U.S. Bancorp (USB) Shares Bought by Country Trust Bank
Country Trust Bank grew its position in U.S. Bancorp (NYSE:USB) by 2.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 610,921 shares of the financial services provider’s stock after buying an additional 13,130 shares during the period. U.S. Bancorp makes up 1.5% of Country Trust Bank’s portfolio, making the stock its 22nd largest position. Country Trust Bank’s holdings in U.S. Bancorp were worth $31,719,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in USB. SRS Capital Advisors Inc. grew its holdings in shares of U.S. Bancorp by 17.0% in the 1st 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. Orrstown Financial Services Inc. grew its holdings in shares of U.S. Bancorp by 30.4% in the 2nd quarter. Orrstown Financial Services Inc. now owns 2,921 shares of the financial services provider’s stock valued at $152,000 after buying an additional 681 shares during the period. Signature Estate & Investment Advisors LLC acquired a new position in shares of U.S. Bancorp in the 1st quarter valued at $155,000. Tradewinds Capital Management LLC grew its holdings in shares of U.S. Bancorp by 87.4% in the 1st quarter. Tradewinds Capital Management LLC now owns 3,663 shares of the financial services provider’s stock valued at $189,000 after buying an additional 1,708 shares during the period. Finally, Hudock Capital Group LLC grew its holdings in shares of U.S. Bancorp by 0.4% in the 1st 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. 74.21% of the stock is owned by institutional investors.
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Shares of U.S. Bancorp (NYSE:USB) opened at 51.64 on Friday. The firm’s 50-day moving average is $52.02 and its 200 day moving average is $52.19. U.S. Bancorp has a 12 month low of $42.17 and a 12 month high of $56.61. The company has a market capitalization of $86.38 billion, a PE ratio of 15.60 and a beta of 0.87.
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, beating analysts’ consensus estimates of $0.84 by $0.01. The firm 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%. The business’s revenue was up .7% on a year-over-year basis. During the same period last year, the company earned $0.82 earnings per share. Equities research analysts predict that U.S. Bancorp will post $3.44 EPS for the current year.
U.S. Bancorp declared that its Board of Directors has initiated a share repurchase plan on Wednesday, June 28th that allows the company to buyback $2.60 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.
A number of equities analysts recently weighed in on USB shares. Wells Fargo & Company started coverage on shares of U.S. Bancorp in a research note on Wednesday, August 9th. They issued a “market perform” rating and a $56.00 target price for the company. Jefferies Group LLC reaffirmed a “buy” rating and issued a $59.00 target price on shares of U.S. Bancorp in a research note on Friday, June 9th. BidaskClub lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Argus raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Thursday, July 20th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. U.S. Bancorp currently has a consensus rating of “Hold” and an average price target of $52.50.
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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