BerganKDV Wealth Management LLC raised its position in shares of U.S. Bancorp (NYSE:USB – Get Rating) by 1.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,493 shares of the financial services provider's stock after purchasing an additional 768 shares during the period. BerganKDV Wealth Management LLC's holdings in U.S. Bancorp were worth $3,520,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Foundations Investment Advisors LLC grew its stake in shares of U.S. Bancorp by 5.0% in the second quarter. Foundations Investment Advisors LLC now owns 8,132 shares of the financial services provider's stock worth $378,000 after purchasing an additional 388 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of U.S. Bancorp by 54.4% in the first quarter. Versant Capital Management Inc now owns 1,135 shares of the financial services provider's stock worth $60,000 after purchasing an additional 400 shares during the last quarter. Arkadios Wealth Advisors grew its stake in shares of U.S. Bancorp by 107.1% in the first quarter. Arkadios Wealth Advisors now owns 20,610 shares of the financial services provider's stock worth $1,095,000 after purchasing an additional 10,658 shares during the last quarter. Beacon Financial Group grew its stake in shares of U.S. Bancorp by 3.8% in the first quarter. Beacon Financial Group now owns 11,209 shares of the financial services provider's stock worth $614,000 after purchasing an additional 407 shares during the last quarter. Finally, DNB Asset Management AS grew its stake in shares of U.S. Bancorp by 11.6% in the first quarter. DNB Asset Management AS now owns 329,048 shares of the financial services provider's stock worth $17,489,000 after purchasing an additional 34,169 shares during the last quarter. 74.93% of the stock is currently owned by institutional investors and hedge funds.
Get U.S. Bancorp alerts:U.S. Bancorp Stock Down 2.4 %
Shares of USB traded down $1.06 on Wednesday, reaching $43.93. The company's stock had a trading volume of 375,520 shares, compared to its average volume of 6,782,899. The company has a current ratio of 0.75, a quick ratio of 0.74 and a debt-to-equity ratio of 0.70. U.S. Bancorp has a twelve month low of $43.74 and a twelve month high of $63.57. The stock has a market capitalization of $65.27 billion, a PE ratio of 10.34, a PEG ratio of 1.60 and a beta of 0.97. The firm has a fifty day moving average of $46.96 and a 200-day moving average of $49.45.
U.S. Bancorp (NYSE:USB – Get Rating) last posted its earnings results 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 company had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.89 billion. U.S. Bancorp had a net margin of 28.08% and a return on equity of 15.05%. The firm's revenue was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.28 EPS. Equities analysts predict that U.S. Bancorp will post 4.45 EPS for the current year.U.S. Bancorp Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be paid a $0.48 dividend. This is a positive change 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 annualized dividend and a yield of 4.37%. U.S. Bancorp's dividend payout ratio (DPR) is 42.30%.
Analyst Ratings Changes
USB has been the topic of a number of research analyst reports. Morgan Stanley upped their price target on shares of U.S. Bancorp from $54.00 to $57.00 and gave the company an "equal weight" rating in a research report on Monday, July 18th. Wolfe Research cut their price target on shares of U.S. Bancorp from $62.00 to $54.00 and set an "outperform" rating on the stock in a research report on Thursday, May 26th. Credit Suisse Group cut their price target on shares of U.S. Bancorp from $57.00 to $54.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 19th. Deutsche Bank Aktiengesellschaft cut their price target on shares of U.S. Bancorp from $64.00 to $60.00 and set a "buy" rating on the stock in a research report on Monday, September 12th. Finally, Jefferies Financial Group cut their price target on shares of U.S. Bancorp from $52.00 to $45.00 in a research report on Monday, July 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price 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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