Hamel Associates Inc. raised its stake in shares of U.S. Bancorp (NYSE:USB) by 1.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 126,392 shares of the financial services provider’s stock after buying an additional 1,650 shares during the quarter. U.S. Bancorp comprises 2.9% of Hamel Associates Inc.’s portfolio, making the stock its 9th biggest position. Hamel Associates Inc.’s holdings in U.S. Bancorp were worth $6,623,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Daily Journal Corp lifted its holdings in shares of U.S. Bancorp by 9,900.0% during the 2nd quarter. Daily Journal Corp now owns 14,000,000 shares of the financial services provider’s stock valued at $7,336,000 after purchasing an additional 13,860,000 shares in the last quarter. Alecta Pensionsforsakring Omsesidigt lifted its holdings in shares of U.S. Bancorp by 31.4% during the 1st quarter. Alecta Pensionsforsakring Omsesidigt now owns 5,440,000 shares of the financial services provider’s stock valued at $262,045,000 after purchasing an additional 1,300,000 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of U.S. Bancorp by 7.5% during the 4th quarter. Geode Capital Management LLC now owns 18,322,754 shares of the financial services provider’s stock valued at $835,766,000 after purchasing an additional 1,285,265 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of U.S. Bancorp by 40.2% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 3,974,817 shares of the financial services provider’s stock valued at $208,279,000 after purchasing an additional 1,140,289 shares in the last quarter. Finally, Hexavest Inc. bought a new position in shares of U.S. Bancorp during the 2nd quarter valued at about $53,342,000. Institutional investors own 75.50% of the company’s stock.

Shares of U.S. Bancorp stock traded up $0.26 on Wednesday, reaching $51.89. 108,809 shares of the company were exchanged, compared to its average volume of 6,251,457. U.S. Bancorp has a one year low of $43.14 and a one year high of $57.81. The company has a market capitalization of $82.38 billion, a price-to-earnings ratio of 12.66, a PEG ratio of 1.73 and a beta of 1.06. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.86. The company has a 50-day moving average of $54.09 and a 200 day moving average of $51.96.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. U.S. Bancorp had a return on equity of 15.45% and a net margin of 26.70%. The company had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.73 billion. During the same quarter in the prior year, the business posted $1.02 EPS. The business’s revenue was down 1.1% compared to the same quarter last year. Analysts predict that U.S. Bancorp will post 4.31 earnings per share for the current year.

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

Several research firms have recently weighed in on USB. Wedbush lifted their price objective on U.S. Bancorp from $46.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Macquarie cut U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $59.00 price objective on the stock. in a report on Thursday, August 1st. Deutsche Bank set a $59.00 price objective on U.S. Bancorp and gave the company a “hold” rating in a report on Friday, July 26th. JPMorgan Chase & Co. upgraded U.S. Bancorp from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $52.50 to $57.00 in a report on Wednesday, July 31st. Finally, Morgan Stanley lifted their price objective on U.S. Bancorp from $55.00 to $56.00 and gave the company an “underweight” rating in a report on Thursday, July 18th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $56.92.

In related news, Vice Chairman Shailesh M. Kotwal sold 20,000 shares of the business’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Vice Chairman Gillern Jeffry H. Von sold 9,428 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $55.25, for a total value of $520,897.00. Following the transaction, the insider now directly owns 94,658 shares in the company, valued at $5,229,854.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,414 shares of company stock worth $2,297,215. Company 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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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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