Advisory Services Network LLC Acquires 938 Shares of U.S. Bancorp (USB)
Advisory Services Network LLC increased its position in shares of U.S. Bancorp (NYSE:USB) by 8.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,911 shares of the financial services provider’s stock after buying an additional 938 shares during the period. Advisory Services Network LLC’s holdings in U.S. Bancorp were worth $480,000 as of its most recent filing with the SEC.
Several other large investors also recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased 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 during the period. BlackRock Group LTD increased its stake in 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 worth $648,967,000 after buying an additional 478,684 shares during the period. Wellington Management Group LLP increased its stake in 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 worth $611,275,000 after buying an additional 384,013 shares during the period. Geode Capital Management LLC increased its stake in 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 worth $550,689,000 after buying an additional 153,855 shares during the period. Finally, American Century Companies Inc. increased its stake in U.S. Bancorp by 106.9% in the second quarter. American Century Companies Inc. now owns 10,310,646 shares of the financial services provider’s stock worth $415,828,000 after buying an additional 5,326,919 shares during the period. 72.58% of the stock is currently owned by institutional investors and hedge funds.
U.S. Bancorp (NYSE:USB) traded up 0.55% during mid-day trading on Thursday, reaching $43.89. 12,170,205 shares of the company traded hands. The firm’s 50-day moving average is $43.29 and its 200 day moving average is $42.01. The stock has a market capitalization of $75.12 billion, a PE ratio of 13.76 and a beta of 0.82. U.S. Bancorp has a 52-week low of $37.07 and a 52-week high of $44.58.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Friday, July 15th. The financial services provider reported $0.83 EPS for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $5.45 billion for the quarter. During the same quarter in the previous year, the business posted $0.80 EPS. The company’s quarterly revenue was up 8.1% on a year-over-year basis. On average, equities research analysts expect that U.S. Bancorp will post $3.25 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.55%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.26. U.S. Bancorp’s dividend payout ratio (DPR) is currently 35.00%.
USB has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reduced their price target on shares of U.S. Bancorp from $45.00 to $43.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 5th. Piper Jaffray Cos. reissued 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 reissued a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, June 15th. Zacks Investment Research downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, September 19th. Finally, FBR & Co reaffirmed a “buy” rating on shares of U.S. Bancorp in a research note on Monday, July 18th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $45.21.
In other news, EVP Craig E. Gifford sold 2,500 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $41.87, for a total transaction of $104,675.00. Following the sale, the executive vice president now owns 49,881 shares in the company, valued at $2,088,517.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman Gillern Jeffry H. Von sold 102,961 shares of U.S. Bancorp stock in a transaction that occurred on 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 sale, the insider now owns 178,422 shares in the company, valued at approximately $7,493,724. The disclosure for this sale can be found here. 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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