First Command Bank raised its position in shares of U.S. Bancorp (NYSE:USB) by 42.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,864 shares of the financial services provider’s stock after acquiring an additional 2,340 shares during the period. First Command Bank’s holdings in U.S. Bancorp were worth $409,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of USB. Waldron LP bought a new position in U.S. Bancorp during the first quarter valued at $323,000. Manchester Capital Management LLC increased its position in U.S. Bancorp by 5.2% during the first quarter. Manchester Capital Management LLC now owns 6,038 shares of the financial services provider’s stock valued at $311,000 after acquiring an additional 300 shares during the last quarter. D. Scott Neal Inc. increased its position in U.S. Bancorp by 0.5% during the first quarter. D. Scott Neal Inc. now owns 7,488 shares of the financial services provider’s stock valued at $386,000 after acquiring an additional 36 shares during the last quarter. Sit Investment Associates Inc. increased its position in U.S. Bancorp by 53.9% during the first quarter. Sit Investment Associates Inc. now owns 787,440 shares of the financial services provider’s stock valued at $40,553,000 after acquiring an additional 275,825 shares during the last quarter. Finally, Mycio Wealth Partners LLC bought a new position in U.S. Bancorp during the first quarter valued at $258,000. Institutional investors and hedge funds own 74.21% of the company’s stock.
U.S. Bancorp (NYSE USB) traded up 0.33% during mid-day trading on Friday, reaching $51.81. 6,146,008 shares of the company were exchanged. The stock’s 50-day moving average price is $52.00 and its 200-day moving average price is $52.17. The stock has a market capitalization of $86.67 billion, a price-to-earnings ratio of 15.65 and a beta of 0.87. U.S. Bancorp has a 1-year low of $42.17 and a 1-year high of $56.61.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.01. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the company earned $0.82 EPS. On average, equities research analysts anticipate that U.S. Bancorp will post $3.44 EPS for the current fiscal year.
U.S. Bancorp declared that its board has authorized a stock repurchase plan on Wednesday, June 28th that permits the company to repurchase $2.60 billion in shares. This repurchase authorization permits the financial services provider to repurchase up to 3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
USB has been the topic of a number of analyst reports. Jefferies Group LLC reiterated a “buy” rating and set a $59.00 price objective on shares of U.S. Bancorp in a research report on Friday, June 9th. BidaskClub upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Argus upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research report on Thursday, July 20th. Finally, Wells Fargo & Company initiated coverage on shares of U.S. Bancorp in a research report on Wednesday, August 9th. They set a “market perform” rating and a $56.00 price objective on the stock. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $52.50.
U.S. Bancorp Profile
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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