Pittenger & Anderson Inc. Has $4,987,000 Stake in U.S. Bancorp (USB)
Pittenger & Anderson Inc. increased its position in U.S. Bancorp (NYSE:USB) by 0.8% during the second quarter, Holdings Channel reports. The firm owned 123,645 shares of the financial services provider’s stock after buying an additional 925 shares during the period. Pittenger & Anderson Inc.’s holdings in U.S. Bancorp were worth $4,987,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Chicago Partners Investment Group LLC boosted its stake in U.S. Bancorp by 13.3% in the second quarter. Chicago Partners Investment Group LLC now owns 2,606 shares of the financial services provider’s stock worth $105,000 after buying an additional 306 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in U.S. Bancorp during the second quarter worth approximately $106,000. First Personal Financial Services boosted its stake in U.S. Bancorp by 40.7% in the second quarter. First Personal Financial Services now owns 2,784 shares of the financial services provider’s stock worth $112,000 after buying an additional 806 shares during the period. Hudock Capital Group LLC boosted its stake in U.S. Bancorp by 0.5% in the second quarter. Hudock Capital Group LLC now owns 3,734 shares of the financial services provider’s stock worth $150,000 after buying an additional 19 shares during the period. Finally, James Investment Research Inc. boosted its stake in U.S. Bancorp by 1.4% in the second quarter. James Investment Research Inc. now owns 4,055 shares of the financial services provider’s stock worth $164,000 after buying an additional 55 shares during the period. Hedge funds and other institutional investors own 72.58% of the company’s stock.
Shares of U.S. Bancorp (NYSE:USB) traded up 0.639% during mid-day trading on Wednesday, reaching $43.295. The company’s stock had a trading volume of 2,483,603 shares. U.S. Bancorp has a 1-year low of $37.07 and a 1-year high of $44.58. The company has a market capitalization of $74.10 billion, a price-to-earnings ratio of 13.572 and a beta of 0.72. The company’s 50 day moving average price is $43.19 and its 200-day moving average price is $41.82.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Friday, July 15th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.03. The company earned $5.45 billion during the quarter. U.S. Bancorp had a return on equity of 14.05% and a net margin of 26.56%. The firm’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period last year, the firm earned $0.80 earnings per share. Analysts predict that U.S. Bancorp will post $3.25 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 2.60%. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, September 28th. U.S. Bancorp’s payout ratio is 31.88%.
USB has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods decreased their price target on U.S. Bancorp from $45.00 to $43.00 and set a “market perform” rating for the company in a research note on Tuesday, July 5th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $47.00 price target (up from $46.00) on shares of U.S. Bancorp in a research note on Tuesday, July 19th. Deutsche Bank AG reiterated a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, June 15th. Zacks Investment Research cut U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Monday. Finally, FBR & Co reiterated a “buy” rating on shares of U.S. Bancorp in a research note on Monday, July 18th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have given a buy rating to the company. U.S. Bancorp currently has a consensus rating of “Hold” and a consensus price target of $45.18.
In other U.S. Bancorp news, Vice Chairman Gillern Jeffry H. Von sold 102,961 shares of U.S. Bancorp stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $42.00, for a total transaction of $4,324,362.00. Following the completion of the sale, the insider now directly owns 178,422 shares of the company’s stock, valued at approximately $7,493,724. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Craig E. Gifford sold 2,500 shares of U.S. Bancorp stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $41.87, for a total value of $104,675.00. Following the sale, the executive vice president now directly owns 49,881 shares of the company’s stock, valued at $2,088,517.47. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.
U.S. Bancorp Company Profile
U.S. Bancorp is a multi-state financial services holding company. The Company’s banking subsidiary, U.S. Bank National Association, is engaged in the general banking business in domestic markets. It provides a range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services.
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