Norway Savings Bank trimmed its stake in U.S. Bancorp (NYSE:USB – Get Rating) by 11.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,562 shares of the financial services provider's stock after selling 330 shares during the period. Norway Savings Bank's holdings in U.S. Bancorp were worth $118,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of USB. Delos Wealth Advisors LLC bought a new stake in shares of U.S. Bancorp in the 4th quarter valued at approximately $29,000. Advocacy Wealth Management Services LLC lifted its stake in shares of U.S. Bancorp by 72.3% in the 1st quarter. Advocacy Wealth Management Services LLC now owns 572 shares of the financial services provider's stock valued at $30,000 after purchasing an additional 240 shares during the last quarter. Westside Investment Management Inc. lifted its stake in shares of U.S. Bancorp by 45.6% in the 1st quarter. Westside Investment Management Inc. now owns 648 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 203 shares during the last quarter. Exane Derivatives purchased a new stake in shares of U.S. Bancorp in the first quarter worth approximately $41,000. Finally, Cyrus J. Lawrence LLC purchased a new stake in shares of U.S. Bancorp in the first quarter worth approximately $44,000. 74.93% of the stock is owned by institutional investors.
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U.S. Bancorp Stock Down 2.1 %
Shares of NYSE USB opened at $42.12 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $62.58 billion, a PE ratio of 9.68, a price-to-earnings-growth ratio of 1.49 and a beta of 0.97. The stock's fifty day simple moving average is $46.82 and its two-hundred day simple moving average is $49.29. U.S. Bancorp has a 12-month low of $41.55 and a 12-month high of $63.57.
U.S. Bancorp (NYSE:USB – Get Rating) last posted its quarterly earnings data on Friday, July 15th. The financial services provider reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. The firm had revenue of $6.01 billion during the quarter, compared to analysts' expectations of $5.89 billion. U.S. Bancorp had a return on equity of 15.05% and a net
margin of 28.08%. The business's quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.28 EPS. As a group, analysts expect that U.S. Bancorp will post 4.45 EPS for the current fiscal year.
U.S. Bancorp Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be given a $0.48 dividend. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.56%. U.S. Bancorp's dividend payout ratio (DPR) is presently 42.30%.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on USB. Deutsche Bank Aktiengesellschaft reduced their price target on U.S. Bancorp from $64.00 to $60.00 and set a "buy" rating on the stock in a report on Monday, September 12th. Wells Fargo & Company reduced their price target on U.S. Bancorp from $70.00 to $60.00 and set an "overweight" rating on the stock in a report on Friday, July 1st. Oppenheimer set a $68.00 price target on U.S. Bancorp in a report on Tuesday, July 19th. Morgan Stanley increased their price target on U.S. Bancorp from $54.00 to $57.00 and gave the stock an "equal weight" rating in a report on Monday, July 18th. Finally, Piper Sandler set a $50.00 price objective on U.S. Bancorp in a report on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, U.S. Bancorp has an average rating of "Hold" and an average price target of $58.56.
U.S. Bancorp Profile
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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.
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