U.S. Bancorp (USB) Stake Maintained by Outfitter Advisors LTD.
Outfitter Advisors LTD. continued to hold its position in shares of U.S. Bancorp (NYSE:USB) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,669 shares of the financial services provider’s stock at the close of the 2nd quarter. Outfitter Advisors LTD.’s holdings in U.S. Bancorp were worth $346,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in the company. BSW Wealth Partners grew its holdings in shares of U.S. Bancorp by 0.6% during the first quarter. BSW Wealth Partners now owns 3,973 shares of the financial services provider’s stock worth $205,000 after purchasing an additional 23 shares during the last quarter. First National Bank of Hutchinson boosted its holdings in U.S. Bancorp by 0.3% in the second quarter. First National Bank of Hutchinson now owns 10,838 shares of the financial services provider’s stock valued at $576,000 after acquiring an additional 32 shares during the last quarter. D. Scott Neal Inc. boosted its holdings in U.S. Bancorp by 0.5% in the second quarter. D. Scott Neal Inc. now owns 7,524 shares of the financial services provider’s stock valued at $391,000 after acquiring an additional 36 shares during the last quarter. Green Square Capital LLC boosted its holdings in U.S. Bancorp by 0.4% in the first quarter. Green Square Capital LLC now owns 11,322 shares of the financial services provider’s stock valued at $586,000 after acquiring an additional 41 shares during the last quarter. Finally, Smith Moore & CO. boosted its holdings in U.S. Bancorp by 0.4% in the first quarter. Smith Moore & CO. now owns 13,586 shares of the financial services provider’s stock valued at $700,000 after acquiring an additional 51 shares during the last quarter. Institutional investors own 73.97% of the company’s stock.
USB has been the topic of several analyst reports. Citigroup Inc. reiterated a “neutral” rating and issued a $58.00 target price (up from $53.00) on shares of U.S. Bancorp in a report on Monday. BidaskClub cut U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. Jefferies Group LLC reiterated a “buy” rating and issued a $62.00 target price on shares of U.S. Bancorp in a report on Thursday. Argus upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Thursday, July 20th. Finally, Nomura cut U.S. Bancorp from a “buy” rating to a “neutral” rating and reduced their target price for the company from $57.00 to $55.00 in a report on Thursday, September 28th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $53.56.
U.S. Bancorp (USB) opened at 54.26 on Thursday. The firm has a market capitalization of $90.76 billion, a price-to-earnings ratio of 16.39 and a beta of 0.87. U.S. Bancorp has a 52 week low of $42.37 and a 52 week high of $56.61. The firm has a 50-day moving average price of $52.53 and a 200 day moving average price of $52.03.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.46 billion. During the same period in the previous year, the company posted $0.82 earnings per share. The firm’s revenue was up .7% on a year-over-year basis. On average, equities research analysts forecast that U.S. Bancorp will post $3.42 earnings per share for the current fiscal year.
U.S. Bancorp announced that its board has authorized a stock buyback plan on Wednesday, June 28th that permits the company to buyback $2.60 billion in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
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 given a dividend of $0.30 per share. 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. This represents a $1.20 annualized dividend and a dividend yield of 2.21%. U.S. Bancorp’s payout ratio is currently 36.04%.
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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