Centaurus Financial Inc. acquired a new stake in U.S. Bancorp (NYSE:USB) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 5,057 shares of the financial services provider’s stock, valued at approximately $253,000.
Several other large investors have also made changes to their positions in the company. Clearwater Capital Advisors LLC acquired a new position in U.S. Bancorp during the 1st quarter worth approximately $100,000. Horan Capital Management acquired a new position in U.S. Bancorp during the 2nd quarter worth approximately $109,000. Well Done LLC acquired a new position in U.S. Bancorp during the 1st quarter worth approximately $117,000. Integrated Investment Consultants LLC acquired a new position in U.S. Bancorp during the 2nd quarter worth approximately $135,000. Finally, Mount Yale Investment Advisors LLC acquired a new position in U.S. Bancorp during the 1st quarter worth approximately $141,000. 74.29% of the stock is currently owned by institutional investors.
A number of research analysts recently weighed in on USB shares. ValuEngine downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, July 2nd. Wedbush reaffirmed a “neutral” rating on shares of U.S. Bancorp in a research note on Monday, July 23rd. Zacks Investment Research raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research note on Tuesday, September 18th. Finally, Macquarie raised U.S. Bancorp from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $56.00 to $62.00 in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $59.72.
In other U.S. Bancorp news, Vice Chairman John R. Elmore sold 58,924 shares of the stock in a transaction on Monday, July 23rd. The stock was sold at an average price of $51.71, for a total transaction of $3,046,960.04. Following the completion of the transaction, the insider now directly owns 98,371 shares of the company’s stock, valued at $5,086,764.41. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.43% of the stock is currently owned by corporate insiders.
NYSE USB traded down $1.03 on Friday, hitting $50.79. 12,592,021 shares of the stock traded hands, compared to its average volume of 6,813,398. U.S. Bancorp has a 12 month low of $48.49 and a 12 month high of $58.50. The firm has a market cap of $86.03 billion, a price-to-earnings ratio of 14.85, a price-to-earnings-growth ratio of 1.73 and a beta of 0.98. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.83.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 18th. The financial services provider reported $1.02 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.01. U.S. Bancorp had a return on equity of 14.66% and a net margin of 26.96%. The business had revenue of $5.64 billion during the quarter, compared to analyst estimates of $5.64 billion. During the same period in the prior year, the company earned $0.25 earnings per share. U.S. Bancorp’s revenue was up 3.5% compared to the same quarter last year. Analysts forecast that U.S. Bancorp will post 4.07 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 15th. Shareholders of record on Friday, September 28th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.91%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, September 27th. U.S. Bancorp’s dividend payout ratio is 43.27%.
U.S. Bancorp Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
Further Reading: Dividend Aristocrat Index
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