Obermeyer Wood Investment Counsel Lllp decreased its position in U.S. Bancorp (NYSE:USB) by 71.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,694 shares of the financial services provider’s stock after selling 13,944 shares during the period. Obermeyer Wood Investment Counsel Lllp’s holdings in U.S. Bancorp were worth $296,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. lifted its holdings in U.S. Bancorp by 17.0% in the first quarter. SRS Capital Advisors Inc. now owns 2,547 shares of the financial services provider’s stock valued at $131,000 after buying an additional 371 shares during the period. Orrstown Financial Services Inc. lifted its holdings in U.S. Bancorp by 30.4% in the second quarter. Orrstown Financial Services Inc. now owns 2,921 shares of the financial services provider’s stock valued at $152,000 after buying an additional 681 shares during the period. Signature Estate & Investment Advisors LLC acquired a new position in U.S. Bancorp in the first quarter valued at $155,000. Tradewinds Capital Management LLC lifted its holdings in U.S. Bancorp by 87.4% in the first quarter. Tradewinds Capital Management LLC now owns 3,663 shares of the financial services provider’s stock valued at $189,000 after buying an additional 1,708 shares during the period. Finally, Carroll Financial Associates Inc. lifted its holdings in U.S. Bancorp by 16.6% in the second quarter. Carroll Financial Associates Inc. now owns 3,905 shares of the financial services provider’s stock valued at $202,000 after buying an additional 555 shares during the period. Institutional investors and hedge funds own 73.97% of the company’s stock.
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Several equities analysts recently issued reports on the stock. Wells Fargo & Company assumed coverage on shares of U.S. Bancorp in a report on Wednesday, August 9th. They issued a “market perform” rating and a $56.00 target price on the stock. Jefferies Group LLC restated a “buy” rating and issued a $62.00 target price on shares of U.S. Bancorp in a report on Thursday. BidaskClub lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Bank of America Corporation lowered shares of U.S. Bancorp from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $56.00 to $54.00 in a report on Monday, October 2nd. Finally, Instinet lowered shares of U.S. Bancorp from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $57.00 to $55.00 in a report on Thursday, September 28th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company. U.S. Bancorp has a consensus rating of “Hold” and an average price target of $53.56.
Shares of U.S. Bancorp (NYSE USB) opened at 53.99 on Friday. The company has a 50 day moving average of $52.59 and a 200-day moving average of $52.04. The firm has a market cap of $90.31 billion, a price-to-earnings ratio of 16.31 and a beta of 0.87. U.S. Bancorp has a 12-month low of $42.52 and a 12-month high of $56.61.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The company had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. During the same period last year, the company posted $0.82 EPS. U.S. Bancorp’s revenue was up .7% on a year-over-year basis. Analysts predict that U.S. Bancorp will post $3.42 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given a dividend of $0.30 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date of this dividend is Thursday, September 28th. U.S. Bancorp’s dividend payout ratio (DPR) is 36.04%.
U.S. Bancorp declared that its Board of Directors has initiated a stock repurchase program on Wednesday, June 28th that permits the company to repurchase $2.60 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.
About U.S. Bancorp
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.
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