YHB Investment Advisors Inc. raised its position in shares of U.S. Bancorp (NYSE:USB) by 3.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 124,660 shares of the financial services provider’s stock after acquiring an additional 4,521 shares during the period. YHB Investment Advisors Inc.’s holdings in U.S. Bancorp were worth $6,899,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Welch & Forbes LLC boosted its stake in U.S. Bancorp by 2.2% in the 3rd quarter. Welch & Forbes LLC now owns 318,980 shares of the financial services provider’s stock worth $17,652,000 after purchasing an additional 6,752 shares in the last quarter. First National Bank Sioux Falls lifted its position in U.S. Bancorp by 6.3% in the third quarter. First National Bank Sioux Falls now owns 4,407 shares of the financial services provider’s stock worth $243,000 after buying an additional 262 shares during the last quarter. Larson Financial Group LLC lifted its position in U.S. Bancorp by 232.5% in the third quarter. Larson Financial Group LLC now owns 1,403 shares of the financial services provider’s stock worth $78,000 after buying an additional 981 shares during the last quarter. Rockland Trust Co. lifted its position in U.S. Bancorp by 2.3% in the third quarter. Rockland Trust Co. now owns 17,587 shares of the financial services provider’s stock worth $933,000 after buying an additional 400 shares during the last quarter. Finally, Affiance Financial LLC bought a new stake in U.S. Bancorp in the third quarter worth $205,000. 75.50% of the stock is owned by institutional investors.
A number of analysts recently issued reports on USB shares. Credit Suisse Group restated a “hold” rating and issued a $55.00 price target on shares of U.S. Bancorp in a research report on Thursday, September 12th. Piper Jaffray Companies set a $59.00 target price on U.S. Bancorp and gave the stock a “buy” rating in a research note on Friday, September 13th. Deutsche Bank set a $59.00 target price on U.S. Bancorp and gave the stock a “hold” rating in a research note on Friday, July 26th. UBS Group increased their target price on U.S. Bancorp from $55.00 to $56.00 and gave the stock a “neutral” rating in a research note on Thursday, October 3rd. Finally, Macquarie lowered U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $59.00 target price on the stock. in a research note on Thursday, August 1st. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $56.31.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. The firm had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.73 billion. U.S. Bancorp had a return on equity of 15.45% and a net margin of 26.70%. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.02 earnings per share. Analysts forecast that U.S. Bancorp will post 4.3 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.68 annualized dividend and a dividend yield of 3.15%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.37. U.S. Bancorp’s dividend payout ratio (DPR) is currently 40.98%.
U.S. Bancorp declared that its Board of Directors has approved a stock repurchase plan on Thursday, June 27th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
In other news, EVP Mark G. Runkel sold 10,986 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $57.32, for a total transaction of $629,717.52. Following the transaction, the executive vice president now owns 45,213 shares in the company, valued at $2,591,609.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Vice Chairman Gillern Jeffry H. Von sold 9,428 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $55.25, for a total value of $520,897.00. Following the transaction, the insider now owns 94,658 shares in the company, valued at approximately $5,229,854.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,547 shares of company stock worth $2,862,231. Insiders own 0.24% of the company’s stock.
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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