Washington Trust Bank Buys 1,022 Shares of U.S. Bancorp (USB)
Washington Trust Bank increased its position in shares of U.S. Bancorp (NYSE:USB) by 0.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 220,616 shares of the financial services provider’s stock after buying an additional 1,022 shares during the period. U.S. Bancorp accounts for about 2.3% of Washington Trust Bank’s holdings, making the stock its 3rd largest position. Washington Trust Bank’s holdings in U.S. Bancorp were worth $9,462,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the stock. Chicago Partners Investment Group LLC raised its stake in U.S. Bancorp by 13.3% in the second quarter. Chicago Partners Investment Group LLC now owns 2,606 shares of the financial services provider’s stock worth $105,000 after buying an additional 306 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in U.S. Bancorp during the second quarter worth approximately $106,000. First Personal Financial Services raised its stake in U.S. Bancorp by 40.7% in the second quarter. First Personal Financial Services now owns 2,784 shares of the financial services provider’s stock worth $112,000 after buying an additional 806 shares during the last quarter. Bellwether Investment Group LLC bought a new stake in U.S. Bancorp during the second quarter worth approximately $116,000. Finally, Hudock Capital Group LLC raised its stake in U.S. Bancorp by 0.5% in the second quarter. Hudock Capital Group LLC now owns 3,734 shares of the financial services provider’s stock worth $150,000 after buying an additional 19 shares during the last quarter. 72.93% of the stock is currently owned by institutional investors and hedge funds.
Shares of U.S. Bancorp (NYSE:USB) traded up 1.13% during midday trading on Friday, hitting $49.23. The stock had a trading volume of 9,090,546 shares. U.S. Bancorp has a 12-month low of $37.07 and a 12-month high of $49.40. The firm has a 50-day moving average of $43.92 and a 200 day moving average of $42.62. The firm has a market cap of $83.68 billion, a PE ratio of 15.24 and a beta of 0.80.
U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, October 19th. The financial services provider reported $0.84 EPS for the quarter, meeting analysts’ consensus estimates of $0.84. U.S. Bancorp had a return on equity of 13.92% and a net margin of 26.24%. The firm had revenue of $5.39 billion for the quarter, compared to the consensus estimate of $5.35 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. On average, analysts expect that U.S. Bancorp will post $3.24 earnings per share for the current year.
A number of research firms recently commented on USB. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of U.S. Bancorp in a research note on Saturday, September 17th. Jefferies Group reaffirmed a “hold” rating and set a $44.00 price objective on shares of U.S. Bancorp in a research note on Wednesday, August 10th. Credit Agricole SA increased 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. RBC Capital Markets reissued an “outperform” rating and issued a $48.00 price target (up from $47.00) on shares of U.S. Bancorp in a research note on Saturday, October 22nd. Finally, Portales Partners raised 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, fifteen have issued a hold rating and ten have issued a buy rating to the company. U.S. Bancorp has a consensus rating of “Hold” and an average target price of $45.47.
In other news, Vice Chairman Terrance R. Dolan sold 55,205 shares of the company’s stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $47.67, for a total transaction of $2,631,622.35. Following the completion of the sale, the insider now owns 90,188 shares in the company, valued at approximately $4,299,261.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Vice Chairman John R. Elmore sold 40,000 shares of the company’s stock in a transaction dated Tuesday, October 25th. The stock was sold at an average price of $43.83, for a total value of $1,753,200.00. Following the sale, the insider now owns 113,723 shares of the company’s stock, valued at approximately $4,984,479.09. The disclosure for this sale can be found here. 0.68% of the stock is owned by company insiders.
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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