Koshinski Asset Management Inc. lifted its stake in U.S. Bancorp (NYSE:USB – Get Rating) by 1.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,407 shares of the financial services provider’s stock after purchasing an additional 267 shares during the period. Koshinski Asset Management Inc.’s holdings in U.S. Bancorp were worth $663,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of USB. Foundations Investment Advisors LLC lifted its holdings in U.S. Bancorp by 5.0% during the 2nd quarter. Foundations Investment Advisors LLC now owns 8,132 shares of the financial services provider’s stock worth $378,000 after buying an additional 388 shares during the last quarter. Versant Capital Management Inc lifted its holdings in U.S. Bancorp by 54.4% during the 1st quarter. Versant Capital Management Inc now owns 1,135 shares of the financial services provider’s stock worth $60,000 after buying an additional 400 shares during the last quarter. Arkadios Wealth Advisors lifted its holdings in shares of 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 valued at $1,095,000 after purchasing an additional 10,658 shares during the last quarter. Beacon Financial Group lifted its holdings in shares of 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 valued at $614,000 after purchasing an additional 407 shares during the last quarter. Finally, DNB Asset Management AS lifted its holdings in shares of 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 valued at $17,489,000 after purchasing an additional 34,169 shares during the last quarter. 74.93% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research firms have recently weighed in on USB. Deutsche Bank Aktiengesellschaft reduced their target price on U.S. Bancorp from $64.00 to $60.00 and set a “buy” rating for the company in a report on Monday, September 12th. Credit Suisse Group dropped their price target 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. Wolfe Research dropped their price target 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. Morgan Stanley boosted their price target on U.S. Bancorp from $54.00 to $57.00 and gave the company an “equal weight” rating in a research report on Monday, July 18th. Finally, Royal Bank of Canada dropped their price target 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, U.S. Bancorp currently has an average rating of “Hold” and a consensus target price of $58.56.
U.S. Bancorp Stock Performance
U.S. Bancorp (NYSE:USB – Get Rating) last announced its quarterly earnings results on Friday, July 15th. The financial services provider reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. The business had revenue of $6.01 billion for the quarter, compared to analyst estimates of $5.89 billion. U.S. Bancorp had a return on equity of 15.05% and a net margin of 28.08%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.28 EPS. Research analysts expect that U.S. Bancorp will post 4.45 EPS for the current year.
U.S. Bancorp Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, October 17th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.48 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.46. The ex-dividend date is Thursday, September 29th. This represents a $1.92 annualized dividend and a dividend yield of 4.37%. U.S. Bancorp’s payout ratio is 42.30%.
U.S. Bancorp Company Profile
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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