Birch Hill Investment Advisors LLC lessened its stake in shares of U.S. Bancorp (NYSE:USB – Free Report) by 24.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,628 shares of the financial services provider’s stock after selling 24,689 shares during the quarter. Birch Hill Investment Advisors LLC’s holdings in U.S. Bancorp were worth $2,499,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in USB. Aspire Private Capital LLC bought a new position in U.S. Bancorp in the first quarter worth about $22,279,837,000. SRS Capital Advisors Inc. lifted its position in U.S. Bancorp by 46.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 673 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 215 shares during the last quarter. Core Alternative Capital boosted its stake in U.S. Bancorp by 85.7% in the first quarter. Core Alternative Capital now owns 741 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 342 shares in the last quarter. AXS Investments LLC acquired a new stake in U.S. Bancorp in the fourth quarter valued at approximately $33,000. Finally, Iron Horse Wealth Management LLC acquired a new position in shares of U.S. Bancorp during the first quarter worth $29,000. 75.40% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms have recently weighed in on USB. Oppenheimer lowered their price objective on U.S. Bancorp from $67.00 to $62.00 and set an “outperform” rating for the company in a research report on Tuesday, September 26th. HSBC initiated coverage on U.S. Bancorp in a research note on Thursday, September 7th. They set a “hold” rating and a $30.00 price target on the stock. Raymond James raised shares of U.S. Bancorp from an “underperform” rating to a “market perform” rating in a research report on Thursday, July 20th. Citigroup dropped their target price on shares of U.S. Bancorp from $40.00 to $37.00 and set a “neutral” rating on the stock in a research report on Friday, September 22nd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $45.00 price target on shares of U.S. Bancorp in a report on Friday, August 4th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, U.S. Bancorp has an average rating of “Hold” and an average target price of $46.67.
Get Our Latest Report on U.S. Bancorp
Insider Activity at U.S. Bancorp
In other news, insider Timothy A. Welsh sold 13,816 shares of U.S. Bancorp stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $39.79, for a total value of $549,738.64. Following the sale, the insider now owns 119,058 shares in the company, valued at $4,737,317.82. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Timothy A. Welsh sold 13,816 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $39.79, for a total value of $549,738.64. Following the sale, the insider now directly owns 119,058 shares of the company’s stock, valued at $4,737,317.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Terrance R. Dolan sold 26,000 shares of the stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $39.75, for a total value of $1,033,500.00. Following the completion of the transaction, the chief financial officer now directly owns 166,992 shares of the company’s stock, valued at $6,637,932. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.
U.S. Bancorp Stock Performance
USB traded up $0.59 on Friday, reaching $33.06. The stock had a trading volume of 10,981,338 shares, compared to its average volume of 12,411,700. The business’s 50-day moving average price is $36.71 and its two-hundred day moving average price is $34.47. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.97. U.S. Bancorp has a 12-month low of $27.27 and a 12-month high of $49.95. The company has a market cap of $50.68 billion, a P/E ratio of 9.16, a price-to-earnings-growth ratio of 1.49 and a beta of 0.98.
U.S. Bancorp (NYSE:USB – Get Free Report) last released its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.01). U.S. Bancorp had a return on equity of 16.53% and a net margin of 16.59%. The business had revenue of $7.17 billion during the quarter, compared to analyst estimates of $7.17 billion. During the same period in the previous year, the company posted $1.09 EPS. The business’s revenue for the quarter was up 19.7% compared to the same quarter last year. Sell-side analysts forecast that U.S. Bancorp will post 4.43 earnings per share for the current year.
U.S. Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 5.81%. U.S. Bancorp’s dividend payout ratio (DPR) is 53.19%.
U.S. Bancorp Company Profile
U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities and other financial institutions in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.
See Also
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