Edge Capital Group LLC Has $427,000 Stake in U.S. Bancorp (NYSE:USB)

Edge Capital Group LLC trimmed its holdings in U.S. Bancorp (NYSE:USB) by 5.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,749 shares of the financial services provider’s stock after selling 570 shares during the period. Edge Capital Group LLC’s holdings in U.S. Bancorp were worth $427,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Redwood Wealth Management Group LLC bought a new stake in shares of U.S. Bancorp during the 2nd quarter valued at $25,000. Financial Synergies Wealth Advisors Inc. acquired a new position in U.S. Bancorp in the first quarter valued at about $30,000. LRI Investments LLC bought a new stake in U.S. Bancorp during the first quarter worth about $31,000. Eagle Bay Advisors LLC grew its stake in U.S. Bancorp by 93.2% during the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock worth $31,000 after buying an additional 331 shares in the last quarter. Finally, 1620 Investment Advisors Inc. bought a new position in U.S. Bancorp in the 2nd quarter valued at about $30,000. 77.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

USB has been the subject of a number of recent analyst reports. The Goldman Sachs Group cut their price target on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating for the company in a report on Wednesday, September 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $48.00 target price on shares of U.S. Bancorp in a report on Friday, September 13th. Citigroup lifted 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. StockNews.com upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Finally, Wells Fargo & Company lifted their target price on U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $48.18.

U.S. Bancorp Price Performance

Shares of NYSE:USB opened at $46.01 on Monday. The firm has a market capitalization of $71.80 billion, a PE ratio of 15.24, a P/E/G ratio of 4.36 and a beta of 1.04. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. The company has a 50-day moving average price of $44.39 and a two-hundred day moving average price of $42.31. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $47.31.

U.S. Bancorp (NYSE:USB) last posted 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 firm had revenue of $6.87 billion for the quarter, compared to the consensus estimate of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The business’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.12 earnings per share. Equities analysts forecast that U.S. Bancorp will post 3.87 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors 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 represents a $2.00 annualized dividend and a yield of 4.35%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s payout ratio is currently 66.23%.

U.S. Bancorp announced that its board has authorized a stock repurchase plan on Thursday, September 12th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Aleem Gillani purchased 10,000 shares of U.S. Bancorp stock in a transaction dated Thursday, July 18th. The stock was purchased 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 of the company’s stock, valued at $449,900. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 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.