AGF Investments Inc. Raises Stake in U.S. Bancorp (USB)

AGF Investments Inc. boosted its stake in U.S. Bancorp (NYSE:USB) by 2.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 433,227 shares of the financial services provider’s stock after buying an additional 9,216 shares during the period. AGF Investments Inc.’s holdings in U.S. Bancorp were worth $22,285,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Orrstown Financial Services Inc. boosted its position in U.S. Bancorp by 26.9% in the first quarter. Orrstown Financial Services Inc. now owns 2,240 shares of the financial services provider’s stock valued at $116,000 after buying an additional 475 shares during the last quarter. Signature Estate & Investment Advisors LLC bought a new position in U.S. Bancorp during the first quarter valued at approximately $155,000. WealthTrust Arizona LLC boosted its position in U.S. Bancorp by 31.8% in the first quarter. WealthTrust Arizona LLC now owns 3,033 shares of the financial services provider’s stock valued at $156,000 after buying an additional 732 shares during the last quarter. American National Bank bought a new position in U.S. Bancorp during the first quarter valued at approximately $167,000. Finally, Tortoise Investment Management LLC boosted its position in U.S. Bancorp by 60.8% in the fourth quarter. Tortoise Investment Management LLC now owns 3,305 shares of the financial services provider’s stock valued at $170,000 after buying an additional 1,250 shares during the last quarter. 76.25% of the stock is owned by institutional investors and hedge funds.

Shares of U.S. Bancorp (NYSE:USB) traded down 0.25% during midday trading on Wednesday, reaching $52.85. 3,173,389 shares of the company’s stock were exchanged. U.S. Bancorp has a 12 month low of $42.17 and a 12 month high of $56.61. The stock has a market cap of $88.41 billion, a PE ratio of 15.97 and a beta of 0.86. The company’s 50 day moving average is $52.44 and its 200-day moving average is $52.55.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.01. The business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.46 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. U.S. Bancorp’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.82 earnings per share. Equities analysts forecast that U.S. Bancorp will post $3.44 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend was Wednesday, June 28th. U.S. Bancorp’s dividend payout ratio (DPR) is presently 33.63%.

U.S. Bancorp declared that its board has approved a share buyback plan on Wednesday, June 28th that authorizes the company to repurchase $2.60 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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A number of brokerages have recently issued reports on USB. Wells Fargo & Company began coverage on shares of U.S. Bancorp in a research note on Wednesday, August 9th. They issued a “market perform” rating and a $56.00 price objective for the company. Jefferies Group LLC restated a “buy” rating and issued a $59.00 price objective on shares of U.S. Bancorp in a research note on Friday, June 9th. BidaskClub cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Argus upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Thursday, July 20th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $52.85.

U.S. Bancorp Company Profile

U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.

Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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