U.S. Bancorp (USB) Position Held by Supplemental Annuity Collective Trust of NJ
Supplemental Annuity Collective Trust of NJ maintained its stake in shares of U.S. Bancorp (NYSE:USB) during the 2nd quarter, according to its most recent filing with the SEC. The fund owned 25,571 shares of the financial services provider’s stock at the end of the 2nd quarter. Supplemental Annuity Collective Trust of NJ’s holdings in U.S. Bancorp were worth $1,328,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the stock. SRS Capital Advisors Inc. raised its position in 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. Orrstown Financial Services Inc. raised its position in U.S. Bancorp by 30.4% during the 2nd quarter. Orrstown Financial Services Inc. now owns 2,921 shares of the financial services provider’s stock valued at $152,000 after purchasing an additional 681 shares during the last quarter. Signature Estate & Investment Advisors LLC bought a new position in U.S. Bancorp during the 1st quarter valued at approximately $155,000. Tradewinds Capital Management LLC raised its position in 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. Finally, Hudock Capital Group LLC raised its position in 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. Institutional investors own 73.97% of the company’s stock.
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A number of research analysts have commented on USB shares. BidaskClub lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. Jefferies Group LLC reaffirmed 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 U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Thursday, July 20th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $48.00 price target on shares of U.S. Bancorp in a research report on Tuesday, September 5th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $53.08.
U.S. Bancorp (NYSE USB) opened at 53.67 on Friday. The stock has a 50 day moving average price of $52.00 and a 200 day moving average price of $52.08. The company has a market cap of $89.78 billion, a price-to-earnings ratio of 16.21 and a beta of 0.87. 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 announced its quarterly earnings results 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 analyst estimates of $5.46 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. U.S. Bancorp’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.82 earnings per share. Analysts anticipate that U.S. Bancorp will post $3.43 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be issued a $0.30 dividend. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.24%. U.S. Bancorp’s payout ratio is presently 33.63%.
U.S. Bancorp declared that its Board of Directors has approved a share repurchase program on Wednesday, June 28th that allows the company to repurchase $2.60 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.
U.S. Bancorp 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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