First Business Financial Services Inc. Sells 940 Shares of U.S. Bancorp (NYSE:USB)

First Business Financial Services Inc. lowered its position in U.S. Bancorp (NYSE:USB) by 17.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,593 shares of the financial services provider’s stock after selling 940 shares during the period. First Business Financial Services Inc.’s holdings in U.S. Bancorp were worth $241,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in USB. Northern Trust Corp increased its holdings in U.S. Bancorp by 0.9% during the 1st quarter. Northern Trust Corp now owns 20,320,154 shares of the financial services provider’s stock worth $979,228,000 after purchasing an additional 190,324 shares in the last quarter. Geode Capital Management LLC increased its holdings in U.S. Bancorp by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 18,322,754 shares of the financial services provider’s stock worth $835,766,000 after purchasing an additional 1,285,265 shares in the last quarter. Daily Journal Corp increased its holdings in U.S. Bancorp by 9,900.0% during the 2nd quarter. Daily Journal Corp now owns 14,000,000 shares of the financial services provider’s stock worth $7,336,000 after purchasing an additional 13,860,000 shares in the last quarter. Janus Henderson Group PLC increased its holdings in U.S. Bancorp by 3.7% during the 1st quarter. Janus Henderson Group PLC now owns 13,071,712 shares of the financial services provider’s stock worth $629,921,000 after purchasing an additional 470,496 shares in the last quarter. Finally, Clearbridge Investments LLC increased its holdings in U.S. Bancorp by 1.8% during the 1st quarter. Clearbridge Investments LLC now owns 11,207,103 shares of the financial services provider’s stock worth $540,070,000 after purchasing an additional 195,579 shares in the last quarter. Institutional investors and hedge funds own 74.64% of the company’s stock.

In related news, Vice Chairman Shailesh M. Kotwal sold 20,000 shares of the firm’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $57.33, for a total value of $1,146,600.00. Following the completion of the sale, the insider now directly owns 65,959 shares in the company, valued at approximately $3,781,429.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Gillern Jeffry H. Von sold 9,428 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were 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 owns 94,658 shares of the company’s stock, valued at $5,229,854.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,414 shares of company stock valued at $2,297,215. Company insiders own 0.24% of the company’s stock.

A number of equities analysts have issued reports on the company. Zacks Investment Research cut U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Monday, April 15th. Bank of America upgraded U.S. Bancorp from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $49.00 to $55.00 in a report on Thursday, July 18th. Wedbush increased their target price on U.S. Bancorp from $46.00 to $49.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Deutsche Bank set a $59.00 target price on U.S. Bancorp and gave the stock a “hold” rating in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. upgraded U.S. Bancorp from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $52.50 to $57.00 in a report on Wednesday. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $56.92.

U.S. Bancorp stock opened at $55.43 on Friday. The business’s 50-day simple moving average is $53.92. U.S. Bancorp has a one year low of $43.14 and a one year high of $57.81. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.83 and a current ratio of 0.84. The firm has a market cap of $88.25 billion, a P/E ratio of 13.52, a price-to-earnings-growth ratio of 1.90 and a beta of 1.06.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.09 EPS 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 during the quarter, compared to the consensus estimate of $5.73 billion. During the same period in the prior year, the business posted $1.02 EPS. The company’s quarterly revenue was down 1.1% on a year-over-year basis. Analysts expect that U.S. Bancorp will post 4.31 earnings per share for the current year.

U.S. Bancorp announced that its Board of Directors has initiated a stock buyback plan on Thursday, June 27th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the financial services provider to purchase up to 3.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a dividend of $0.37 per share. The ex-dividend date was Thursday, June 27th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.67%. U.S. Bancorp’s dividend payout ratio is 36.10%.

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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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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