Dubuque Bank & Trust Co. reduced its holdings in shares of U.S. Bancorp (NYSE:USB) by 2.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 120,201 shares of the financial services provider’s stock after selling 3,093 shares during the quarter. Dubuque Bank & Trust Co.’s holdings in U.S. Bancorp were worth $6,299,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in U.S. Bancorp by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 18,322,754 shares of the financial services provider’s stock valued at $835,766,000 after purchasing an additional 1,285,265 shares during the last quarter. MML Investors Services LLC lifted its holdings in U.S. Bancorp by 6.0% during the fourth quarter. MML Investors Services LLC now owns 34,759 shares of the financial services provider’s stock valued at $1,588,000 after purchasing an additional 1,982 shares in the last quarter. Gotham Asset Management LLC lifted its holdings in U.S. Bancorp by 1,011.1% during the fourth quarter. Gotham Asset Management LLC now owns 58,710 shares of the financial services provider’s stock valued at $2,683,000 after purchasing an additional 53,426 shares in the last quarter. IHT Wealth Management LLC lifted its holdings in U.S. Bancorp by 16.5% during the fourth quarter. IHT Wealth Management LLC now owns 7,200 shares of the financial services provider’s stock valued at $329,000 after purchasing an additional 1,019 shares in the last quarter. Finally, AE Wealth Management LLC lifted its holdings in U.S. Bancorp by 80.3% during the fourth quarter. AE Wealth Management LLC now owns 11,430 shares of the financial services provider’s stock valued at $522,000 after purchasing an additional 5,091 shares in the last quarter. Institutional investors own 74.67% of the company’s stock.
Shares of NYSE:USB traded up $0.70 during midday trading on Tuesday, hitting $56.03. The company’s stock had a trading volume of 6,752,590 shares, compared to its average volume of 5,993,180. The business’s 50 day moving average is $53.09. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.83 and a current ratio of 0.84. The stock has a market cap of $88.58 billion, a P/E ratio of 13.67, a P/E/G ratio of 1.83 and a beta of 1.06. U.S. Bancorp has a 12-month low of $43.14 and a 12-month high of $56.11.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.07 by $0.02. The firm 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 for the quarter was down 1.1% on a year-over-year basis. During the same period last year, the firm posted $1.02 earnings per share. Sell-side analysts forecast that U.S. Bancorp will post 4.29 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend was Thursday, June 27th. U.S. Bancorp’s dividend payout ratio is currently 36.10%.
U.S. Bancorp declared that its board has authorized a stock buyback program on Thursday, June 27th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 3.6% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
Several research firms have issued reports on USB. JPMorgan Chase & Co. began coverage on shares of Pinduoduo in a report on Tuesday, July 9th. They set an “underweight” rating and a $20.48 price objective on the stock. Morgan Stanley increased their price objective on shares of Yum! Brands from $97.00 to $106.00 and gave the company an “equal weight” rating in a report on Thursday, July 18th. Zacks Investment Research raised shares of GreenTree Hospitality Group from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Wedbush began coverage on shares of Millendo Therapeutics in a report on Thursday, July 18th. They set an “outperform” rating and a $24.00 price objective on the stock. Finally, Oppenheimer set a $15.00 price objective on shares of Strongbridge Biopharma and gave the company a “buy” rating in a report on Tuesday, March 26th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $56.63.
In other news, Vice Chairman Gillern Jeffry H. Von sold 4,669 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $53.14, for a total value of $248,110.66. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Vice Chairman Gillern Jeffry H. Von sold 9,428 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $55.25, for a total transaction of $520,897.00. Following the completion of 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. Company insiders own 0.24% of the company’s stock.
U.S. Bancorp Company 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.
Featured Story: What is the Rule of 72?
Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades 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.