1ST Source Bank Cuts Stock Position in U.S. Bancorp (NYSE:USB)

1ST Source Bank trimmed its position in shares of U.S. Bancorp (NYSE:USB) by 7.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,112 shares of the financial services provider’s stock after selling 2,559 shares during the quarter. 1ST Source Bank’s holdings in U.S. Bancorp were worth $1,275,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Financial Synergies Wealth Advisors Inc. purchased a new position in U.S. Bancorp in the 1st quarter valued at approximately $30,000. 1620 Investment Advisors Inc. purchased a new position in U.S. Bancorp in the second quarter valued at $30,000. Eagle Bay Advisors LLC grew its stake in U.S. Bancorp by 93.2% during the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 331 shares in the last quarter. LRI Investments LLC purchased a new stake in U.S. Bancorp during the 1st quarter worth about $31,000. Finally, Y.D. More Investments Ltd acquired a new stake in U.S. Bancorp in the 2nd quarter valued at about $33,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

USB has been the subject of a number of analyst reports. JPMorgan Chase & Co. downgraded U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective for the company. in a research report on Thursday, June 27th. StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Citigroup raised their price target on U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a research note on Thursday, July 18th. Wells Fargo & Company lifted their price target on U.S. Bancorp from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Finally, Evercore ISI increased their price objective on U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a report on Tuesday, June 25th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $48.18.

U.S. Bancorp Stock Performance

NYSE USB opened at $44.62 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. The business’s 50 day moving average is $43.93 and its two-hundred day moving average is $42.19. The stock has a market capitalization of $69.63 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 4.36 and a beta of 1.04. U.S. Bancorp has a 12-month low of $30.47 and a 12-month high of $47.31.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.04. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The firm had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter in the prior year, the business posted $1.12 earnings per share. U.S. Bancorp’s revenue was down 4.3% compared to the same quarter last year. Research analysts expect that U.S. Bancorp will post 3.87 EPS for the current year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.50 per share. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 4.48%. The ex-dividend date is Monday, September 30th. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

Insider Buying and Selling at U.S. Bancorp

In other news, Director Aleem Gillani purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were acquired at an average price of $44.99 per share, with a total value of $449,900.00. Following the purchase, the director now directly owns 10,000 shares of the company’s stock, valued at $449,900. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.23% of the stock is currently owned by corporate insiders.

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 through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.