Strs Ohio boosted its holdings in shares of U.S. Bancorp (NYSE:USB) by 4.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 935,692 shares of the financial services provider’s stock after buying an additional 36,183 shares during the quarter. Strs Ohio’s holdings in U.S. Bancorp were worth $49,030,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Investment Management of Virginia LLC boosted 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 buying an additional 357 shares during the period. BTIM Corp. boosted 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 buying an additional 58,254 shares during the period. Rehmann Capital Advisory Group boosted 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 buying an additional 373 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in U.S. Bancorp by 2.4% in the first quarter. O Shaughnessy Asset Management LLC now owns 9,826 shares of the financial services provider’s stock valued at $474,000 after purchasing an additional 227 shares during the period. Finally, Oregon Public Employees Retirement Fund boosted its holdings in U.S. Bancorp by 0.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 160,241 shares of the financial services provider’s stock valued at $8,397,000 after purchasing an additional 936 shares during the period. 74.63% of the stock is owned by institutional investors.
USB has been the subject of a number of recent research reports. Deutsche Bank set a $59.00 target price 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 for the company. in a report on Thursday, August 1st. Bank of America upgraded 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 report on Thursday, July 18th. Wedbush lifted their target price on U.S. Bancorp from $46.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Finally, Zacks Investment Research lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Monday, April 15th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $56.92.
U.S. Bancorp (NYSE:USB) last announced 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. The company had revenue of $5.58 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business earned $1.02 EPS. As a group, research analysts anticipate that U.S. Bancorp will post 4.31 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Thursday, June 27th. U.S. Bancorp’s dividend payout ratio (DPR) is 36.10%.
U.S. Bancorp announced that its Board of Directors has initiated a share buyback program on Thursday, June 27th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the financial services provider to purchase up to 3.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other U.S. Bancorp news, Vice Chairman Shailesh M. Kotwal sold 20,000 shares of U.S. Bancorp stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $57.33, for a total transaction of $1,146,600.00. Following the completion of the sale, the insider now directly owns 65,959 shares of the company’s stock, valued at approximately $3,781,429.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Vice Chairman Gillern Jeffry H. Von sold 9,428 shares of U.S. Bancorp stock in a transaction dated 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 directly owns 94,658 shares of the company’s stock, valued at $5,229,854.50. The disclosure for this sale can be found here. Insiders have sold a total of 40,414 shares of company stock valued at $2,297,215 over the last ninety days. 0.24% of the stock is owned by company insiders.
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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