U.S. Bancorp (NYSE:USB) Stake Lifted by Sittner & Nelson LLC

Sittner & Nelson LLC increased its stake in shares of U.S. Bancorp (NYSE:USB) by 18.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 19,164 shares of the financial services provider’s stock after acquiring an additional 3,007 shares during the period. Sittner & Nelson LLC’s holdings in U.S. Bancorp were worth $1,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of USB. JPMorgan Chase & Co. grew its stake in shares of U.S. Bancorp by 54.6% in the first quarter. JPMorgan Chase & Co. now owns 36,167,368 shares of the financial services provider’s stock worth $2,000,417,000 after purchasing an additional 12,779,463 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of U.S. Bancorp by 2.8% in the first quarter. Geode Capital Management LLC now owns 21,438,355 shares of the financial services provider’s stock worth $1,182,720,000 after purchasing an additional 589,802 shares in the last quarter. Davis Selected Advisers grew its stake in shares of U.S. Bancorp by 7.7% in the first quarter. Davis Selected Advisers now owns 18,170,271 shares of the financial services provider’s stock worth $1,004,998,000 after purchasing an additional 1,296,831 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of U.S. Bancorp by 5.4% in the second quarter. Bank of New York Mellon Corp now owns 13,436,088 shares of the financial services provider’s stock worth $765,453,000 after purchasing an additional 686,764 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in shares of U.S. Bancorp by 22.2% in the first quarter. Ameriprise Financial Inc. now owns 12,478,633 shares of the financial services provider’s stock worth $690,275,000 after purchasing an additional 2,267,492 shares in the last quarter. Hedge funds and other institutional investors own 73.80% of the company’s stock.

USB stock traded up $1.22 during mid-day trading on Thursday, hitting $59.14. The stock had a trading volume of 149,036 shares, compared to its average volume of 6,605,710. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 0.76. U.S. Bancorp has a 1-year low of $34.17 and a 1-year high of $62.47. The company has a fifty day moving average of $56.59 and a 200 day moving average of $57.29. The stock has a market capitalization of $87.68 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 1.71 and a beta of 1.14.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, July 14th. The financial services provider reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.14. U.S. Bancorp had a return on equity of 15.18% and a net margin of 29.83%. The company had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.62 billion. During the same period in the prior year, the firm posted $0.41 EPS. The business’s revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts expect that U.S. Bancorp will post 5 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Thursday, September 30th will be issued a dividend of $0.46 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.42. The ex-dividend date is Wednesday, September 29th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.11%. U.S. Bancorp’s dividend payout ratio is currently 54.90%.

USB has been the subject of several research analyst reports. Morgan Stanley upped their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the company an “equal weight” rating in a report on Thursday, July 29th. Credit Suisse Group upped their price objective on U.S. Bancorp from $60.00 to $61.00 and gave the company a “neutral” rating in a report on Wednesday. Citigroup upped their price objective on U.S. Bancorp from $66.00 to $70.00 and gave the company a “buy” rating in a report on Thursday. Oppenheimer upped their target price on U.S. Bancorp from $70.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, July 16th. Finally, Odeon Capital Group downgraded U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Monday, July 19th. Six analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, U.S. Bancorp presently has a consensus rating of “Buy” and a consensus target price of $62.77.

U.S. Bancorp Company Profile

U.S. Bancorp operates as a bank holding company, which offers financial services including lending and depository services, cash management, foreign exchange and trust and investment management. The firm also offers mortgage, refinance, auto, boat and RV loans, credit lines, credit card services, merchant, bank, checking and savings accounts, debit cards, online and mobile banking, ATM processing, mortgage banking, insurance, brokerage and leasing services.

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

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