U.S. Bancorp (USB) Stake Lowered by Trust Department MB Financial Bank N A
Trust Department MB Financial Bank N A reduced its holdings in U.S. Bancorp (NYSE:USB) by 9.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,808 shares of the financial services provider’s stock after selling 420 shares during the quarter. Trust Department MB Financial Bank N A’s holdings in U.S. Bancorp were worth $198,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Shelton Capital Management lifted its holdings in shares of U.S. Bancorp by 51.2% in the 1st quarter. Shelton Capital Management now owns 133,200 shares of the financial services provider’s stock valued at $6,860,000 after buying an additional 45,116 shares during the period. Bank of Montreal Can lifted its holdings in shares of U.S. Bancorp by 2.6% in the 2nd quarter. Bank of Montreal Can now owns 6,171,700 shares of the financial services provider’s stock valued at $320,434,000 after buying an additional 159,319 shares during the period. Investment Partners Ltd. OH ADV lifted its holdings in shares of U.S. Bancorp by 33.6% in the 1st quarter. Investment Partners Ltd. OH ADV now owns 8,054 shares of the financial services provider’s stock valued at $415,000 after buying an additional 2,024 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in shares of U.S. Bancorp by 13.1% in the 1st quarter. Stratos Wealth Partners LTD. now owns 40,541 shares of the financial services provider’s stock valued at $2,088,000 after buying an additional 4,683 shares during the period. Finally, TIAA CREF Investment Management LLC lifted its holdings in shares of U.S. Bancorp by 1.1% in the 1st quarter. TIAA CREF Investment Management LLC now owns 6,968,670 shares of the financial services provider’s stock valued at $358,887,000 after buying an additional 73,504 shares during the period. 73.97% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently commented on the company. Jefferies Group LLC reissued a “buy” rating and issued a $59.00 price target on shares of U.S. Bancorp in a report on Friday, August 11th. BidaskClub cut U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Robert W. Baird reaffirmed a “hold” rating and set a $48.00 price objective on shares of U.S. Bancorp in a report on Tuesday, September 5th. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, July 19th. Finally, Wells Fargo & Company started coverage on U.S. Bancorp in a report on Wednesday, August 9th. They set a “market perform” rating and a $56.00 price objective for the company. Two investment 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 an average rating of “Hold” and an average price target of $53.08.
U.S. Bancorp (NYSE USB) traded down 0.34% during trading on Monday, reaching $53.49. The company’s stock had a trading volume of 1,756,066 shares. The firm has a 50-day moving average price of $52.00 and a 200-day moving average price of $52.08. The firm has a market capitalization of $89.48 billion, a P/E ratio of 16.16 and a beta of 0.87. U.S. Bancorp has a 52 week low of $42.17 and a 52 week high of $56.61.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. The company’s quarterly revenue was up .7% compared to the same quarter last year. On average, equities analysts anticipate that U.S. Bancorp will post $3.43 EPS for the current fiscal year.
U.S. Bancorp announced that its Board of Directors has approved a share repurchase plan on Wednesday, June 28th that authorizes the company to buyback $2.60 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Thursday, September 28th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.28. U.S. Bancorp’s dividend payout ratio is 33.63%.
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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