Trust Co. of Vermont Invests $3.85 Million in U.S. Bancorp $USB

Trust Co. of Vermont purchased a new position in U.S. Bancorp (NYSE:USB) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 63,665 shares of the financial services provider’s stock, valued at approximately $3,845,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mufg Bank LTD. bought a new position in shares of U.S. Bancorp during the second quarter valued at $2,680,199,000. Plato Investment Management Ltd bought a new position in U.S. Bancorp in the 2nd quarter worth about $3,208,000. Bank of New York Mellon Corp purchased a new stake in U.S. Bancorp during the 2nd quarter valued at about $536,457,000. Bank & Trust Co increased its stake in U.S. Bancorp by 5.7% during the 2nd quarter. Bank & Trust Co now owns 10,912 shares of the financial services provider’s stock valued at $659,000 after purchasing an additional 584 shares in the last quarter. Finally, Wedge Capital Management L L P NC bought a new stake in U.S. Bancorp during the 2nd quarter valued at about $202,000. Institutional investors own 77.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on USB. Keefe, Bruyette & Woods lifted their target price on shares of U.S. Bancorp from $63.00 to $66.00 and gave the stock a “market perform” rating in a report on Friday, July 17th. CLSA set a $67.50 price target on shares of U.S. Bancorp in a research report on Monday, July 20th. BTIG Research set a $67.50 price objective on shares of U.S. Bancorp in a report on Monday, July 20th. Evercore upgraded U.S. Bancorp from an “in-line” rating to an “outperform” rating and set a $72.00 target price on the stock in a research note on Monday, July 20th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of U.S. Bancorp in a report on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and an average target price of $67.06.

Insider Buying and Selling

In other U.S. Bancorp news, insider Stephen L. Philipson sold 36,906 shares of the stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $63.08, for a total value of $2,328,030.48. Following the transaction, the insider owned 74,969 shares of the company’s stock, valued at approximately $4,729,044.52. This represents a 32.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.21% of the company’s stock.

U.S. Bancorp Trading Down 0.9%

Shares of USB stock opened at $64.81 on Tuesday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. U.S. Bancorp has a 12-month low of $45.02 and a 12-month high of $66.07. The stock has a market capitalization of $100.98 billion, a P/E ratio of 12.94, a P/E/G ratio of 1.07 and a beta of 0.96. The firm’s 50 day moving average is $61.95 and its 200 day moving average is $57.45.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Thursday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.07. The business had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.58 billion. U.S. Bancorp had a net margin of 18.49% and a return on equity of 13.69%. During the same period in the previous year, the business earned $1.11 EPS. Research analysts expect that U.S. Bancorp will post 5.22 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.2%. U.S. Bancorp’s payout ratio is presently 41.52%.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.