Ironvine Capital Partners LLC Acquires 10,335 Shares of U.S. Bancorp (NYSE:USB)

Ironvine Capital Partners LLC increased its holdings in shares of U.S. Bancorp (NYSE:USB) by 5.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 217,561 shares of the financial services provider’s stock after acquiring an additional 10,335 shares during the quarter. U.S. Bancorp makes up about 2.0% of Ironvine Capital Partners LLC’s holdings, making the stock its 26th largest position. Ironvine Capital Partners LLC’s holdings in U.S. Bancorp were worth $12,312,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Brookmont Capital Management grew its position in shares of U.S. Bancorp by 0.5% in the second quarter. Brookmont Capital Management now owns 36,674 shares of the financial services provider’s stock valued at $1,922,000 after purchasing an additional 195 shares in the last quarter. EagleClaw Capital Managment LLC grew its position in shares of U.S. Bancorp by 3.0% in the first quarter. EagleClaw Capital Managment LLC now owns 6,883 shares of the financial services provider’s stock valued at $332,000 after purchasing an additional 200 shares in the last quarter. Sky Investment Group LLC grew its position in shares of U.S. Bancorp by 1.8% in the second quarter. Sky Investment Group LLC now owns 11,250 shares of the financial services provider’s stock valued at $590,000 after purchasing an additional 200 shares in the last quarter. Culbertson A N & Co. Inc. grew its position in shares of U.S. Bancorp by 0.5% in the second quarter. Culbertson A N & Co. Inc. now owns 42,696 shares of the financial services provider’s stock valued at $2,237,000 after purchasing an additional 200 shares in the last quarter. Finally, SeaCrest Wealth Management LLC grew its position in shares of U.S. Bancorp by 0.7% in the second quarter. SeaCrest Wealth Management LLC now owns 28,512 shares of the financial services provider’s stock valued at $1,494,000 after purchasing an additional 207 shares in the last quarter. Institutional investors and hedge funds own 74.63% of the company’s stock.

U.S. Bancorp stock traded down $0.28 during midday trading on Tuesday, hitting $52.77. 2,168,002 shares of the company’s stock were exchanged, compared to its average volume of 6,065,279. U.S. Bancorp has a 52-week low of $43.14 and a 52-week high of $57.81. The stock’s 50-day moving average price is $54.04. 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 capitalization of $84.02 billion, a P/E ratio of 12.87, a P/E/G ratio of 1.84 and a beta of 1.06.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $1.09 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same period in the previous year, the business earned $1.02 earnings per share. The firm’s revenue was down 1.1% on a year-over-year basis. As a group, research 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 program on Thursday, June 27th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 3.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.80%. The ex-dividend date of this dividend was Thursday, June 27th. U.S. Bancorp’s payout ratio is 36.10%.

In related news, Vice Chairman Gillern Jeffry H. Von sold 9,428 shares of the business’s 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 transaction, the insider now directly owns 94,658 shares in the company, valued at $5,229,854.50. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Vice Chairman Shailesh M. Kotwal sold 20,000 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $57.33, for a total value of $1,146,600.00. Following the transaction, the insider now owns 65,959 shares of the company’s stock, valued at $3,781,429.47. 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. 0.24% of the stock is owned by company insiders.

Several equities analysts have recently weighed in on the company. Bank of America upgraded U.S. Bancorp from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $49.00 to $55.00 in a research report on Thursday, July 18th. Zacks Investment Research cut U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, April 15th. Morgan Stanley lifted their price target 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. JPMorgan Chase & Co. upgraded U.S. Bancorp from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $52.50 to $57.00 in a research report on Wednesday, July 31st. Finally, Macquarie cut U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $59.00 price target for the company. in a research report on Thursday, August 1st. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. U.S. Bancorp presently has a consensus rating of “Hold” and an average target price of $56.92.

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

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