Monetary Management Group Inc. cut its holdings in shares of U.S. Bancorp (NYSE:USB) by 2.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,080 shares of the financial services provider’s stock after selling 300 shares during the period. Monetary Management Group Inc.’s holdings in U.S. Bancorp were worth $802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently bought and sold shares of the company. Eagle Bay Advisors LLC purchased a new position in U.S. Bancorp during the second quarter worth about $27,000. Wolverine Asset Management LLC purchased a new position in U.S. Bancorp in the first quarter valued at $34,000. Prestige Wealth Management Group LLC grew its holdings in U.S. Bancorp by 42.7% during the 1st quarter. Prestige Wealth Management Group LLC now owns 668 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 200 shares in the last quarter. tru Independence LLC purchased a new position in shares of U.S. Bancorp in the 2nd quarter valued at $42,000. Finally, Mark Sheptoff Financial Planning LLC lifted its holdings in shares of U.S. Bancorp by 166.7% during the first quarter. Mark Sheptoff Financial Planning LLC now owns 800 shares of the financial services provider’s stock worth $44,000 after purchasing an additional 500 shares during the period. 73.80% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on USB shares. Oppenheimer lifted their target price on U.S. Bancorp from $70.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, July 16th. Odeon Capital Group lowered U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Monday, July 19th. Morgan Stanley upped their price target on U.S. Bancorp from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Thursday, July 29th. Jefferies Financial Group initiated coverage on U.S. Bancorp in a research report on Thursday. They set a “buy” rating and a $66.00 price target on the stock. Finally, Credit Suisse Group raised their price target on shares of U.S. Bancorp from $60.00 to $61.00 and gave the company a “neutral” rating in a report on Wednesday, September 22nd. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $62.77.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 14th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.14. U.S. Bancorp had a return on equity of 15.18% and a net margin of 29.83%. The company had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.62 billion. During the same period in the previous year, the company posted $0.41 EPS. The firm’s revenue was up .2% on a year-over-year basis. On average, equities analysts expect that U.S. Bancorp will post 5 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Thursday, September 30th will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 3.01%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Wednesday, September 29th. U.S. Bancorp’s dividend payout ratio is currently 54.90%.
U.S. Bancorp Company Profile
U.S. Bancorp operates as a bank holding company, which offers financial services including lending and depository services, cash management, foreign exchange and trust and investment management. The firm also offers mortgage, refinance, auto, boat and RV loans, credit lines, credit card services, merchant, bank, checking and savings accounts, debit cards, online and mobile banking, ATM processing, mortgage banking, insurance, brokerage and leasing services.
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