Schwab Charles Investment Management Inc. raised its stake in U.S. Bancorp (NYSE:USB) by 4.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,935,585 shares of the financial services provider’s stock after buying an additional 204,259 shares during the period. Schwab Charles Investment Management Inc.’s holdings in U.S. Bancorp were worth $254,183,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Hudock Capital Group LLC raised its position 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 valued at $195,000 after buying an additional 16 shares during the period. Beese Fulmer Investment Management Inc. raised its position 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 valued at $289,000 after buying an additional 25 shares during the period. D. Scott Neal Inc. raised its position 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 valued at $386,000 after buying an additional 36 shares during the period. Smith Moore & CO. raised its position 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 valued at $700,000 after buying an additional 51 shares during the period. Finally, Sandy Spring Bank raised its position 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 valued at $395,000 after buying an additional 51 shares during the period. Hedge funds and other institutional investors own 75.84% of the company’s stock.

Shares of U.S. Bancorp (USB) traded down 0.544% during midday trading on Friday, hitting $52.095. 986,497 shares of the company’s stock were exchanged. The firm has a market cap of $87.14 billion, a price-to-earnings ratio of 15.739 and a beta of 0.86. U.S. Bancorp has a 52 week low of $42.17 and a 52 week high of $56.61. The company has a 50-day moving average of $52.30 and a 200-day moving average of $52.54.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. The company had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. U.S. Bancorp’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the company posted $0.82 EPS. Equities research analysts expect that U.S. Bancorp will post $3.44 EPS for the current fiscal year.

U.S. Bancorp declared that its board has approved a share repurchase program on Wednesday, June 28th that allows the company to buyback $2.60 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

The business also recently announced a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date was Wednesday, June 28th. U.S. Bancorp’s dividend payout ratio is presently 33.63%.

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Several equities analysts have weighed in on the stock. Wells Fargo & Company assumed coverage on shares of U.S. Bancorp in a research report on Wednesday. They set a “market perform” rating and a $56.00 price objective on the stock. Jefferies Group LLC reiterated a “buy” rating and set a $59.00 price objective on shares of U.S. Bancorp in a research report on Friday, June 9th. BidaskClub cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a research 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 research report on Thursday, April 20th. Finally, Argus upgraded 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 research report on Thursday, July 20th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. U.S. Bancorp presently has an average rating of “Hold” and an average target price of $52.85.

In related news, Vice Chairman P.W. Parker sold 29,449 shares of the firm’s stock in a transaction dated 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 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 legal filing with the SEC, which is available through 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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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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