First Heartland Consultants Inc. reduced its position in shares of U.S. Bancorp (NYSE:USB) by 19.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,122 shares of the financial services provider’s stock after selling 1,474 shares during the quarter. First Heartland Consultants Inc.’s holdings in U.S. Bancorp were worth $318,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Hudock Capital Group LLC increased its stake in U.S. Bancorp by 0.4% during the 1st quarter. Hudock Capital Group LLC now owns 3,787 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 16 shares in the last quarter. BSW Wealth Partners increased its stake in U.S. Bancorp by 0.6% during the 1st quarter. BSW Wealth Partners now owns 3,973 shares of the financial services provider’s stock valued at $205,000 after purchasing an additional 23 shares in the last quarter. First National Bank of Hutchinson increased its stake in U.S. Bancorp by 0.3% during the 2nd quarter. First National Bank of Hutchinson now owns 10,838 shares of the financial services provider’s stock valued at $576,000 after purchasing an additional 32 shares in the last quarter. D. Scott Neal Inc. increased its stake in U.S. Bancorp by 0.5% during the 1st quarter. D. Scott Neal Inc. now owns 7,488 shares of the financial services provider’s stock valued at $386,000 after purchasing an additional 36 shares in the last quarter. Finally, Green Square Capital LLC increased its stake in U.S. Bancorp by 0.4% during the 1st quarter. Green Square Capital LLC now owns 11,322 shares of the financial services provider’s stock valued at $586,000 after purchasing an additional 41 shares in the last quarter. Institutional investors and hedge funds own 74.21% of the company’s stock.
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A number of analysts have recently commented on the stock. Wells Fargo & Company assumed 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 target for the company. BidaskClub lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, July 16th. Jefferies Group LLC reiterated a “buy” rating and issued a $59.00 price target on shares of U.S. Bancorp in a research note on Friday, June 9th. Argus upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research note on Thursday, July 20th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $52.50.
U.S. Bancorp (USB) opened at 51.64 on Friday. U.S. Bancorp has a one year low of $42.17 and a one year high of $56.61. The firm’s 50-day moving average is $52.02 and its 200 day moving average is $52.19. The stock has a market cap of $86.38 billion, a P/E ratio of 15.60 and a beta of 0.87.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.46 billion. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The business’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the company earned $0.82 EPS. On average, analysts anticipate that U.S. Bancorp will post $3.44 EPS for the current fiscal year.
U.S. Bancorp announced that its Board of Directors has approved a share repurchase program 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 reacquire up to 3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
U.S. Bancorp 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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