Honkamp Krueger Financial Services Inc. increased its position in shares of U.S. Bancorp (NYSE:USB) by 1.1% during the second quarter, Holdings Channel reports. The institutional investor owned 41,971 shares of the financial services provider’s stock after purchasing an additional 475 shares during the quarter. Honkamp Krueger Financial Services Inc.’s holdings in U.S. Bancorp were worth $2,229,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in USB. Geode Capital Management LLC raised its stake in U.S. Bancorp by 7.5% in 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. Investors Research Corp purchased a new stake in U.S. Bancorp during the first quarter worth $67,000. Mercer Global Advisors Inc. ADV purchased a new stake in U.S. Bancorp during the first quarter worth $4,180,000. Bristlecone Advisors LLC boosted its position in U.S. Bancorp by 3.0% during the first quarter. Bristlecone Advisors LLC now owns 56,907 shares of the financial services provider’s stock worth $2,742,000 after purchasing an additional 1,645 shares in the last quarter. Finally, Roman Butler Fullerton & Co. purchased a new stake in U.S. Bancorp during the first quarter worth $279,000. 75.50% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have commented on USB. Macquarie downgraded U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $59.00 target price on the stock. in a research report on Thursday, August 1st. JPMorgan Chase & Co. upgraded U.S. Bancorp from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $52.50 to $57.00 in a research report on Wednesday, July 31st. Deutsche Bank set a $59.00 target price on U.S. Bancorp and gave the stock a “hold” rating in a research report on Friday, July 26th. Morgan Stanley boosted their target price on U.S. Bancorp from $55.00 to $56.00 and gave the stock an “underweight” rating in a research report on Thursday, July 18th. Finally, Wedbush boosted their target price on U.S. Bancorp from $46.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $56.92.
In other news, Vice Chairman Shailesh M. Kotwal sold 20,000 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $57.33, for a total value of $1,146,600.00. Following the completion of the transaction, the insider now directly owns 65,959 shares of the company’s stock, valued at $3,781,429.47. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark G. Runkel sold 10,986 shares of the business’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $57.32, for a total value of $629,717.52. Following the completion of the transaction, the executive vice president now directly owns 45,213 shares of the company’s stock, valued at $2,591,609.16. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,414 shares of company stock valued at $2,297,215. Insiders own 0.24% of the company’s stock.
Shares of NYSE USB traded down $1.10 during trading on Friday, reaching $50.95. The company had a trading volume of 4,746,827 shares, compared to its average volume of 5,675,491. U.S. Bancorp has a twelve month low of $43.14 and a twelve month high of $57.81. The stock has a market capitalization of $82.02 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 1.72 and a beta of 1.06. The stock has a 50-day moving average price of $54.01 and a two-hundred day moving average price of $51.97. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.86.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.02. U.S. Bancorp had a return on equity of 15.45% and a net margin of 26.70%. The company had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same period in the previous year, the firm posted $1.02 earnings per share. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, sell-side analysts predict that U.S. Bancorp will post 4.31 EPS for the current year.
U.S. Bancorp declared that its board has approved a stock buyback plan on Thursday, June 27th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.
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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