U.S. Bancorp (USB) Shares Bought by Sii Investments Inc. WI
Sii Investments Inc. WI raised its stake in U.S. Bancorp (NYSE:USB) by 16.9% during the first quarter, Holdings Channel reports. The institutional investor owned 36,826 shares of the financial services provider’s stock after buying an additional 5,328 shares during the period. Sii Investments Inc. WI’s holdings in U.S. Bancorp were worth $1,894,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of USB. Orrstown Financial Services Inc. boosted its position in U.S. Bancorp by 26.9% in the first quarter. Orrstown Financial Services Inc. now owns 2,240 shares of the financial services provider’s stock valued at $116,000 after buying an additional 475 shares in the last quarter. SRS Capital Advisors Inc. boosted its position in U.S. Bancorp by 17.0% in the first quarter. SRS Capital Advisors Inc. now owns 2,547 shares of the financial services provider’s stock valued at $131,000 after buying an additional 371 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in U.S. Bancorp during the first quarter valued at $155,000. WealthTrust Arizona LLC boosted its position in U.S. Bancorp by 31.8% in the first quarter. WealthTrust Arizona LLC now owns 3,033 shares of the financial services provider’s stock valued at $156,000 after buying an additional 732 shares in the last quarter. Finally, American National Bank acquired a new position in U.S. Bancorp during the first quarter valued at $167,000. 75.84% of the stock is owned by institutional investors and hedge funds.
U.S. Bancorp (NYSE USB) traded down 0.63% during trading on Friday, reaching $52.05. The company’s stock had a trading volume of 4,448,688 shares. The stock has a market cap of $87.07 billion, a P/E ratio of 15.73 and a beta of 0.86. U.S. Bancorp has a 52-week low of $42.17 and a 52-week high of $56.61. The firm’s 50-day moving average is $52.32 and its 200-day moving average is $52.55.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same period in the previous year, the business earned $0.82 earnings per share. The firm’s quarterly revenue was up .7% on a year-over-year basis. Equities research analysts forecast that U.S. Bancorp will post $3.44 EPS for the current year.
U.S. Bancorp announced that its board has authorized a share repurchase plan on Wednesday, June 28th that allows the company to repurchase $2.60 billion in shares. This repurchase authorization allows the financial services provider to purchase up to 3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Monday, July 17th. Stockholders of record on Friday, June 30th were given a $0.28 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.15%. U.S. Bancorp’s payout ratio is 33.63%.
USB has been the subject of several research analyst reports. BidaskClub raised U.S. Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Jefferies Group LLC reissued a “buy” rating and set a $59.00 price objective on shares of U.S. Bancorp in a research report on Friday, June 9th. Argus raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Thursday, July 20th. Rafferty Capital Markets cut U.S. Bancorp from a “buy” rating to a “hold” rating and set a $53.00 price objective for the company. in a research report on Thursday, April 20th. Finally, Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $52.85.
In other news, Vice Chairman P.W. Parker sold 29,449 shares of U.S. Bancorp stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $51.94, for a total value of $1,529,581.06. Following the completion of the sale, the insider now directly owns 307,698 shares in the company, valued at $15,981,834.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.39% of the stock is currently owned by insiders.
About U.S. Bancorp
U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.
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