Laffer Tengler Investments Inc. Has $559,000 Holdings in U.S. Bancorp $USB

Laffer Tengler Investments Inc. lessened its stake in shares of U.S. Bancorp (NYSE:USB) by 95.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,565 shares of the financial services provider’s stock after selling 242,447 shares during the quarter. Laffer Tengler Investments Inc.’s holdings in U.S. Bancorp were worth $559,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of USB. Chemung Canal Trust Co. lifted its holdings in U.S. Bancorp by 205.5% during the third quarter. Chemung Canal Trust Co. now owns 68,327 shares of the financial services provider’s stock worth $3,302,000 after acquiring an additional 45,963 shares in the last quarter. Citigroup Inc. increased its holdings in shares of U.S. Bancorp by 2.4% in the third quarter. Citigroup Inc. now owns 1,749,812 shares of the financial services provider’s stock worth $84,568,000 after acquiring an additional 41,803 shares in the last quarter. Jones Financial Companies Lllp raised its position in shares of U.S. Bancorp by 15.3% during the third quarter. Jones Financial Companies Lllp now owns 358,972 shares of the financial services provider’s stock worth $17,738,000 after purchasing an additional 47,537 shares during the period. Synergy Asset Management LLC lifted its holdings in shares of U.S. Bancorp by 100.0% during the 3rd quarter. Synergy Asset Management LLC now owns 119,962 shares of the financial services provider’s stock valued at $5,428,000 after purchasing an additional 59,981 shares in the last quarter. Finally, Andra AP fonden lifted its holdings in shares of U.S. Bancorp by 175.6% during the 2nd quarter. Andra AP fonden now owns 458,400 shares of the financial services provider’s stock valued at $20,743,000 after purchasing an additional 292,100 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. HSBC reissued a “buy” rating and set a $62.00 target price on shares of U.S. Bancorp in a research note on Wednesday, January 7th. UBS Group reiterated a “neutral” rating and issued a $60.00 price target on shares of U.S. Bancorp in a report on Wednesday, February 4th. JPMorgan Chase & Co. raised their price objective on shares of U.S. Bancorp from $55.50 to $62.00 and gave the stock an “underweight” rating in a report on Monday, February 9th. Oppenheimer boosted their price objective on shares of U.S. Bancorp from $75.00 to $77.00 and gave the company an “outperform” rating in a research report on Wednesday, January 21st. Finally, DA Davidson upped their target price on shares of U.S. Bancorp from $63.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.02.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $53.98 on Wednesday. U.S. Bancorp has a 12 month low of $35.18 and a 12 month high of $61.19. The company’s fifty day simple moving average is $56.16 and its 200-day simple moving average is $51.34. The firm has a market cap of $83.87 billion, a PE ratio of 11.68, a P/E/G ratio of 0.98 and a beta of 1.04. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Tuesday, January 20th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.07. U.S. Bancorp had a net margin of 17.66% and a return on equity of 13.48%. The firm had revenue of $7.92 billion for the quarter, compared to analyst estimates of $7.31 billion. During the same period in the previous year, the business earned $1.07 EPS. The company’s revenue was up 5.1% compared to the same quarter last year. Equities research analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Wednesday, December 31st were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.9%. The ex-dividend date was Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio is presently 45.02%.

Insider Transactions at U.S. Bancorp

In related news, insider Mark G. Runkel sold 32,195 shares of the stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $60.65, for a total transaction of $1,952,626.75. Following the completion of the transaction, the insider directly owned 97,728 shares of the company’s stock, valued at approximately $5,927,203.20. This represents a 24.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.