Greenleaf Trust Sells 27,555 Shares of U.S. Bancorp (USB)
Greenleaf Trust reduced its position in U.S. Bancorp (NYSE:USB) by 10.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 248,919 shares of the financial services provider’s stock after selling 27,555 shares during the period. U.S. Bancorp accounts for approximately 0.3% of Greenleaf Trust’s investment portfolio, making the stock its 24th largest position. Greenleaf Trust’s holdings in U.S. Bancorp were worth $10,039,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. American Century Companies Inc. boosted its position 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 worth $415,828,000 after buying an additional 5,326,919 shares in the last quarter. Bank of Montreal Can bought a new position in shares of U.S. Bancorp during the second quarter valued at $86,393,000. Franklin Resources Inc. boosted its position 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. NN Investment Partners Holdings N.V. bought a new position in shares of U.S. Bancorp during the first quarter valued at $51,818,000. Finally, Primecap Management Co. CA boosted its position in shares of U.S. Bancorp by 23.9% in the first quarter. Primecap Management Co. CA now owns 4,819,325 shares of the financial services provider’s stock valued at $195,616,000 after buying an additional 929,325 shares during the period. Institutional investors own 72.58% of the company’s stock.
U.S. Bancorp (NYSE:USB) traded up 0.46% during mid-day trading on Thursday, reaching $43.85. The company had a trading volume of 9,531,346 shares. The firm has a 50-day moving average of $43.29 and a 200 day moving average of $42.01. U.S. Bancorp has a 1-year low of $37.07 and a 1-year high of $44.58. The company has a market capitalization of $75.05 billion, a PE ratio of 13.75 and a beta of 0.82.
U.S. Bancorp (NYSE:USB) last posted 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. U.S. Bancorp had a return on equity of 14.05% and a net margin of 26.56%. The company had revenue of $5.45 billion for the quarter. During the same period in the prior year, the company posted $0.80 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year. On average, analysts predict that U.S. Bancorp will post $3.25 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Shareholders of record on Friday, September 30th will be issued a $0.28 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, September 28th. This represents a $1.12 dividend on an annualized basis and a yield of 2.57%. U.S. Bancorp’s dividend payout ratio is currently 35.00%.
Several equities analysts have weighed in on USB shares. Zacks Investment Research cut U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, September 19th. Credit Agricole SA raised their price objective on U.S. Bancorp from $43.00 to $45.00 and gave the company an “underperform” rating in a research note on Friday, September 23rd. Wells Fargo & Co. restated a “buy” rating on shares of U.S. Bancorp in a research note on Friday, September 16th. Piper Jaffray Cos. restated an “overweight” rating and set a $46.00 price objective (down from $47.00) on shares of U.S. Bancorp in a research note on Monday, September 19th. Finally, Portales Partners upgraded U.S. Bancorp from a “sector perform” rating to an “outperform” rating in a research note on Thursday, August 25th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the company. U.S. Bancorp currently has a consensus rating of “Hold” and an average target price of $45.17.
In other U.S. Bancorp news, Vice Chairman Gillern Jeffry H. Von sold 102,961 shares of the stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $42.00, for a total value of $4,324,362.00. Following the transaction, the insider now owns 178,422 shares of the company’s stock, valued at $7,493,724. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Craig E. Gifford sold 2,500 shares of the stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $41.87, for a total value of $104,675.00. Following the completion of the transaction, the executive vice president now directly owns 49,881 shares in the company, valued at approximately $2,088,517.47. The disclosure for this sale can be found here. 0.68% of the stock is owned by company insiders.
About U.S. Bancorp
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.
Receive News & Stock Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related stocks with our FREE daily email newsletter.