Whittier Trust Co. of Nevada Inc. raised its stake in U.S. Bancorp (NYSE:USB) by 0.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,189 shares of the financial services provider’s stock after buying an additional 23 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in U.S. Bancorp were worth $736,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in the company. Orrstown Financial Services Inc. boosted its position in shares of 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 during the last quarter. SRS Capital Advisors Inc. boosted its position in shares of 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 during the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in shares of U.S. Bancorp during the first quarter valued at approximately $155,000. WealthTrust Arizona LLC boosted its position in shares of 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 during the last quarter. Finally, American National Bank purchased a new position in shares of U.S. Bancorp during the first quarter valued at approximately $167,000. 76.25% of the stock is currently owned by institutional investors.
U.S. Bancorp (NYSE USB) opened at 51.68 on Friday. The company has a market cap of $86.45 billion, a price-to-earnings ratio of 15.61 and a beta of 0.86. U.S. Bancorp has a 12 month low of $42.17 and a 12 month high of $56.61. The company’s 50-day moving average is $52.47 and its 200-day moving average is $52.54.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 EPS for the quarter, beating the consensus estimate of $0.84 by $0.01. The firm had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.46 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The company’s revenue was up .7% on a year-over-year basis. During the same period in the prior year, the company earned $0.82 EPS. On average, equities research analysts anticipate that U.S. Bancorp will post $3.44 earnings per share for the current year.
U.S. Bancorp declared that its Board of Directors has approved a stock repurchase plan on Wednesday, June 28th that permits the company to buyback $2.60 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its shares are undervalued.
Several analysts recently commented on USB shares. Jefferies Group LLC restated a “buy” rating and set a $59.00 price target on shares of U.S. Bancorp in a report on Friday, August 11th. BidaskClub upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Argus upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a report on Thursday, July 20th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, July 19th. Finally, Wells Fargo & Company cut shares of U.S. Bancorp from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $38.48 to $52.31 in a report on Thursday, May 4th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $52.85.
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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