Watch Point Trust Co Acquires 7,800 Shares of U.S. Bancorp (NYSE:USB)

Watch Point Trust Co increased its holdings in shares of U.S. Bancorp (NYSE:USB) by 11.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,793 shares of the financial services provider’s stock after acquiring an additional 7,800 shares during the period. U.S. Bancorp comprises approximately 2.2% of Watch Point Trust Co’s holdings, making the stock its 16th largest holding. Watch Point Trust Co’s holdings in U.S. Bancorp were worth $3,971,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Stephens Inc. AR grew its position in U.S. Bancorp by 1.9% during the 2nd quarter. Stephens Inc. AR now owns 194,717 shares of the financial services provider’s stock worth $10,203,000 after acquiring an additional 3,573 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in U.S. Bancorp by 162.4% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 731,851 shares of the financial services provider’s stock worth $38,336,000 after acquiring an additional 452,904 shares during the last quarter. Close Asset Management Ltd grew its position in U.S. Bancorp by 67.3% during the 2nd quarter. Close Asset Management Ltd now owns 4,516 shares of the financial services provider’s stock worth $236,000 after acquiring an additional 1,816 shares during the last quarter. Advisory Services Network LLC grew its position in U.S. Bancorp by 1.6% during the 2nd quarter. Advisory Services Network LLC now owns 39,683 shares of the financial services provider’s stock worth $2,079,000 after acquiring an additional 614 shares during the last quarter. Finally, Coastal Investment Advisors Inc. grew its position in U.S. Bancorp by 171.4% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 3,186 shares of the financial services provider’s stock worth $164,000 after acquiring an additional 2,012 shares during the last quarter. Institutional investors and hedge funds own 75.55% of the company’s stock.

Shares of USB stock traded up $0.44 during trading hours on Thursday, reaching $51.34. The company had a trading volume of 218,200 shares, compared to its average volume of 6,377,645. The firm’s 50 day simple moving average is $54.11. 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 firm has a market capitalization of $82.31 billion, a price-to-earnings ratio of 12.50, a price-to-earnings-growth ratio of 1.73 and a beta of 1.06. U.S. Bancorp has a 1-year low of $43.14 and a 1-year high of $57.81.

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, beating the Zacks’ consensus estimate of $1.07 by $0.02. The company had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.73 billion. U.S. Bancorp had a return on equity of 15.45% and a net margin of 26.70%. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.02 EPS. On average, equities analysts predict that U.S. Bancorp will post 4.31 earnings per share for the current fiscal year.

U.S. Bancorp declared that its board has authorized a share buyback plan on Thursday, June 27th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 3.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

A number of brokerages have commented on USB. Morgan Stanley increased their price objective on U.S. Bancorp from $55.00 to $56.00 and gave the company an “underweight” rating in a research report on Thursday, July 18th. Wedbush increased their price objective on U.S. Bancorp from $46.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. Deutsche Bank set a $59.00 price objective on U.S. Bancorp and gave the company a “hold” rating in a research report on Friday, July 26th. JPMorgan Chase & Co. upgraded U.S. Bancorp from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $52.50 to $57.00 in a research report on Wednesday, July 31st. Finally, Macquarie lowered U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $59.00 price objective on the stock. in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $56.92.

In other news, Vice Chairman Shailesh M. Kotwal sold 20,000 shares of the 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 transaction, the insider now owns 65,959 shares of the company’s stock, valued at approximately $3,781,429.47. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mark G. Runkel sold 10,986 shares of the stock in a transaction on Friday, July 26th. The shares were 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 in the company, valued at approximately $2,591,609.16. The disclosure for this sale can be found here. In the last three months, insiders sold 40,414 shares of company stock worth $2,297,215. 0.24% of the stock is currently owned by company insiders.

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

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