Howland Capital Management LLC Purchases 53,252 Shares of U.S. Bancorp (USB)
Howland Capital Management LLC boosted its position in shares of U.S. Bancorp (NYSE:USB) by 595.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,198 shares of the financial services provider’s stock after buying an additional 53,252 shares during the period. Howland Capital Management LLC’s holdings in U.S. Bancorp were worth $3,229,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. SRS Capital Advisors Inc. increased its position in U.S. Bancorp by 17.0% in the first quarter. SRS Capital Advisors Inc. now owns 2,547 shares of the financial services provider’s stock worth $131,000 after buying an additional 371 shares in the last quarter. Orrstown Financial Services Inc. increased its position in U.S. Bancorp by 30.4% in the second quarter. Orrstown Financial Services Inc. now owns 2,921 shares of the financial services provider’s stock worth $152,000 after buying an additional 681 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in U.S. Bancorp during the first quarter worth $155,000. Tradewinds Capital Management LLC increased its position in U.S. Bancorp by 87.4% in the first quarter. Tradewinds Capital Management LLC now owns 3,663 shares of the financial services provider’s stock worth $189,000 after buying an additional 1,708 shares in the last quarter. Finally, Hudock Capital Group LLC increased its position in U.S. Bancorp by 0.4% in the first quarter. Hudock Capital Group LLC now owns 3,787 shares of the financial services provider’s stock worth $195,000 after buying an additional 16 shares in the last quarter. 74.20% of the stock is currently owned by institutional investors.
U.S. Bancorp (NYSE USB) traded up 0.84% during mid-day trading on Friday, hitting $51.68. The company had a trading volume of 3,656,465 shares. The firm has a market capitalization of $86.45 billion, a P/E ratio of 15.61 and a beta of 0.87. U.S. Bancorp has a 12 month low of $42.17 and a 12 month high of $56.61. The company has a 50-day moving average price of $52.32 and a 200 day moving average price of $52.43.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.01. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 EPS. Equities analysts forecast that U.S. Bancorp will post $3.44 EPS for the current fiscal year.
U.S. Bancorp declared that its board has authorized a share repurchase program on Wednesday, June 28th that allows the company to repurchase $2.60 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
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A number of research analysts have weighed in on the company. BidaskClub downgraded U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, July 16th. Wells Fargo & Company assumed coverage on U.S. Bancorp in a report on Wednesday, August 9th. They issued a “market perform” rating and a $56.00 target price on the stock. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, July 19th. Argus raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Thursday, July 20th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $59.00 target price on shares of U.S. Bancorp in a report on Friday, August 11th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $52.85.
U.S. Bancorp Company Profile
U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.
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