Sather Financial Group Inc lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 9.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,335 shares of the financial services provider’s stock after selling 4,721 shares during the period. U.S. Bancorp makes up 0.4% of Sather Financial Group Inc’s portfolio, making the stock its 29th biggest position. Sather Financial Group Inc’s holdings in U.S. Bancorp were worth $2,323,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Trustcore Financial Services LLC bought a new position in shares of U.S. Bancorp during the 1st quarter valued at about $28,000. Catamount Wealth Management lifted its holdings in shares of U.S. Bancorp by 525.0% during the 1st quarter. Catamount Wealth Management now owns 750 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 630 shares in the last quarter. New Potomac Partners LLC bought a new position in shares of U.S. Bancorp during the 1st quarter valued at about $37,000. CNB Bank lifted its holdings in shares of U.S. Bancorp by 161.0% during the 1st quarter. CNB Bank now owns 783 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 483 shares in the last quarter. Finally, Knuff & Co LLC lifted its holdings in shares of U.S. Bancorp by 562.5% during the 1st quarter. Knuff & Co LLC now owns 795 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 675 shares in the last quarter. Hedge funds and other institutional investors own 74.64% of the company’s stock.
Several research firms have recently weighed in on USB. Deutsche Bank set a $59.00 price objective on U.S. Bancorp and gave the company a “hold” rating in a report on Friday, July 26th. Macquarie lowered U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $59.00 target price on the stock. in a research report on Thursday. 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. Bank of America raised U.S. Bancorp from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $49.00 to $55.00 in a research report on Thursday, July 18th. Finally, Morgan Stanley lifted their target price on U.S. Bancorp from $55.00 to $56.00 and gave the company an “underweight” rating in a research report on Thursday, July 18th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $56.92.
U.S. Bancorp stock traded down $0.62 during midday trading on Friday, reaching $55.07. The stock had a trading volume of 462,501 shares, compared to its average volume of 5,194,114. The company’s fifty day moving average is $53.87. U.S. Bancorp has a 1-year low of $43.14 and a 1-year high of $57.81. The stock has a market capitalization of $87.85 billion, a PE ratio of 13.47, a P/E/G ratio of 1.90 and a beta of 1.06. The company has a quick ratio of 0.83, a current ratio of 0.84 and a debt-to-equity ratio of 0.86.
U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.07 by $0.02. The business had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.73 billion. U.S. Bancorp had a return on equity of 15.45% and a net margin of 26.70%. U.S. Bancorp’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.02 EPS. As a group, equities analysts anticipate that U.S. Bancorp will post 4.3 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.69%. The ex-dividend date was Thursday, June 27th. U.S. Bancorp’s dividend payout ratio (DPR) is 36.10%.
U.S. Bancorp declared that its board has authorized a stock buyback program on Thursday, June 27th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 3.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.
About U.S. Bancorp
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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