City Holding Co. reduced its stake in U.S. Bancorp (NYSE:USB) by 2.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,502 shares of the financial services provider’s stock after selling 1,030 shares during the period. City Holding Co.’s holdings in U.S. Bancorp were worth $2,699,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cetera Advisors LLC increased its position in shares of U.S. Bancorp by 25.1% during the fourth quarter. Cetera Advisors LLC now owns 27,885 shares of the financial services provider’s stock worth $1,277,000 after purchasing an additional 5,596 shares in the last quarter. Investment Management of Virginia LLC increased its position in shares of U.S. Bancorp by 0.9% during the first quarter. Investment Management of Virginia LLC now owns 40,597 shares of the financial services provider’s stock worth $1,956,000 after purchasing an additional 357 shares in the last quarter. BTIM Corp. increased its position in shares of U.S. Bancorp by 3.8% during the first quarter. BTIM Corp. now owns 1,605,781 shares of the financial services provider’s stock worth $77,383,000 after purchasing an additional 58,254 shares in the last quarter. Rehmann Capital Advisory Group increased its position in shares of U.S. Bancorp by 1.4% during the first quarter. Rehmann Capital Advisory Group now owns 27,436 shares of the financial services provider’s stock worth $1,322,000 after purchasing an additional 373 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in shares of U.S. Bancorp by 2.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 9,826 shares of the financial services provider’s stock worth $474,000 after purchasing an additional 227 shares in the last quarter. Institutional investors and hedge funds own 74.67% of the company’s stock.
In other U.S. Bancorp news, Vice Chairman Gillern Jeffry H. Von sold 9,428 shares of U.S. Bancorp stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $55.25, for a total value of $520,897.00. Following the sale, the insider now owns 94,658 shares of the company’s stock, valued at approximately $5,229,854.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Gillern Jeffry H. Von sold 4,669 shares of U.S. Bancorp stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $53.14, for a total value of $248,110.66. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by insiders.
USB has been the topic of a number of research analyst reports. Wedbush initiated coverage on Millendo Therapeutics in a research report on Thursday, July 18th. They set an “outperform” rating and a $24.00 target price on the stock. Bank of America lifted their target price on Micron Technology from $45.00 to $60.00 and gave the stock an “average” rating in a research report on Thursday, July 18th. Morgan Stanley lifted their target price on Yum! Brands from $97.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. initiated coverage on Pinduoduo in a research report on Tuesday, July 9th. They set an “underweight” rating and a $20.48 target price on the stock. Finally, Zacks Investment Research upgraded GreenTree Hospitality Group from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $56.63.
Shares of NYSE USB traded up $0.67 during midday trading on Friday, reaching $57.23. 1,823,357 shares of the company were exchanged, compared to its average volume of 5,150,317. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.86. U.S. Bancorp has a 1 year low of $43.14 and a 1 year high of $56.95. The company’s fifty day moving average is $53.27. The company has a market capitalization of $90.09 billion, a PE ratio of 13.96, a P/E/G ratio of 1.88 and a beta of 1.06.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.02. U.S. Bancorp had a return on equity of 15.45% and a net margin of 26.70%. The firm had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same quarter last year, the company posted $1.02 earnings per share. The business’s revenue was down 1.1% on a year-over-year basis. As a group, equities research analysts predict that U.S. Bancorp will post 4.3 earnings per share for the current year.
U.S. Bancorp announced that its Board of Directors has authorized a share buyback plan on Thursday, June 27th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 3.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend was Thursday, June 27th. U.S. Bancorp’s dividend payout ratio is presently 36.10%.
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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