by 0.5% during the 2nd quarter. Budros Ruhlin & Roe Inc. now owns 7,492 shares of the financial services provider’s stock valued at $389,000 after buying an additional 39 shares in the last quarter. Finally, Green Square Capital LLC grew its holdings in U.S. Bancorp by 0.4% during the 2nd quarter. Green Square Capital LLC now owns 11,363 shares of the financial services provider’s stock valued at $593,000 after buying an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 74.08% of the company’s stock.

A number of equities research analysts have issued reports on the stock. Vining Sparks reaffirmed a “hold” rating and set a $61.00 price objective on shares of U.S. Bancorp in a report on Thursday, January 25th. Deutsche Bank raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and increased their price objective for the company from $60.00 to $63.00 in a report on Thursday, January 25th. Morgan Stanley increased their price objective on shares of U.S. Bancorp from $60.00 to $61.00 and gave the company an “underweight” rating in a report on Friday. Zacks Investment Research raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a report on Friday. Finally, JPMorgan Chase & Co. downgraded U.S. Bancorp from a “neutral” rating to an “underweight” rating and set a $58.50 target price for the company. in a research report on Wednesday. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $58.13.

Shares of U.S. Bancorp (USB) traded down $0.56 on Friday, reaching $56.90. The company had a trading volume of 6,978,996 shares, compared to its average volume of 6,602,054. The company has a market capitalization of $95,153.76, a P/E ratio of 16.16, a PEG ratio of 1.91 and a beta of 0.87. U.S. Bancorp has a 12 month low of $49.53 and a 12 month high of $58.50. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.81 and a current ratio of 0.82.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.01. U.S. Bancorp had a return on equity of 13.89% and a net margin of 25.91%. The company had revenue of $5.64 billion during the quarter, compared to the consensus estimate of $5.59 billion. During the same period last year, the company earned $0.82 earnings per share. U.S. Bancorp’s revenue was up 3.7% on a year-over-year basis. sell-side analysts anticipate that U.S. Bancorp will post 4.02 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $1.20 annualized dividend and a dividend yield of 2.11%. U.S. Bancorp’s dividend payout ratio (DPR) is 34.09%.

TRADEMARK VIOLATION NOTICE: “Investment Centers of America Inc. Cuts Stake in U.S. Bancorp (USB)” was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this story on another website, it was illegally copied and republished in violation of US and international trademark & copyright legislation. The correct version of this story can be read at https://www.dispatchtribunal.com/2018/02/03/investment-centers-of-america-inc-has-2-18-million-holdings-in-u-s-bancorp-usb.html.

U.S. Bancorp Company Profile

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.

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

Receive News & Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply