Griffin Asset Management Inc. lessened its stake in U.S. Bancorp (NYSE:USB) by 1.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 67,806 shares of the financial services provider’s stock after selling 1,255 shares during the quarter. Griffin Asset Management Inc.’s holdings in U.S. Bancorp were worth $3,392,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. SVA Plumb Wealth Management LLC raised its holdings in shares of U.S. Bancorp by 0.7% during the first quarter. SVA Plumb Wealth Management LLC now owns 141,200 shares of the financial services provider’s stock valued at $7,567,000 after acquiring an additional 980 shares during the last quarter. EagleClaw Capital Managment LLC raised its holdings in shares of U.S. Bancorp by 22.2% during the first quarter. EagleClaw Capital Managment LLC now owns 5,500 shares of the financial services provider’s stock valued at $279,000 after acquiring an additional 1,000 shares during the last quarter. Field & Main Bank raised its holdings in shares of U.S. Bancorp by 49.9% during the second quarter. Field & Main Bank now owns 3,004 shares of the financial services provider’s stock valued at $159,000 after acquiring an additional 1,000 shares during the last quarter. Auxier Asset Management raised its holdings in shares of U.S. Bancorp by 8.6% during the second quarter. Auxier Asset Management now owns 12,660 shares of the financial services provider’s stock valued at $633,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Homrich & Berg raised its holdings in shares of U.S. Bancorp by 2.9% during the second quarter. Homrich & Berg now owns 35,620 shares of the financial services provider’s stock valued at $1,782,000 after acquiring an additional 1,018 shares during the last quarter. 74.29% of the stock is owned by institutional investors and hedge funds.
USB has been the subject of a number of research analyst reports. ValuEngine raised U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, July 26th. Zacks Investment Research cut U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, September 25th. Finally, Wedbush reissued a “neutral” rating on shares of U.S. Bancorp in a report on Monday, July 23rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. U.S. Bancorp has an average rating of “Hold” and a consensus target price of $58.91.
In other news, Vice Chairman John R. Elmore sold 58,924 shares of the company’s stock in a transaction that occurred on Monday, July 23rd. The stock was sold at an average price of $51.71, for a total value of $3,046,960.04. Following the completion of the sale, the insider now directly owns 98,371 shares in the company, valued at $5,086,764.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.43% of the stock is owned by corporate insiders.
Shares of USB stock traded down $0.20 during trading hours on Friday, reaching $53.48. The company had a trading volume of 5,202,643 shares, compared to its average volume of 6,748,246. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.83 and a quick ratio of 0.82. The firm has a market capitalization of $86.03 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 1.73 and a beta of 0.98. U.S. Bancorp has a 12-month low of $48.49 and a 12-month high of $58.50.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Wednesday, July 18th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.01. The business had revenue of $5.64 billion during the quarter, compared to analyst estimates of $5.64 billion. U.S. Bancorp had a return on equity of 14.66% and a net margin of 26.96%. The business’s revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.25 earnings per share. On average, equities research analysts expect that U.S. Bancorp will post 4.07 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Friday, September 28th will be given a $0.37 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.30. This represents a $1.48 dividend on an annualized basis and a dividend yield of 2.77%. U.S. Bancorp’s dividend payout ratio is 43.27%.
U.S. Bancorp Company Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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