Opus Capital Group LLC Sells 1,517 Shares of U.S. Bancorp (NYSE:USB)
Opus Capital Group LLC lessened its position in shares of U.S. Bancorp (NYSE:USB) by 11.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,340 shares of the financial services provider’s stock after selling 1,517 shares during the period. Opus Capital Group LLC’s holdings in U.S. Bancorp were worth $627,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Vantage Consulting Group Inc bought a new position in U.S. Bancorp during the 4th quarter worth about $27,000. Field & Main Bank bought a new position in shares of U.S. Bancorp in the 4th quarter valued at about $27,000. Salem Investment Counselors Inc. grew its holdings in shares of U.S. Bancorp by 92.3% in the 4th quarter. Salem Investment Counselors Inc. now owns 600 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 288 shares in the last quarter. Diversified LLC bought a new position in shares of U.S. Bancorp in the 4th quarter valued at about $28,000. Finally, Mascoma Wealth Management LLC bought a new position in shares of U.S. Bancorp in the 1st quarter valued at about $44,000. Hedge funds and other institutional investors own 71.73% of the company’s stock.
Several brokerages have recently weighed in on USB. JPMorgan Chase & Co. raised their price objective on U.S. Bancorp from $60.00 to $64.50 and gave the company an “overweight” rating in a report on Monday. Stephens raised their target price on shares of U.S. Bancorp from $52.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, March 30th. Citigroup raised their target price on shares of U.S. Bancorp from $63.00 to $65.00 in a research note on Wednesday, April 21st. Bank of America upgraded shares of U.S. Bancorp from an “underperform” rating to a “neutral” rating and raised their target price for the company from $58.00 to $62.00 in a research note on Monday, April 19th. Finally, Barclays raised their target price on shares of U.S. Bancorp from $61.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, April 7th. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $56.15.
U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, April 14th. The financial services provider reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.49. The firm had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.53 billion. U.S. Bancorp had a net margin of 18.68% and a return on equity of 10.99%. The company’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 earnings per share. On average, equities research analysts anticipate that U.S. Bancorp will post 3.06 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 15th. Investors of record on Wednesday, March 31st were paid a $0.42 dividend. The ex-dividend date of this dividend was Tuesday, March 30th. This represents a $1.68 annualized dividend and a dividend yield of 2.83%. U.S. Bancorp’s dividend payout ratio is 38.71%.
In related news, CFO Terrance R. Dolan sold 19,149 shares of the business’s stock in a transaction on Friday, April 30th. The shares were sold at an average price of $59.11, for a total value of $1,131,897.39. Following the sale, the chief financial officer now owns 138,374 shares of the company’s stock, valued at $8,179,287.14. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Mark G. Runkel sold 9,058 shares of the business’s stock in a transaction on Wednesday, April 21st. The stock was sold at an average price of $56.85, for a total transaction of $514,947.30. Following the completion of the sale, the executive vice president now directly owns 36,572 shares in the company, valued at approximately $2,079,118.20. The disclosure for this sale can be found here. In the last three months, insiders sold 251,779 shares of company stock worth $14,319,060. 0.23% of the stock is currently owned by insiders.
About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments. The company offers depository services, including checking accounts, savings accounts, and time certificate contracts; lending services, such as traditional credit products; and credit card services, lease financing and import/export trade, asset-backed lending, agricultural finance, and other products.
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