Hills Bank & Trust Co. Has $4.72 Million Holdings in U.S. Bancorp (USB)
Hills Bank & Trust Co. boosted its holdings in shares of U.S. Bancorp (NYSE:USB) by 136.4% in the second quarter, according to its most recent filing with the SEC. The firm owned 90,893 shares of the financial services provider’s stock after acquiring an additional 52,447 shares during the period. U.S. Bancorp accounts for 1.5% of Hills Bank & Trust Co.’s portfolio, making the stock its 20th largest position. Hills Bank & Trust Co.’s holdings in U.S. Bancorp were worth $4,720,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Waldron LP bought a new position in shares of U.S. Bancorp during the first quarter worth $323,000. Rand Wealth LLC boosted its position in shares of U.S. Bancorp by 0.3% during the first quarter. Rand Wealth LLC now owns 129,009 shares of the financial services provider’s stock worth $6,644,000 after purchasing an additional 428 shares in the last quarter. Financial Architects Inc boosted its position in shares of U.S. Bancorp by 181.6% during the first quarter. Financial Architects Inc now owns 45,670 shares of the financial services provider’s stock worth $2,352,000 after purchasing an additional 29,453 shares in the last quarter. IFP Advisors Inc boosted its position in shares of U.S. Bancorp by 0.5% during the first quarter. IFP Advisors Inc now owns 151,788 shares of the financial services provider’s stock worth $7,817,000 after purchasing an additional 756 shares in the last quarter. Finally, Leavell Investment Management Inc. boosted its position in shares of U.S. Bancorp by 0.7% during the first quarter. Leavell Investment Management Inc. now owns 68,280 shares of the financial services provider’s stock worth $3,516,000 after purchasing an additional 500 shares in the last quarter. 73.97% of the stock is owned by hedge funds and other institutional investors.
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USB has been the topic of a number of recent analyst reports. Jefferies Group LLC reissued a “buy” rating and set a $59.00 price target on shares of U.S. Bancorp in a research report on Friday, June 9th. BidaskClub raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Argus raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Thursday, July 20th. Finally, Wells Fargo & Company initiated coverage on shares of U.S. Bancorp in a research report on Wednesday, August 9th. They set a “market perform” rating and a $56.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $53.08.
U.S. Bancorp (USB) traded down 0.34% during midday trading on Monday, reaching $53.49. 1,755,966 shares of the company traded hands. 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 of $52.00 and a 200-day moving average of $52.08. The stock has a market capitalization of $89.48 billion, a P/E ratio of 16.16 and a beta of 0.87.
U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.01. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.46 billion. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. U.S. Bancorp’s revenue was up .7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.82 earnings per share. Equities analysts anticipate that U.S. Bancorp will post $3.43 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 29th will be paid a dividend of $0.30 per share. The ex-dividend date is Thursday, September 28th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a yield of 2.24%. U.S. Bancorp’s dividend payout ratio is currently 33.63%.
U.S. Bancorp declared that its Board of Directors has initiated a stock buyback program on Wednesday, June 28th that authorizes the company to buyback $2.60 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
U.S. Bancorp 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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