U.S. Bancorp (USB) Holdings Maintained by Lincoln Capital LLC
Lincoln Capital LLC continued to hold its stake in shares of U.S. Bancorp (NYSE:USB) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,419 shares of the financial services provider’s stock at the close of the second quarter. Lincoln Capital LLC’s holdings in U.S. Bancorp were worth $229,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. SRS Capital Advisors Inc. increased its position in shares of U.S. Bancorp by 17.0% during the 1st quarter. SRS Capital Advisors Inc. now owns 2,547 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 371 shares during the last quarter. Signature Estate & Investment Advisors LLC bought a new position in shares of U.S. Bancorp during the 1st quarter valued at about $155,000. Tradewinds Capital Management LLC increased its position in shares of U.S. Bancorp by 87.4% during the 1st quarter. Tradewinds Capital Management LLC now owns 3,663 shares of the financial services provider’s stock valued at $189,000 after purchasing an additional 1,708 shares during the last quarter. Hudock Capital Group LLC increased its position in shares of U.S. Bancorp by 0.4% during the 1st quarter. Hudock Capital Group LLC now owns 3,787 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 16 shares during the last quarter. Finally, Sunbelt Securities Inc. increased its position in shares of U.S. Bancorp by 41.7% during the 1st quarter. Sunbelt Securities Inc. now owns 3,912 shares of the financial services provider’s stock valued at $201,000 after purchasing an additional 1,151 shares during the last quarter. Hedge funds and other institutional investors own 73.97% of the company’s stock.
USB has been the topic of several recent research reports. 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, August 11th. BidaskClub upgraded U.S. Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. 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 research report on Thursday, July 20th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Finally, Robert W. Baird restated a “hold” rating and set a $48.00 price target on shares of U.S. Bancorp in a research report on Tuesday, September 5th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $52.50.
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, beating the consensus estimate of $0.84 by $0.01. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The firm had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. During the same quarter in the prior year, the business posted $0.82 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year.
U.S. Bancorp announced that its Board of Directors has approved a stock 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 buy up to 3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Thursday, September 28th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.28. U.S. Bancorp’s dividend payout ratio is currently 33.63%.
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About U.S. Bancorp
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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