OLD Second National Bank of Aurora cut its stake in U.S. Bancorp (NYSE:USB) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,669 shares of the financial services provider’s stock after selling 300 shares during the period. U.S. Bancorp accounts for 1.5% of OLD Second National Bank of Aurora’s investment portfolio, making the stock its 17th largest position. OLD Second National Bank of Aurora’s holdings in U.S. Bancorp were worth $3,565,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the company. New England Asset Management Inc. raised its stake in U.S. Bancorp by 52.5% in the first quarter. New England Asset Management Inc. now owns 26,571,846 shares of the financial services provider’s stock valued at $1,368,451,000 after buying an additional 9,150,126 shares during the period. Alecta Pensionsforsakring Omsesidigt raised its stake in U.S. Bancorp by 1,130.0% in the first quarter. Alecta Pensionsforsakring Omsesidigt now owns 2,460,000 shares of the financial services provider’s stock valued at $126,690,000 after buying an additional 2,260,000 shares during the period. AQR Capital Management LLC raised its stake in U.S. Bancorp by 54.2% in the first quarter. AQR Capital Management LLC now owns 4,698,271 shares of the financial services provider’s stock valued at $241,961,000 after buying an additional 1,652,219 shares during the period. First Trust Advisors LP raised its stake in U.S. Bancorp by 276.0% in the first quarter. First Trust Advisors LP now owns 2,137,659 shares of the financial services provider’s stock valued at $110,089,000 after buying an additional 1,569,154 shares during the period. Finally, Karp Capital Management Corp purchased a new stake in U.S. Bancorp during the first quarter valued at $60,650,000. Institutional investors own 76.25% of the company’s stock.
U.S. Bancorp (NYSE:USB) traded up 0.530% on Friday, reaching $52.125. 1,260,601 shares of the company were exchanged. U.S. Bancorp has a 12-month low of $42.17 and a 12-month high of $56.61. The stock has a market capitalization of $87.19 billion, a P/E ratio of 15.748 and a beta of 0.86. The company’s 50-day moving average price is $52.40 and its 200-day moving average price is $52.50. U.S. Bancorp also was the target of some unusual options trading on Tuesday. Investors bought 9,229 put options on the stock. This is an increase of approximately 141% compared to the average daily volume of 3,837 put options.
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 business had revenue of $5.49 billion during 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 for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the firm posted $0.82 earnings per share. Equities research analysts anticipate that U.S. Bancorp will post $3.44 earnings per share for the current fiscal year.
U.S. Bancorp declared that its board has initiated a stock repurchase program on Wednesday, June 28th that authorizes the company to repurchase $2.60 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.
Several equities research analysts have weighed in on USB shares. Argus upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Thursday, July 20th. Wells Fargo & Company lowered shares of U.S. Bancorp from an “outperform” rating to a “market perform” rating and increased their target price 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. BidaskClub upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Jefferies Group LLC reiterated a “buy” rating and issued a $59.00 target price on shares of U.S. Bancorp in a report on Friday, June 9th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, July 19th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target 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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