Fiduciary Group LLC Has $1.20 Million Holdings in U.S. Bancorp (NYSE:USB)

Fiduciary Group LLC reduced its holdings in shares of U.S. Bancorp (NYSE:USB) by 2.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,101 shares of the financial services provider’s stock after selling 910 shares during the quarter. Fiduciary Group LLC’s holdings in U.S. Bancorp were worth $1,195,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Citigroup upped their price objective on U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Jefferies Financial Group dropped their price target on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a research report on Wednesday, July 3rd. StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. cut shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 target price on the stock. in a report on Thursday, June 27th. Finally, Morgan Stanley upped their price objective on U.S. Bancorp from $47.00 to $54.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $48.18.

U.S. Bancorp Stock Up 1.8 %

NYSE USB opened at $44.62 on Friday. The company has a market cap 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 1-year low of $30.47 and a 1-year high of $47.31. 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 company has a 50 day moving average of $43.93 and a 200-day moving average of $42.19.

U.S. Bancorp (NYSE:USB) last released its earnings results 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. The company had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. U.S. Bancorp’s quarterly revenue was down 4.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.12 EPS. On average, equities research analysts expect that U.S. Bancorp will post 3.87 earnings per share for the current fiscal year.

U.S. Bancorp Increases Dividend

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

Insider Activity

In other U.S. Bancorp news, Director Aleem Gillani acquired 10,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was acquired at an average cost of $44.99 per share, for a total transaction of $449,900.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $449,900. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.23% of the company’s stock.

About U.S. Bancorp

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.