AdvisorNet Financial Inc Sells 7,272 Shares of U.S. Bancorp (NYSE:USB)

AdvisorNet Financial Inc decreased its holdings in U.S. Bancorp (NYSE:USBGet Rating) by 28.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,239 shares of the financial services provider’s stock after selling 7,272 shares during the period. AdvisorNet Financial Inc’s holdings in U.S. Bancorp were worth $839,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in USB. Vanguard Group Inc. boosted its stake in U.S. Bancorp by 2.4% during the first quarter. Vanguard Group Inc. now owns 111,805,389 shares of the financial services provider’s stock valued at $5,942,456,000 after buying an additional 2,618,810 shares during the last quarter. BlackRock Inc. boosted its stake in U.S. Bancorp by 1.9% during the first quarter. BlackRock Inc. now owns 97,457,184 shares of the financial services provider’s stock valued at $5,179,851,000 after buying an additional 1,840,496 shares during the last quarter. State Street Corp boosted its stake in U.S. Bancorp by 0.3% during the first quarter. State Street Corp now owns 63,300,947 shares of the financial services provider’s stock valued at $3,393,153,000 after buying an additional 190,720 shares during the last quarter. Geode Capital Management LLC boosted its stake in U.S. Bancorp by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 23,287,715 shares of the financial services provider’s stock valued at $1,305,145,000 after buying an additional 493,821 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in U.S. Bancorp by 7.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 22,052,957 shares of the financial services provider’s stock valued at $1,172,115,000 after buying an additional 1,622,711 shares during the last quarter. Institutional investors own 74.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on USB shares. Citigroup increased their price target on U.S. Bancorp to $52.00 in a research note on Friday, July 22nd. Wolfe Research decreased their price objective on U.S. Bancorp from $62.00 to $54.00 and set an “outperform” rating on the stock in a research report on Thursday, May 26th. Jefferies Financial Group decreased their price objective on U.S. Bancorp from $52.00 to $45.00 in a research report on Monday, July 11th. Royal Bank of Canada decreased their price objective on U.S. Bancorp from $66.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, July 1st. Finally, Credit Suisse Group decreased their price objective on U.S. Bancorp from $57.00 to $54.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $58.56.

U.S. Bancorp Stock Performance

Shares of NYSE USB opened at $45.87 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.74 and a current ratio of 0.75. The business’s 50 day moving average price is $46.99 and its 200-day moving average price is $49.67. U.S. Bancorp has a fifty-two week low of $43.74 and a fifty-two week high of $63.57. The company has a market cap of $68.15 billion, a price-to-earnings ratio of 10.54, a PEG ratio of 1.59 and a beta of 0.97.

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

U.S. Bancorp Increases Dividend

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

U.S. Bancorp Company Profile

(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.

Further Reading

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

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