Rosenbaum Jay D. lessened its position in shares of U.S. Bancorp (NYSE:USB) by 2.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,435 shares of the financial services provider’s stock after selling 455 shares during the period. U.S. Bancorp comprises 2.1% of Rosenbaum Jay D.’s investment portfolio, making the stock its 20th biggest holding. Rosenbaum Jay D.’s holdings in U.S. Bancorp were worth $1,124,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of USB. Trustcore Financial Services LLC acquired a new position in shares of U.S. Bancorp in the 1st quarter valued at $28,000. Manchester Financial Inc. purchased a new stake in U.S. Bancorp in the 2nd quarter valued at $30,000. Catamount Wealth Management raised its position 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 purchased a new stake in U.S. Bancorp in the 1st quarter valued at $37,000. Finally, CNB Bank raised its position 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. Institutional investors own 75.55% of the company’s stock.
Several analysts recently commented on USB shares. JPMorgan Chase & Co. upgraded shares of U.S. Bancorp from an “underweight” rating to a “neutral” rating and upped their price target for the company from $52.50 to $57.00 in a research report on Wednesday, July 31st. Bank of America upgraded shares of U.S. Bancorp from an “underperform” rating to a “neutral” rating and upped their price target for the company from $49.00 to $55.00 in a research report on Thursday, July 18th. Morgan Stanley upped their price target on shares of U.S. Bancorp from $55.00 to $56.00 and gave the company an “underweight” rating in a research report on Thursday, July 18th. Macquarie downgraded shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $59.00 price target for the company. in a research report on Thursday, August 1st. Finally, Deutsche Bank set a $59.00 price target on shares of U.S. Bancorp and gave the company a “hold” rating in a research report on Friday, July 26th. Three 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’s stock. The company presently has an average rating of “Hold” and an average price target of $56.92.
U.S. Bancorp stock traded up $0.44 during trading hours on Thursday, reaching $51.34. 218,200 shares of the stock were exchanged, compared to its average volume of 6,377,645. The stock has a market capitalization of $82.31 billion, a PE ratio of 12.50, a P/E/G ratio of 1.73 and a beta of 1.06. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.83 and a current ratio of 0.84. U.S. Bancorp has a 52-week low of $43.14 and a 52-week high of $57.81. The company’s 50 day moving average price is $54.11.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.09 EPS for the quarter, topping the Zacks’ consensus estimate of $1.07 by $0.02. The company 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%. U.S. Bancorp’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.02 EPS. Equities research analysts anticipate 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 approved a share buyback 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 stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
In other U.S. Bancorp news, EVP Mark G. Runkel sold 10,986 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $57.32, for a total transaction of $629,717.52. Following the completion of the transaction, the executive vice president now owns 45,213 shares in the company, valued at approximately $2,591,609.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman Shailesh M. Kotwal sold 20,000 shares of the company’s 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 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. In the last 90 days, insiders have sold 40,414 shares of company stock valued at $2,297,215. 0.24% of the stock is owned by insiders.
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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