Wilbanks Smith & Thomas Asset Management LLC maintained its stake in shares of U.S. Bancorp (NYSE:USB) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,254 shares of the financial services provider’s stock at the end of the first quarter. Wilbanks Smith & Thomas Asset Management LLC’s holdings in U.S. Bancorp were worth $1,095,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the business. Investment Partners Ltd. OH ADV lifted its position in U.S. Bancorp by 33.6% in the 1st quarter. Investment Partners Ltd. OH ADV now owns 8,054 shares of the financial services provider’s stock valued at $415,000 after purchasing an additional 2,024 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in U.S. Bancorp by 13.1% in the 1st quarter. Stratos Wealth Partners LTD. now owns 40,541 shares of the financial services provider’s stock valued at $2,088,000 after purchasing an additional 4,683 shares during the last quarter. TIAA CREF Investment Management LLC lifted its position in U.S. Bancorp by 1.1% in the 1st quarter. TIAA CREF Investment Management LLC now owns 6,968,670 shares of the financial services provider’s stock valued at $358,887,000 after purchasing an additional 73,504 shares during the last quarter. Knights of Columbus Asset Advisors LLC bought a new stake in U.S. Bancorp in the 1st quarter valued at about $1,661,000. Finally, Nelson Roberts Investment Advisors LLC lifted its position in U.S. Bancorp by 0.3% in the 1st quarter. Nelson Roberts Investment Advisors LLC now owns 120,356 shares of the financial services provider’s stock valued at $6,198,000 after purchasing an additional 320 shares during the last quarter. 73.97% of the stock is owned by institutional investors.
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U.S. Bancorp (USB) opened at 53.67 on Friday. The stock has a market capitalization of $89.78 billion, a P/E ratio of 16.21 and a beta of 0.87. The stock has a 50 day moving average of $52.00 and a 200 day moving average of $52.08. 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 issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. The firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.46 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.82 EPS. On average, equities research analysts forecast that U.S. Bancorp will post $3.43 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a dividend of $0.30 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.20 dividend on an annualized basis and a yield of 2.24%. U.S. Bancorp’s dividend payout ratio is 33.63%.
U.S. Bancorp declared that its Board of Directors has authorized a share repurchase program on Wednesday, June 28th that allows the company to repurchase $2.60 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
Several brokerages recently weighed in on USB. Wells Fargo & Company began coverage on shares of U.S. Bancorp in a research report on Wednesday, August 9th. They issued a “market perform” rating and a $56.00 price objective on the stock. Jefferies Group LLC restated a “buy” rating and set a $59.00 price target on shares of U.S. Bancorp in a research report on Friday, June 9th. BidaskClub downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research report 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 target on the stock in a research report on Thursday, July 20th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $52.50.
About U.S. Bancorp
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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