Today: The FTB Advisors Inc. lowers its Position in U.S. Bancorp (USB)

The FTB Advisors Inc. lowers its Position in U.S. Bancorp (USB)

FTB Advisors Inc. lowered its position in U.S. Bancorp (NYSE:USB) by 1.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,044 shares of the financial services provider’s stock after selling 221 shares during the period. FTB Advisors Inc.’s holdings in U.S. Bancorp were worth $485,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in USB. James Investment Research Inc. increased its stake in shares of U.S. Bancorp by 1.4% in the second quarter. James Investment Research Inc. now owns 4,055 shares of the financial services provider’s stock valued at $164,000 after buying an additional 55 shares during the period. Cypress Capital Management LLC WY acquired a new stake in shares of U.S. Bancorp during the second quarter valued at about $198,000. Trust Department MB Financial Bank N A increased its stake in shares of U.S. Bancorp by 7.8% in the second quarter. Trust Department MB Financial Bank N A now owns 4,786 shares of the financial services provider’s stock valued at $208,000 after buying an additional 345 shares during the period. JFS Wealth Advisors LLC increased its stake in shares of U.S. Bancorp by 16,150.0% in the second quarter. JFS Wealth Advisors LLC now owns 5,200 shares of the financial services provider’s stock valued at $210,000 after buying an additional 5,168 shares during the period. Finally, Howland Capital Management LLC increased its stake in shares of U.S. Bancorp by 1.2% in the second quarter. Howland Capital Management LLC now owns 5,367 shares of the financial services provider’s stock valued at $216,000 after buying an additional 65 shares during the period. 72.58% of the stock is currently owned by hedge funds and other institutional investors.

U.S. Bancorp (NYSE:USB) traded up 0.16% on Friday, reaching $42.95. 4,074,878 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $43.32 and a 200 day moving average of $42.09. U.S. Bancorp has a 12 month low of $37.07 and a 12 month high of $44.58. The stock has a market capitalization of $73.51 billion, a PE ratio of 13.46 and a beta of 0.82.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Friday, July 15th. The financial services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.03. The firm had revenue of $5.45 billion for the quarter. U.S. Bancorp had a net margin of 26.56% and a return on equity of 14.05%. U.S. Bancorp’s revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.80 EPS. Equities analysts predict that U.S. Bancorp will post $3.25 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 17th. Investors of record on Friday, September 30th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.61%. The ex-dividend date is Wednesday, September 28th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.26. U.S. Bancorp’s dividend payout ratio (DPR) is presently 35.00%.

USB has been the topic of several recent research reports. Keefe, Bruyette & Woods reduced their price target on shares of U.S. Bancorp from $45.00 to $43.00 and set a “market perform” rating on the stock in a report on Tuesday, July 5th. Wells Fargo & Co. reaffirmed a “buy” rating on shares of U.S. Bancorp in a report on Friday, September 16th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $47.00 price target (up previously from $46.00) on shares of U.S. Bancorp in a report on Tuesday, July 19th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of U.S. Bancorp in a report on Tuesday, July 12th. Finally, Zacks Investment Research downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Monday, September 19th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eleven have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $45.21.

In related news, EVP Craig E. Gifford sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $41.87, for a total transaction of $104,675.00. Following the transaction, the executive vice president now owns 49,881 shares of the company’s stock, valued at $2,088,517.47. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Vice Chairman Gillern Jeffry H. Von sold 102,961 shares of the firm’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $42.00, for a total transaction of $4,324,362.00. Following the transaction, the insider now directly owns 178,422 shares in the company, valued at approximately $7,493,724. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

About U.S. Bancorp

U.S. Bancorp is a multi-state financial services holding company. The Company’s banking subsidiary, U.S. Bank National Association, is engaged in the general banking business in domestic markets. It provides a range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services.

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