Tiemann Investment Advisors LLC Has $238,000 Stake in U.S. Bancorp (USB)
Tiemann Investment Advisors LLC reduced its position in U.S. Bancorp (NYSE:USB) by 2.1% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 4,625 shares of the financial services provider’s stock after selling 100 shares during the period. Tiemann Investment Advisors LLC’s holdings in U.S. Bancorp were worth $238,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Hudock Capital Group LLC boosted its stake in U.S. Bancorp by 0.4% in the first quarter. Hudock Capital Group LLC now owns 3,787 shares of the financial services provider’s stock worth $195,000 after buying an additional 16 shares during the period. Beese Fulmer Investment Management Inc. boosted its stake in U.S. Bancorp by 0.4% in the first quarter. Beese Fulmer Investment Management Inc. now owns 5,610 shares of the financial services provider’s stock worth $289,000 after buying an additional 25 shares during the period. D. Scott Neal Inc. boosted its stake in U.S. Bancorp by 0.5% in the first quarter. D. Scott Neal Inc. now owns 7,488 shares of the financial services provider’s stock worth $386,000 after buying an additional 36 shares during the period. Smith Moore & CO. boosted its stake in U.S. Bancorp by 0.4% in the first quarter. Smith Moore & CO. now owns 13,586 shares of the financial services provider’s stock worth $700,000 after buying an additional 51 shares during the period. Finally, Sandy Spring Bank boosted its stake in U.S. Bancorp by 0.7% in the first quarter. Sandy Spring Bank now owns 7,674 shares of the financial services provider’s stock worth $395,000 after buying an additional 51 shares during the period. 75.84% of the stock is currently owned by institutional investors and hedge funds.
U.S. Bancorp (NYSE:USB) opened at 53.12 on Tuesday. The company has a market cap of $89.19 billion, a price-to-earnings ratio of 16.05 and a beta of 0.86. U.S. Bancorp has a 12 month low of $41.47 and a 12 month high of $56.61. The company has a 50-day moving average of $52.20 and a 200-day moving average of $52.46.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.84 by $0.01. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. During the same period in the previous year, the business posted $0.82 earnings per share. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. Analysts predict that U.S. Bancorp will post $3.44 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 17th. Investors of record on Friday, June 30th were issued a $0.28 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.11%. U.S. Bancorp’s dividend payout ratio is 33.63%.
U.S. Bancorp announced that its Board of Directors has authorized a stock buyback program on Wednesday, June 28th that permits the company to buyback $2.60 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.
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A number of research firms recently weighed in on USB. Jefferies Group LLC reaffirmed a “buy” rating and issued a $59.00 price objective on shares of U.S. Bancorp in a report on Friday, June 9th. BidaskClub cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Rafferty Capital Markets cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $53.00 price objective on the stock. in a report on Thursday, April 20th. Argus raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Thursday, July 20th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. U.S. Bancorp presently has a consensus rating of “Hold” and a consensus target price of $52.56.
In related news, Vice Chairman P.W. Parker sold 29,449 shares of U.S. Bancorp stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $51.94, for a total value of $1,529,581.06. Following the completion of the transaction, the insider now directly owns 307,698 shares of the company’s stock, valued at $15,981,834.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.39% of the company’s stock.
U.S. Bancorp Company Profile
U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.
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