Monarch Capital Management Inc. trimmed its stake in shares of U.S. Bancorp (NYSE:USB) by 0.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 99,723 shares of the financial services provider’s stock after selling 200 shares during the quarter. U.S. Bancorp comprises 2.0% of Monarch Capital Management Inc.’s investment portfolio, making the stock its 22nd biggest holding. Monarch Capital Management Inc.’s holdings in U.S. Bancorp were worth $5,178,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently bought and sold shares of USB. Retirement Systems of Alabama lifted its position in U.S. Bancorp by 1.6% during the 1st quarter. Retirement Systems of Alabama now owns 769,752 shares of the financial services provider’s stock worth $39,642,000 after acquiring an additional 12,485 shares during the period. Diversified Trust Co lifted its position in U.S. Bancorp by 1.7% during the 1st quarter. Diversified Trust Co now owns 5,455 shares of the financial services provider’s stock worth $281,000 after acquiring an additional 91 shares during the period. V Wealth Management LLC acquired a new stake in U.S. Bancorp during the 1st quarter worth approximately $209,000. Candriam Luxembourg S.C.A. lifted its position in U.S. Bancorp by 49.9% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 196,546 shares of the financial services provider’s stock worth $10,123,000 after acquiring an additional 65,423 shares during the period. Finally, Nationwide Fund Advisors lifted its position in U.S. Bancorp by 13.5% during the 1st quarter. Nationwide Fund Advisors now owns 935,974 shares of the financial services provider’s stock worth $48,203,000 after acquiring an additional 111,333 shares during the period. 73.97% of the stock is owned by institutional investors.
U.S. Bancorp (NYSE:USB) traded down 0.13% during trading on Friday, reaching $53.67. The company had a trading volume of 6,240,972 shares. The company has a 50-day moving average of $52.00 and a 200-day moving average of $52.08. The firm has a market capitalization of $89.78 billion, a P/E ratio of 16.21 and a beta of 0.87. U.S. Bancorp has a 52-week low of $42.17 and a 52-week high of $56.61.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.01. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.46 billion. During the same quarter in the prior year, the company earned $0.82 earnings per share. The firm’s revenue was up .7% on a year-over-year basis. Analysts expect that U.S. Bancorp will post $3.43 EPS for the current fiscal year.
U.S. Bancorp announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, June 28th that permits the company to buyback $2.60 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 29th will be paid a dividend of $0.30 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Thursday, September 28th. U.S. Bancorp’s payout ratio is 33.63%.
USB has been the subject of a number of recent research reports. BidaskClub cut U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. Jefferies Group LLC reaffirmed a “buy” rating and set a $59.00 price objective on shares of U.S. Bancorp in a research report on Friday, June 9th. Argus raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Thursday, July 20th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th. Finally, Robert W. Baird reissued a “hold” rating and set a $48.00 target price on shares of U.S. Bancorp in a research note on Tuesday, September 5th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $52.50.
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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.
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