U.S. Bancorp (USB) Holdings Held by Webster Bank N. A.
Webster Bank N. A. maintained its stake in shares of U.S. Bancorp (NYSE:USB) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,142 shares of the financial services provider’s stock at the end of the 2nd quarter. Webster Bank N. A.’s holdings in U.S. Bancorp were worth $111,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of USB. Waldron LP purchased a new stake in U.S. Bancorp in the first quarter worth about $323,000. Russell Investments Group Ltd. lifted its holdings in U.S. Bancorp by 2.2% in the first quarter. Russell Investments Group Ltd. now owns 4,034,509 shares of the financial services provider’s stock worth $207,783,000 after buying an additional 85,323 shares during the period. Rand Wealth LLC lifted its holdings in U.S. Bancorp by 0.3% in the first quarter. Rand Wealth LLC now owns 129,009 shares of the financial services provider’s stock worth $6,644,000 after buying an additional 428 shares during the period. Financial Architects Inc lifted its holdings in U.S. Bancorp by 181.6% in the first quarter. Financial Architects Inc now owns 45,670 shares of the financial services provider’s stock worth $2,352,000 after buying an additional 29,453 shares during the period. Finally, IFP Advisors Inc lifted its holdings in U.S. Bancorp by 0.5% in the first quarter. IFP Advisors Inc now owns 151,788 shares of the financial services provider’s stock worth $7,817,000 after buying an additional 756 shares during the period. Institutional investors and hedge funds own 73.97% of the company’s stock.
Several analysts have commented on USB shares. BidaskClub lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, August 24th. Robert W. Baird reiterated a “hold” rating and set a $48.00 target price on shares of U.S. Bancorp in a report on Tuesday, September 5th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a report on Wednesday, July 19th. Argus upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a report on Thursday, July 20th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $59.00 target price on shares of U.S. Bancorp in a report on Friday, August 11th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $53.08.
Shares of U.S. Bancorp (USB) traded down 0.13% during midday trading on Friday, hitting $53.67. 6,240,972 shares of the company traded hands. The stock has a market capitalization of $89.78 billion, a P/E ratio of 16.21 and a beta of 0.87. The company has a 50-day moving average price of $52.00 and a 200-day moving average price of $52.08. U.S. Bancorp has a 52 week low of $42.17 and a 52 week high of $56.61.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.01. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.46 billion. During the same quarter in the prior year, the company earned $0.82 EPS. The company’s revenue was up .7% compared to the same quarter last year. Analysts anticipate that U.S. Bancorp will post $3.43 earnings per share for the current fiscal year.
U.S. Bancorp announced that its board has approved a share buyback plan on Wednesday, June 28th that permits the company to buyback $2.60 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be given a dividend of $0.30 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.28. The ex-dividend date is Thursday, September 28th. This represents a $1.20 dividend on an annualized basis and a yield of 2.24%. U.S. Bancorp’s dividend payout ratio is presently 33.63%.
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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