Thoroughbred Financial Services LLC increased its position in U.S. Bancorp (NYSE:USB) by 5,243.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 469,960 shares of the financial services provider’s stock after buying an additional 461,165 shares during the period. Thoroughbred Financial Services LLC’s holdings in U.S. Bancorp were worth $46,996,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of the stock. Executive Wealth Management LLC purchased a new stake in U.S. Bancorp in the 4th quarter worth $27,000. Trustcore Financial Services LLC purchased a new stake in U.S. Bancorp in the 1st quarter worth $28,000. Catamount Wealth Management lifted its stake in U.S. Bancorp by 525.0% in the 1st quarter. Catamount Wealth Management now owns 750 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 630 shares in the last quarter. New Potomac Partners LLC purchased a new stake in U.S. Bancorp in the 1st quarter worth $37,000. Finally, CNB Bank lifted its stake in U.S. Bancorp by 161.0% in the 1st quarter. CNB Bank now owns 783 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 483 shares in the last quarter. 74.67% of the stock is owned by institutional investors.
Shares of NYSE USB traded up $0.36 during mid-day trading on Friday, hitting $56.92. 603,862 shares of the company’s stock traded hands, compared to its average volume of 5,150,317. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.84 and a quick ratio of 0.83. U.S. Bancorp has a 1 year low of $43.14 and a 1 year high of $56.95. The company has a market capitalization of $90.09 billion, a P/E ratio of 13.88, a P/E/G ratio of 1.88 and a beta of 1.06. The business has a 50-day moving average of $53.27.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.02. U.S. Bancorp had a net margin of 26.70% and a return on equity of 15.45%. The company had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same period in the prior year, the company posted $1.02 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities analysts expect that U.S. Bancorp will post 4.3 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend was Thursday, June 27th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 36.10%.
U.S. Bancorp declared that its Board of Directors has approved a share buyback program on Thursday, June 27th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 3.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.
USB has been the topic of several research analyst reports. Morgan Stanley boosted their price target on shares of Yum! Brands from $97.00 to $106.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Bank of America boosted their price target on shares of Micron Technology from $45.00 to $60.00 and gave the stock an “average” rating in a research note on Thursday, July 18th. Wedbush initiated coverage on shares of Millendo Therapeutics in a research note on Thursday, July 18th. They issued an “outperform” rating and a $24.00 price target on the stock. Zacks Investment Research upgraded shares of GreenTree Hospitality Group from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Finally, JPMorgan Chase & Co. started coverage on shares of Pinduoduo in a research report on Tuesday, July 9th. They set an “underweight” rating and a $20.48 target price on the stock. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $56.63.
In related news, Vice Chairman Gillern Jeffry H. Von sold 4,669 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $53.14, for a total value of $248,110.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Gillern Jeffry H. Von sold 9,428 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $55.25, for a total transaction of $520,897.00. Following the completion of the sale, the insider now directly owns 94,658 shares in the company, valued at $5,229,854.50. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.
U.S. Bancorp Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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