IMS Capital Management Purchases 315 Shares of U.S. Bancorp (NYSE:USB)

IMS Capital Management raised its holdings in shares of U.S. Bancorp (NYSE:USB) by 0.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,951 shares of the financial services provider’s stock after purchasing an additional 315 shares during the period. U.S. Bancorp accounts for approximately 0.9% of IMS Capital Management’s holdings, making the stock its 29th biggest holding. IMS Capital Management’s holdings in U.S. Bancorp were worth $2,097,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Valmark Advisers Inc. lifted its holdings in U.S. Bancorp by 2.9% in the second quarter. Valmark Advisers Inc. now owns 8,707 shares of the financial services provider’s stock valued at $346,000 after buying an additional 242 shares during the period. Waldron Private Wealth LLC lifted its stake in U.S. Bancorp by 1.9% in the second quarter. Waldron Private Wealth LLC now owns 13,285 shares of the financial services provider’s stock valued at $534,000 after buying an additional 247 shares during the period. Naples Global Advisors LLC lifted its stake in U.S. Bancorp by 0.4% in the second quarter. Naples Global Advisors LLC now owns 65,360 shares of the financial services provider’s stock valued at $2,624,000 after buying an additional 248 shares during the period. Kavar Capital Partners Group LLC boosted its holdings in U.S. Bancorp by 4.7% during the second quarter. Kavar Capital Partners Group LLC now owns 5,555 shares of the financial services provider’s stock worth $221,000 after buying an additional 250 shares during the last quarter. Finally, STAR Financial Bank grew its position in shares of U.S. Bancorp by 3.3% during the 2nd quarter. STAR Financial Bank now owns 7,772 shares of the financial services provider’s stock worth $309,000 after buying an additional 250 shares during the period. Institutional investors own 77.60% of the company’s stock.

Analyst Ratings Changes

USB has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price objective for the company. in a report on Thursday, June 27th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $48.00 price objective on shares of U.S. Bancorp in a research note on Friday, September 13th. Citigroup increased their target price 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. StockNews.com raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, July 17th. Finally, UBS Group increased their target price on U.S. Bancorp from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, July 18th. Twelve equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, U.S. Bancorp currently has an average rating of “Hold” and an average price target of $48.34.

U.S. Bancorp Stock Up 1.6 %

Shares of USB opened at $45.73 on Tuesday. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a 12 month low of $30.47 and a 12 month high of $47.31. The firm’s 50 day moving average is $44.54 and its 200-day moving average is $42.40. The stock has a market capitalization of $71.36 billion, a PE ratio of 15.14, a P/E/G ratio of 3.06 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 EPS for the quarter, beating the consensus estimate of $0.94 by $0.04. U.S. Bancorp had a net margin of 12.55% and a return on equity of 13.34%. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same period in the previous year, the company earned $1.12 EPS. The business’s revenue for the quarter was down 4.3% compared to the same quarter last year. Equities research analysts forecast that U.S. Bancorp will post 3.86 EPS for the current 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 given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date is Monday, September 30th. 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 declared that its Board of Directors has initiated a stock buyback program on Thursday, September 12th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the financial services provider to repurchase up to 7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Insider Transactions at U.S. Bancorp

In related news, Director Aleem Gillani bought 10,000 shares of the business’s stock in a transaction on Thursday, July 18th. The shares were purchased at an average price of $44.99 per share, for a total transaction of $449,900.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $449,900. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp 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.