Investment Centers of America Inc. lowered its position in U.S. Bancorp (NYSE:USB) by 40.8% during the second quarter, Holdings Channel reports. The institutional investor owned 19,793 shares of the financial services provider’s stock after selling 13,630 shares during the period. Investment Centers of America Inc.’s holdings in U.S. Bancorp were worth $798,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Franklin Resources Inc. raised its stake in U.S. Bancorp by 8.0% in the first quarter. Franklin Resources Inc. now owns 17,805,686 shares of the financial services provider’s stock worth $722,733,000 after buying an additional 1,324,977 shares in the last quarter. BlackRock Group LTD raised its stake in shares of U.S. Bancorp by 3.1% in the first quarter. BlackRock Group LTD now owns 15,988,334 shares of the financial services provider’s stock valued at $648,967,000 after buying an additional 478,684 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of U.S. Bancorp by 2.6% in the first quarter. Wellington Management Group LLP now owns 15,059,741 shares of the financial services provider’s stock valued at $611,275,000 after buying an additional 384,013 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of U.S. Bancorp by 1.1% in the first quarter. Geode Capital Management LLC now owns 13,594,382 shares of the financial services provider’s stock valued at $550,689,000 after buying an additional 153,855 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its stake in shares of U.S. Bancorp by 0.3% in the second quarter. First Eagle Investment Management LLC now owns 11,357,623 shares of the financial services provider’s stock valued at $458,053,000 after buying an additional 28,985 shares in the last quarter. Institutional investors own 72.58% of the company’s stock.

U.S. Bancorp (NYSE:USB) traded up 0.21% during midday trading on Thursday, reaching $43.35. The company had a trading volume of 1,094,174 shares. The stock has a market capitalization of $74.19 billion, a PE ratio of 13.59 and a beta of 0.72. The firm’s 50 day moving average is $43.24 and its 200 day moving average is $41.83. U.S. Bancorp has a 1-year low of $37.07 and a 1-year high of $44.58.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Friday, July 15th. The financial services provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.03. U.S. Bancorp had a net margin of 26.56% and a return on equity of 14.05%. The company had revenue of $5.45 billion for the quarter. During the same quarter in the previous year, the company posted $0.80 earnings per share. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. On average, equities analysts anticipate that U.S. Bancorp will post $3.25 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be given a dividend of $0.28 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a yield of 2.59%. The ex-dividend date of this dividend is Wednesday, September 28th. U.S. Bancorp’s dividend payout ratio is presently 31.88%.

Several brokerages have recently commented on USB. Piper Jaffray Cos. reiterated an “overweight” rating and set a $46.00 price objective (down previously from $47.00) on shares of U.S. Bancorp in a report on Monday. Zacks Investment Research lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Monday. Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a report on Saturday, September 17th. Wells Fargo & Co. reiterated a “buy” rating on shares of U.S. Bancorp in a report on Friday, September 16th. Finally, Portales Partners upgraded U.S. Bancorp from a “sector perform” rating to an “outperform” rating in a report on Thursday, August 25th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $45.18.

In other U.S. Bancorp news, Vice Chairman Gillern Jeffry H. Von sold 102,961 shares of the company’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $42.00, for a total transaction of $4,324,362.00. Following the transaction, the insider now directly owns 178,422 shares in the company, valued at $7,493,724. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Craig E. Gifford sold 2,500 shares of the company’s stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $41.87, for a total transaction of $104,675.00. Following the transaction, the executive vice president now owns 49,881 shares in the company, 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.

5 Day Chart for NYSE:USB

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