Indiana Trust & Investment Management CO decreased its holdings in U.S. Bancorp (NYSE:USB) by 2.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,975 shares of the financial services provider’s stock after selling 211 shares during the quarter. Indiana Trust & Investment Management CO’s holdings in U.S. Bancorp were worth $386,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also modified their holdings of the company. Vantage Consulting Group Inc acquired a new position in shares of U.S. Bancorp in the fourth quarter worth $27,000. Field & Main Bank purchased a new position in shares of U.S. Bancorp in the 4th quarter worth $27,000. Diversified LLC acquired a new stake in shares of U.S. Bancorp in the fourth quarter worth $28,000. Salem Investment Counselors Inc. lifted its stake in shares of U.S. Bancorp by 92.3% during the fourth quarter. Salem Investment Counselors Inc. now owns 600 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 288 shares in the last quarter. Finally, Jeppson Wealth Management LLC acquired a new position in U.S. Bancorp during the 3rd quarter worth approximately $31,000. 71.73% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE USB traded down $0.19 during midday trading on Thursday, reaching $56.62. The company’s stock had a trading volume of 161,230 shares, compared to its average volume of 7,974,351. The company has a current ratio of 0.82, a quick ratio of 0.80 and a debt-to-equity ratio of 0.90. U.S. Bancorp has a fifty-two week low of $28.36 and a fifty-two week high of $57.02. The stock has a market capitalization of $85.08 billion, a price-to-earnings ratio of 18.81, a PEG ratio of 2.26 and a beta of 1.09. The stock has a 50 day simple moving average of $53.30 and a 200-day simple moving average of $45.75.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Tuesday, January 19th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.95. U.S. Bancorp had a net margin of 18.68% and a return on equity of 10.99%. The company had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.80 billion. During the same period last year, the company earned $0.90 earnings per share. The firm’s revenue was up 1.5% compared to the same quarter last year. As a group, equities analysts anticipate that U.S. Bancorp will post 3.06 EPS for the current year.
U.S. Bancorp announced that its board has initiated a share buyback plan on Tuesday, December 22nd that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to purchase up to 4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st will be issued a $0.42 dividend. The ex-dividend date of this dividend is Tuesday, March 30th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.97%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 38.71%.
Several analysts have issued reports on the company. Zacks Investment Research raised U.S. Bancorp from a “hold” rating to a “strong-buy” rating and set a $52.00 target price on the stock in a report on Thursday, December 17th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of U.S. Bancorp from $55.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, April 1st. Odeon Capital Group upgraded U.S. Bancorp from a “hold” rating to a “buy” rating in a research report on Wednesday, March 24th. Stephens lifted their price objective on shares of U.S. Bancorp from $52.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 30th. Finally, Morgan Stanley upped their price target on U.S. Bancorp from $57.00 to $58.00 and gave the company an “equal weight” rating in a research report on Monday, March 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $53.28.
U.S. Bancorp Profile
U.S. Bancorp, a financial services holding company, provides various financial services 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. The company offers depository services, including checking accounts, savings accounts, and time certificate contracts; lending services, such as traditional credit products; and credit card services, lease financing and import/export trade, asset-backed lending, agricultural finance, and other products.
Further Reading: Fundamental Analysis
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