Highland Capital Management LLC lessened its position in U.S. Bancorp (NYSE:USB – Get Rating) by 56.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,912 shares of the financial services provider’s stock after selling 91,571 shares during the quarter. Highland Capital Management LLC’s holdings in U.S. Bancorp were worth $3,309,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in USB. Delos Wealth Advisors LLC purchased a new position in U.S. Bancorp in the 4th quarter worth about $29,000. Advocacy Wealth Management Services LLC increased its stake in U.S. Bancorp by 72.3% in the 1st quarter. Advocacy Wealth Management Services LLC now owns 572 shares of the financial services provider’s stock worth $30,000 after buying an additional 240 shares during the period. Westside Investment Management Inc. increased its stake in U.S. Bancorp by 45.6% in the 1st quarter. Westside Investment Management Inc. now owns 648 shares of the financial services provider’s stock worth $34,000 after buying an additional 203 shares during the period. Exane Derivatives purchased a new position in U.S. Bancorp in the 1st quarter worth about $41,000. Finally, Cyrus J. Lawrence LLC purchased a new position in U.S. Bancorp in the 1st quarter worth about $44,000. Institutional investors own 74.93% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on the stock. Credit Suisse Group reduced their price target on shares of U.S. Bancorp from $57.00 to $54.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 19th. Citigroup raised their target price on shares of U.S. Bancorp to $52.00 in a research report on Friday, July 22nd. Morgan Stanley raised their target price on shares of U.S. Bancorp from $54.00 to $57.00 and gave the company an “equal weight” rating in a research report on Monday, July 18th. Wolfe Research cut their target price on shares of U.S. Bancorp from $62.00 to $54.00 and set an “outperform” rating on the stock in a research report on Thursday, May 26th. Finally, Jefferies Financial Group cut their target price on shares of U.S. Bancorp from $52.00 to $45.00 in a research report on Monday, July 11th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $58.56.
U.S. Bancorp Stock Down 2.0 %
U.S. Bancorp (NYSE:USB – Get Rating) last released its earnings results on Friday, July 15th. The financial services provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The company had revenue of $6.01 billion during the quarter, compared to analysts’ expectations of $5.89 billion. U.S. Bancorp had a net margin of 28.08% and a return on equity of 15.05%. U.S. Bancorp’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same period last year, the business earned $1.28 EPS. On average, sell-side analysts predict that U.S. Bancorp will post 4.45 EPS for the current fiscal year.
U.S. Bancorp Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.46. This represents a $1.92 dividend on an annualized basis and a yield of 4.46%. U.S. Bancorp’s dividend payout ratio (DPR) is 42.30%.
U.S. Bancorp Company Profile
U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities and other financial institutions in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.
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