Community Bank of Raymore Reduces Stake in U.S. Bancorp (USB)
Community Bank of Raymore decreased its position in U.S. Bancorp (NYSE:USB) by 0.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 294,282 shares of the financial services provider’s stock after selling 65 shares during the period. U.S. Bancorp accounts for approximately 5.7% of Community Bank of Raymore’s holdings, making the stock its 5th largest position. Community Bank of Raymore’s holdings in U.S. Bancorp were worth $11,856,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of USB. Franklin Resources Inc. boosted its stake in shares of U.S. Bancorp by 8.0% in the first quarter. Franklin Resources Inc. now owns 17,805,686 shares of the financial services provider’s stock valued at $722,733,000 after buying an additional 1,324,977 shares during the period. BlackRock Group LTD boosted its stake in shares of U.S. Bancorp by 3.1% in the first quarter. BlackRock Group LTD now owns 15,988,334 shares of the financial services provider’s stock valued at $648,967,000 after buying an additional 478,684 shares during the period. Wellington Management Group LLP boosted its stake in shares of U.S. Bancorp by 2.6% in the first quarter. Wellington Management Group LLP now owns 15,059,741 shares of the financial services provider’s stock valued at $611,275,000 after buying an additional 384,013 shares during the period. Geode Capital Management LLC boosted its stake in shares of U.S. Bancorp by 1.1% in the first quarter. Geode Capital Management LLC now owns 13,594,382 shares of the financial services provider’s stock valued at $550,689,000 after buying an additional 153,855 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of U.S. Bancorp by 106.9% in the second quarter. American Century Companies Inc. now owns 10,310,646 shares of the financial services provider’s stock valued at $415,828,000 after buying an additional 5,326,919 shares during the period. Institutional investors own 72.58% of the company’s stock.
U.S. Bancorp (NYSE:USB) traded down 0.525% on Monday, hitting $42.665. 3,854,344 shares of the company were exchanged. The company has a market capitalization of $73.02 billion, a price-to-earnings ratio of 13.375 and a beta of 0.82. U.S. Bancorp has a 52 week low of $37.07 and a 52 week high of $44.58. The stock has a 50 day moving average of $43.28 and a 200 day moving average of $41.95.
U.S. Bancorp (NYSE:USB) last announced its earnings results on Friday, July 15th. The financial services provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. The business had revenue of $5.45 billion for the quarter. U.S. Bancorp had a net margin of 26.56% and a return on equity of 14.05%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.80 earnings per share. Analysts predict that U.S. Bancorp will post $3.25 EPS for the current fiscal year.
The firm 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 dividend of $0.28 per share. The ex-dividend date is Wednesday, September 28th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.26. This represents a $1.12 annualized dividend and a dividend yield of 2.61%. U.S. Bancorp’s dividend payout ratio (DPR) is 35.00%.
Several analysts have weighed in on USB shares. Keefe, Bruyette & Woods dropped their price objective on shares of U.S. Bancorp from $45.00 to $43.00 and set a “market perform” rating for the company in a research note on Tuesday, July 5th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $47.00 price objective (up previously from $46.00) on shares of U.S. Bancorp in a research note on Tuesday, July 19th. Deutsche Bank AG reiterated a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, June 15th. Zacks Investment Research cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, September 19th. Finally, FBR & Co reiterated a “buy” rating on shares of U.S. Bancorp in a research note on Monday, July 18th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have assigned a buy rating to the company. U.S. Bancorp currently has a consensus rating of “Hold” and a consensus target price of $45.17.
In other news, EVP Craig E. Gifford sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $41.87, for a total value of $104,675.00. Following the transaction, the executive vice president now owns 49,881 shares in the company, valued at $2,088,517.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman Gillern Jeffry H. Von sold 102,961 shares of the firm’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $42.00, for a total transaction of $4,324,362.00. Following the completion of the transaction, the insider now owns 178,422 shares in the company, valued at approximately $7,493,724. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.
U.S. Bancorp Company Profile
U.S. Bancorp is a multi-state financial services holding company. The Company’s banking subsidiary, U.S. Bank National Association, is engaged in the general banking business in domestic markets. It provides a range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services.
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