Asset Management One Co. Ltd. cut its stake in U.S. Bancorp (NYSE:USB – Get Rating) by 0.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 590,881 shares of the financial services provider's stock after selling 2,561 shares during the period. Asset Management One Co. Ltd.'s holdings in U.S. Bancorp were worth $27,192,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. First Affirmative Financial Network grew its position in U.S. Bancorp by 2.3% during the fourth quarter. First Affirmative Financial Network now owns 7,567 shares of the financial services provider's stock worth $425,000 after buying an additional 172 shares during the period. Lcnb Corp grew its position in U.S. Bancorp by 0.4% during the fourth quarter. Lcnb Corp now owns 42,431 shares of the financial services provider's stock worth $2,383,000 after buying an additional 188 shares during the period. Westside Investment Management Inc. grew its position in U.S. Bancorp by 45.6% during the first quarter. Westside Investment Management Inc. now owns 648 shares of the financial services provider's stock worth $34,000 after buying an additional 203 shares during the period. Cordasco Financial Network grew its position in U.S. Bancorp by 5.5% during the first quarter. Cordasco Financial Network now owns 3,930 shares of the financial services provider's stock worth $209,000 after buying an additional 206 shares during the period. Finally, Indiana Trust & Investment Management CO grew its position in U.S. Bancorp by 3.1% during the first quarter. Indiana Trust & Investment Management CO now owns 7,036 shares of the financial services provider's stock worth $374,000 after buying an additional 211 shares during the period. 74.93% of the stock is owned by hedge funds and other institutional investors.
Get U.S. Bancorp alerts:U.S. Bancorp Trading Down 2.1 %
Shares of USB stock traded down $0.91 during mid-day trading on Friday, reaching $42.12. The company's stock had a trading volume of 8,185,517 shares, compared to its average volume of 7,211,726. The company's 50 day simple moving average is $46.82 and its 200-day simple moving average is $49.26. U.S. Bancorp has a 12-month low of $41.55 and a 12-month high of $63.57. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $62.58 billion, a PE ratio of 9.68, a price-to-earnings-growth ratio of 1.46 and a beta of 0.97.
U.S. Bancorp (NYSE:USB – Get Rating) last released its quarterly earnings results on Friday, July 15th. The financial services provider reported $1.09 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.02. The business had revenue of $6.01 billion during 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 business's revenue was up 4.0% on a year-over-year basis. During the same period last year, the business earned $1.28 EPS. On average, research analysts predict that U.S. Bancorp will post 4.45 EPS for the current fiscal year.U.S. Bancorp Increases Dividend
The firm also recently declared 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 an increase from U.S. Bancorp's previous quarterly dividend of $0.46. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date of this dividend is Thursday, September 29th. U.S. Bancorp's dividend payout ratio (DPR) is presently 42.30%.
Analyst Ratings Changes
Several research analysts have weighed in on USB shares. Wells Fargo & Company lowered their target price on shares of U.S. Bancorp from $70.00 to $60.00 and set an "overweight" rating on the stock in a research report on Friday, July 1st. Credit Suisse Group lowered 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. Royal Bank of Canada lowered their price target on shares of U.S. Bancorp from $66.00 to $60.00 and set an "outperform" rating on the stock in a research report on Friday, July 1st. Piper Sandler set a $50.00 price target on shares of U.S. Bancorp in a research report on Tuesday, July 19th. Finally, Jefferies Financial Group lowered their price target on shares of U.S. Bancorp from $52.00 to $45.00 in a research report on Monday, July 11th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, U.S. Bancorp currently has an average rating of "Hold" and an average target price of $58.56.
U.S. Bancorp Company 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.
Further Reading
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