Mogy Joel R Investment Counsel Inc. lowered its position in shares of U.S. Bancorp (NYSE:USB) by 14.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,959 shares of the financial services provider’s stock after selling 1,700 shares during the period. Mogy Joel R Investment Counsel Inc.’s holdings in U.S. Bancorp were worth $517,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Shelton Capital Management raised its stake in shares of U.S. Bancorp by 51.2% during the first quarter. Shelton Capital Management now owns 133,200 shares of the financial services provider’s stock valued at $6,860,000 after purchasing an additional 45,116 shares during the period. Bank of Montreal Can raised its stake in shares of U.S. Bancorp by 2.6% during the second quarter. Bank of Montreal Can now owns 6,171,700 shares of the financial services provider’s stock valued at $320,434,000 after purchasing an additional 159,319 shares during the period. Stratos Wealth Partners LTD. raised its stake in shares of U.S. Bancorp by 13.1% during the first quarter. Stratos Wealth Partners LTD. now owns 40,541 shares of the financial services provider’s stock valued at $2,088,000 after purchasing an additional 4,683 shares during the period. TIAA CREF Investment Management LLC raised its stake in shares of U.S. Bancorp by 1.1% during the first 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 purchasing an additional 73,504 shares during the period. Finally, New England Asset Management Inc. raised its stake in shares of U.S. Bancorp by 52.5% during the first quarter. New England Asset Management Inc. now owns 26,571,846 shares of the financial services provider’s stock valued at $1,368,451,000 after purchasing an additional 9,150,126 shares during the period. Institutional investors own 73.95% of the company’s stock.

U.S. Bancorp (NYSE:USB) opened at 53.27 on Thursday. The firm has a 50-day moving average of $52.82 and a 200-day moving average of $52.09. U.S. Bancorp has a 12-month low of $43.50 and a 12-month high of $56.61. The firm has a market cap of $89.11 billion, a P/E ratio of 16.09 and a beta of 0.87.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.88. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The firm had revenue of $5.61 billion during the quarter, compared to analyst estimates of $5.60 billion. During the same period in the prior year, the company posted $0.84 earnings per share. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, analysts expect that U.S. Bancorp will post $3.42 EPS for the current year.

U.S. Bancorp declared that its board has initiated a stock repurchase program on Wednesday, June 28th that authorizes the company to buyback $2.60 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were paid a dividend of $0.30 per share. 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 yield of 2.25%. The ex-dividend date was Thursday, September 28th. U.S. Bancorp’s dividend payout ratio is currently 36.04%.

A number of analysts have recently issued reports on USB shares. Citigroup Inc. reiterated a “neutral” rating and set a $58.00 price objective (up previously from $53.00) on shares of U.S. Bancorp in a research note on Monday, October 9th. BidaskClub lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th. Jefferies Group LLC restated a “buy” rating and issued a $62.00 price target on shares of U.S. Bancorp in a research note on Thursday, October 12th. Argus upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research note on Thursday, July 20th. Finally, Nomura lowered shares of U.S. Bancorp from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $57.00 to $55.00 in a research note on Thursday, September 28th. Four analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the stock. U.S. Bancorp has an average rating of “Hold” and a consensus target price of $53.56.

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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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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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