Rehmann Capital Advisory Group Increases Stake in U.S. Bancorp (NYSE:USB)

Rehmann Capital Advisory Group increased its position in U.S. Bancorp (NYSE:USBGet Rating) by 16.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 6,103 shares of the financial services provider’s stock after acquiring an additional 848 shares during the quarter. Rehmann Capital Advisory Group’s holdings in U.S. Bancorp were worth $324,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its holdings in U.S. Bancorp by 54.4% in the 1st quarter. Versant Capital Management Inc now owns 1,135 shares of the financial services provider’s stock worth $60,000 after acquiring an additional 400 shares during the last quarter. Arkadios Wealth Advisors boosted its stake in U.S. Bancorp by 107.1% in the 1st quarter. Arkadios Wealth Advisors now owns 20,610 shares of the financial services provider’s stock worth $1,095,000 after purchasing an additional 10,658 shares during the period. Beacon Financial Group boosted its stake in U.S. Bancorp by 3.8% in the 1st quarter. Beacon Financial Group now owns 11,209 shares of the financial services provider’s stock worth $614,000 after purchasing an additional 407 shares during the period. DNB Asset Management AS boosted its stake in U.S. Bancorp by 11.6% in the 1st quarter. DNB Asset Management AS now owns 329,048 shares of the financial services provider’s stock worth $17,489,000 after purchasing an additional 34,169 shares during the period. Finally, Avestar Capital LLC boosted its stake in U.S. Bancorp by 28.8% in the 1st quarter. Avestar Capital LLC now owns 6,224 shares of the financial services provider’s stock worth $334,000 after purchasing an additional 1,393 shares during the period. Hedge funds and other institutional investors own 74.93% of the company’s stock.

U.S. Bancorp Stock Performance

NYSE:USB opened at $45.87 on Friday. The business has a 50 day moving average of $47.00 and a 200 day moving average of $49.74. The company has a market capitalization of $68.15 billion, a price-to-earnings ratio of 10.54, a PEG ratio of 1.56 and a beta of 0.97. U.S. Bancorp has a 1-year low of $43.74 and a 1-year high of $63.57. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.75 and a quick ratio of 0.74.

U.S. Bancorp (NYSE:USBGet Rating) last released its earnings results on Friday, July 15th. The financial services provider reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The company had revenue of $6.01 billion during the quarter, compared to the consensus estimate of $5.89 billion. U.S. Bancorp had a return on equity of 15.05% and a net margin of 28.08%. U.S. Bancorp’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 EPS. On average, sell-side analysts predict that U.S. Bancorp will post 4.45 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be paid a $0.48 dividend. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.46. This represents a $1.92 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date is Thursday, September 29th. U.S. Bancorp’s payout ratio is 42.30%.

Wall Street Analyst Weigh In

Several brokerages have commented on USB. Oppenheimer set a $68.00 target price on U.S. Bancorp in a research note on Tuesday, July 19th. Morgan Stanley raised their target price on U.S. Bancorp from $54.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Monday, July 18th. Wells Fargo & Company dropped their price target on U.S. Bancorp from $70.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, July 1st. Credit Suisse Group dropped their price target on U.S. Bancorp from $57.00 to $54.00 and set a “neutral” rating for the company in a research report on Tuesday, July 19th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on U.S. Bancorp from $64.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, September 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $58.56.

About U.S. Bancorp

(Get Rating)

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities and other financial institutions in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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