Sabal Trust CO Boosts Position in U.S. Bancorp (USB)
Sabal Trust CO increased its stake in shares of U.S. Bancorp (NYSE:USB) by 9.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,831 shares of the financial services provider’s stock after buying an additional 397 shares during the period. Sabal Trust CO’s holdings in U.S. Bancorp were worth $251,000 as of its most recent filing with the SEC.
A number of other large investors also recently bought and sold shares of USB. Orrstown Financial Services Inc. boosted its stake 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 valued at $116,000 after buying an additional 475 shares during the period. SRS Capital Advisors Inc. boosted its stake 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 valued at $131,000 after buying an additional 371 shares during the period. Signature Estate & Investment Advisors LLC acquired a new stake in shares of U.S. Bancorp during the first quarter valued at approximately $155,000. WealthTrust Arizona LLC boosted its stake 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 valued at $156,000 after buying an additional 732 shares during the period. Finally, American National Bank acquired a new stake in shares of U.S. Bancorp during the first quarter valued at approximately $167,000. 75.84% of the stock is currently owned by institutional investors and hedge funds.
U.S. Bancorp (NYSE USB) traded down 0.63% during midday trading on Friday, reaching $52.05. 4,448,688 shares of the company’s stock were exchanged. The company has a market cap of $87.07 billion, a price-to-earnings ratio of 15.73 and a beta of 0.86. The firm has a 50-day moving average price of $52.32 and a 200 day moving average price of $52.55. U.S. Bancorp has a 12-month low of $42.17 and a 12-month 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 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.01. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same period in the prior year, the business earned $0.82 EPS. The company’s revenue for the quarter was up .7% on a year-over-year basis. On average, analysts expect that U.S. Bancorp will post $3.44 EPS for the current fiscal year.
U.S. Bancorp announced that its Board of Directors has approved a stock buyback plan on Wednesday, June 28th that permits the company to buyback $2.60 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Shareholders 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 annualized dividend and a yield of 2.15%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 33.63%.
A number of equities research analysts have recently issued reports on USB shares. BidaskClub cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Wells Fargo & Company began coverage on shares of U.S. Bancorp in a research note on Wednesday. They issued a “market perform” rating and a $56.00 price target on the stock. Rafferty Capital Markets lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $53.00 price target on the stock. in a research note on Thursday, April 20th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $59.00 price target on shares of U.S. Bancorp in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $52.85.
In other U.S. Bancorp news, Vice Chairman P.W. Parker sold 29,449 shares of the company’s stock in a transaction on Tuesday, May 16th. The shares were 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 in the company, valued at approximately $15,981,834.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.39% of the stock is currently owned by corporate insiders.
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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