U.S. Bancorp (USB) Shares Sold by Logan Capital Management Inc.
Logan Capital Management Inc. lowered its position in shares of U.S. Bancorp (NYSE:USB) by 29.2% during the first quarter, Holdings Channel reports. The institutional investor owned 21,710 shares of the financial services provider’s stock after selling 8,971 shares during the period. Logan Capital Management Inc.’s holdings in U.S. Bancorp were worth $1,118,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Orrstown Financial Services Inc. increased its position in shares of U.S. Bancorp by 26.9% in the first quarter. Orrstown Financial Services Inc. now owns 2,240 shares of the financial services provider’s stock worth $116,000 after buying an additional 475 shares in the last quarter. SRS Capital Advisors Inc. increased its position in shares of U.S. Bancorp by 17.0% in the first quarter. SRS Capital Advisors Inc. now owns 2,547 shares of the financial services provider’s stock worth $131,000 after buying an additional 371 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in shares of U.S. Bancorp during the first quarter worth $155,000. WealthTrust Arizona LLC increased its position in shares of U.S. Bancorp by 31.8% in the first quarter. WealthTrust Arizona LLC now owns 3,033 shares of the financial services provider’s stock worth $156,000 after buying an additional 732 shares in the last quarter. Finally, American National Bank acquired a new position in shares of U.S. Bancorp during the first quarter worth $167,000. Institutional investors and hedge funds own 75.84% of the company’s stock.
Shares of U.S. Bancorp (USB) traded down 0.88% during mid-day trading on Thursday, hitting $52.76. The company’s stock had a trading volume of 1,123,235 shares. The company has a 50-day moving average price of $52.29 and a 200-day moving average price of $52.54. The stock has a market cap of $88.26 billion, a PE ratio of 15.94 and a beta of 0.86. U.S. Bancorp has a 1-year low of $42.17 and a 1-year high of $56.61.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.01. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.46 billion. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The business’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period last year, the business posted $0.82 earnings per share. Analysts predict that U.S. Bancorp will post $3.44 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.12 annualized dividend and a yield of 2.10%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 33.63%.
U.S. Bancorp announced that its Board of Directors has initiated a stock buyback program on Wednesday, June 28th that authorizes the company to buyback $2.60 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
USB has been the topic of a number of research analyst reports. BidaskClub upgraded U.S. Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Jefferies Group LLC reiterated a “buy” rating and set a $59.00 price target on shares of U.S. Bancorp in a report on Friday, June 9th. Argus upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Thursday, July 20th. Rafferty Capital Markets downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and set a $53.00 price target on the stock. in a report on Thursday, April 20th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $52.85.
In other U.S. Bancorp news, Vice Chairman P.W. Parker sold 29,449 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $51.94, for a total transaction of $1,529,581.06. Following the completion of the sale, the insider now directly owns 307,698 shares in the company, valued at $15,981,834.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company 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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