Security National Bank of Sioux City Iowa IA Takes Position in U.S. Bancorp (NYSE:USB)
Security National Bank of Sioux City Iowa IA purchased a new position in U.S. Bancorp (NYSE:USB) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 21,000 shares of the financial services provider’s stock, valued at approximately $1,082,000.
Several other institutional investors have also recently made changes to their positions in USB. Orrstown Financial Services Inc. boosted 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. boosted 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 purchased a new position in shares of U.S. Bancorp during the first quarter worth $155,000. WealthTrust Arizona LLC boosted 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 purchased a new position in shares of U.S. Bancorp during the first quarter worth $167,000. 75.84% of the stock is currently owned by institutional investors.
Shares of U.S. Bancorp (USB) traded down 0.63% during midday trading on Friday, reaching $52.05. 4,448,688 shares of the company’s stock traded hands. The stock has a market cap of $87.07 billion, a P/E ratio of 15.73 and a beta of 0.86. The stock has a 50 day moving average of $52.32 and a 200-day moving average 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 released its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same period last year, the firm earned $0.82 earnings per share. The business’s quarterly revenue was up .7% compared to the same quarter last year. On average, equities research analysts forecast that U.S. Bancorp will post $3.44 EPS for the current fiscal year.
U.S. Bancorp declared that its board has authorized a share repurchase plan on Wednesday, June 28th that allows the company to repurchase $2.60 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 17th. Shareholders of record on Friday, June 30th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date of this dividend was Wednesday, June 28th. U.S. Bancorp’s dividend payout ratio (DPR) is 33.63%.
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A number of equities analysts have recently weighed in on USB shares. BidaskClub raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Jefferies Group LLC reissued a “buy” rating and set a $59.00 price target on shares of U.S. Bancorp in a research report on Friday, June 9th. Argus raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Thursday, July 20th. 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, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. 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 company has an average rating of “Hold” and a consensus target price 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 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 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 Securities & Exchange Commission, which can be accessed through this link. 0.39% of the stock is currently owned by company 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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