Wedbush Securities Inc. Has $2.40 Million Holdings in U.S. Bancorp (NYSE:USB)

Wedbush Securities Inc. grew its holdings in shares of U.S. Bancorp (NYSE:USB) by 2.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,796 shares of the financial services provider’s stock after purchasing an additional 918 shares during the period. Wedbush Securities Inc.’s holdings in U.S. Bancorp were worth $2,400,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in USB. Trustcore Financial Services LLC bought a new position in U.S. Bancorp in the 1st quarter valued at approximately $28,000. Manchester Financial Inc. bought a new position in U.S. Bancorp in the 2nd quarter valued at approximately $30,000. Catamount Wealth Management lifted its stake in U.S. Bancorp by 525.0% in the 1st quarter. Catamount Wealth Management now owns 750 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 630 shares during the last quarter. New Potomac Partners LLC bought a new position in U.S. Bancorp in the 1st quarter valued at approximately $37,000. Finally, CNB Bank lifted its stake in U.S. Bancorp by 161.0% in the 1st quarter. CNB Bank now owns 783 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 483 shares during the last quarter. Hedge funds and other institutional investors own 75.55% of the company’s stock.

In related news, Vice Chairman Gillern Jeffry H. Von sold 9,428 shares of U.S. Bancorp stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $55.25, for a total transaction of $520,897.00. Following the completion of the transaction, the insider now owns 94,658 shares of the company’s stock, valued at $5,229,854.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman Shailesh M. Kotwal sold 20,000 shares of U.S. Bancorp stock in a transaction on Monday, July 29th. The stock was sold at an average price of $57.33, for a total transaction of $1,146,600.00. Following the transaction, the insider now directly owns 65,959 shares of the company’s stock, valued at approximately $3,781,429.47. The disclosure for this sale can be found here. Insiders have sold 40,414 shares of company stock valued at $2,297,215 in the last ninety days. Insiders own 0.24% of the company’s stock.



USB has been the subject of several research reports. Deutsche Bank set a $59.00 price objective on shares of U.S. Bancorp and gave the company a “hold” rating in a research note on Friday, July 26th. Bank of America raised shares of U.S. Bancorp from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $49.00 to $55.00 in a research note on Thursday, July 18th. Morgan Stanley increased their price objective on shares of U.S. Bancorp from $55.00 to $56.00 and gave the company an “underweight” rating in a research note on Thursday, July 18th. Wedbush increased their price objective on shares of U.S. Bancorp from $46.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Finally, Zacks Investment Research downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, April 15th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $56.92.

Shares of USB stock traded up $0.66 during trading hours on Tuesday, hitting $52.90. 332,845 shares of the company’s stock traded hands, compared to its average volume of 6,453,498. The firm has a 50 day moving average price of $54.12. The stock has a market cap of $83.19 billion, a PE ratio of 12.90, a PEG ratio of 1.75 and a beta of 1.06. U.S. Bancorp has a 12 month low of $43.14 and a 12 month high of $57.81. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.86.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.07 by $0.02. The firm had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.73 billion. U.S. Bancorp had a net margin of 26.70% and a return on equity of 15.45%. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.02 earnings per share. Equities analysts forecast that U.S. Bancorp will post 4.31 earnings per share for the current fiscal year.

U.S. Bancorp declared that its Board of Directors has authorized a share repurchase program on Thursday, June 27th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 3.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.80%. The ex-dividend date was Thursday, June 27th. U.S. Bancorp’s payout ratio is currently 36.10%.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in 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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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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