Highland Capital Management LLC Has $2.84 Million Holdings in U.S. Bancorp (NYSE:USB)

Highland Capital Management LLC lessened its position in shares of U.S. Bancorp (NYSE:USB) by 0.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 63,469 shares of the financial services provider’s stock after selling 483 shares during the quarter. Highland Capital Management LLC’s holdings in U.S. Bancorp were worth $2,837,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. CGC Financial Services LLC acquired a new stake in shares of U.S. Bancorp during the 4th quarter worth approximately $25,000. BKM Wealth Management LLC acquired a new stake in shares of U.S. Bancorp during the 4th quarter worth approximately $26,000. Planned Solutions Inc. bought a new position in shares of U.S. Bancorp in the 4th quarter worth $27,000. Naples Money Management LLC bought a new position in shares of U.S. Bancorp in the 4th quarter worth $30,000. Finally, Financial Synergies Wealth Advisors Inc. bought a new position in shares of U.S. Bancorp in the 1st quarter worth $30,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

USB traded up $0.17 during trading hours on Friday, hitting $42.10. The stock had a trading volume of 8,322,179 shares, compared to its average volume of 7,126,669. The company’s fifty day simple moving average is $40.16 and its 200 day simple moving average is $41.45. U.S. Bancorp has a 1 year low of $30.47 and a 1 year high of $45.85. The stock has a market cap of $65.70 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 4.09 and a beta of 1.04. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.01. The business had revenue of $6.72 billion during the quarter, compared to analyst estimates of $6.71 billion. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.16 EPS. Equities analysts anticipate that U.S. Bancorp will post 3.83 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date of this dividend is Friday, June 28th. U.S. Bancorp’s payout ratio is presently 64.90%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on USB shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $47.00 target price on shares of U.S. Bancorp in a report on Thursday, May 16th. UBS Group cut their target price on U.S. Bancorp from $47.00 to $43.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Compass Point upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and increased their target price for the stock from $46.00 to $49.00 in a report on Friday, March 22nd. Jefferies Financial Group cut their target price on U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Finally, JPMorgan Chase & Co. cut U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective on the stock. in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $45.84.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.