Parkside Financial Bank & Trust increased its holdings in shares of U.S. Bancorp (NYSE:USB) by 9.6% in the third quarter, Holdings Channel.com reports. The fund owned 8,911 shares of the financial services provider’s stock after buying an additional 784 shares during the quarter. Parkside Financial Bank & Trust’s holdings in U.S. Bancorp were worth $493,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. Whitnell & Co. lifted its stake in shares of U.S. Bancorp by 152.7% during the 3rd quarter. Whitnell & Co. now owns 14,223 shares of the financial services provider’s stock worth $787,000 after acquiring an additional 8,595 shares during the last quarter. Principle Wealth Partners LLC raised its position in U.S. Bancorp by 252.1% during the 3rd quarter. Principle Wealth Partners LLC now owns 13,803 shares of the financial services provider’s stock valued at $764,000 after purchasing an additional 9,883 shares in the last quarter. Madrona Funds LLC bought a new stake in U.S. Bancorp during the 3rd quarter valued at $268,000. Lakeview Capital Partners LLC raised its position in U.S. Bancorp by 8.9% during the 3rd quarter. Lakeview Capital Partners LLC now owns 4,365 shares of the financial services provider’s stock valued at $242,000 after purchasing an additional 355 shares in the last quarter. Finally, Gamble Jones Investment Counsel raised its position in U.S. Bancorp by 1.5% during the 3rd quarter. Gamble Jones Investment Counsel now owns 50,314 shares of the financial services provider’s stock valued at $2,784,000 after purchasing an additional 725 shares in the last quarter. 75.50% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have weighed in on USB shares. Citigroup lowered U.S. Bancorp from a “neutral” rating to a “sell” rating and decreased their target price for the company from $54.00 to $49.00 in a research report on Tuesday, October 8th. Deutsche Bank set a $59.00 target price on U.S. Bancorp and gave the company a “hold” rating in a research report on Friday, July 26th. Wedbush lifted their target price on U.S. Bancorp from $46.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. lifted their target price on U.S. Bancorp from $55.50 to $58.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Finally, UBS Group lifted their target price on U.S. Bancorp from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. U.S. Bancorp has a consensus rating of “Hold” and an average price target of $56.67.
Shares of USB traded down $0.20 during trading hours on Friday, hitting $58.90. The company had a trading volume of 3,152,308 shares, compared to its average volume of 5,770,772. The company has a market capitalization of $92.33 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 2.25 and a beta of 1.11. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.86. U.S. Bancorp has a one year low of $43.14 and a one year high of $59.71. The company’s fifty day moving average price is $55.56 and its two-hundred day moving average price is $53.63.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.11 by $0.04. The firm had revenue of $5.92 billion during the quarter, compared to analyst estimates of $5.81 billion. U.S. Bancorp had a return on equity of 15.39% and a net margin of 26.54%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.06 EPS. Analysts forecast that U.S. Bancorp will post 4.33 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.85%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, September 27th. U.S. Bancorp’s payout ratio is presently 40.98%.
In other news, insider Gillern Jeffry H. Von sold 5,357 shares of the business’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $56.67, for a total value of $303,581.19. Following the completion of the transaction, the insider now directly owns 89,301 shares of the company’s stock, valued at approximately $5,060,687.67. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David B. Omaley sold 10,133 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $55.76, for a total value of $565,016.08. Following the completion of the transaction, the director now directly owns 191,754 shares of the company’s stock, valued at $10,692,203.04. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.
U.S. Bancorp Company 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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