Jeppson Wealth Management LLC Lowers Stock Position in U.S. Bancorp (NYSE:USB)

Jeppson Wealth Management LLC lowered its position in U.S. Bancorp (NYSE:USB) by 3.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,054 shares of the financial services provider’s stock after selling 248 shares during the period. Jeppson Wealth Management LLC’s holdings in U.S. Bancorp were worth $240,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Arizona State Retirement System raised its holdings in shares of U.S. Bancorp by 1.0% in the second quarter. Arizona State Retirement System now owns 451,764 shares of the financial services provider’s stock valued at $17,935,000 after purchasing an additional 4,670 shares during the last quarter. Denver PWM LLC purchased a new stake in shares of U.S. Bancorp in the second quarter valued at about $80,000. Kornitzer Capital Management Inc. KS raised its holdings in shares of U.S. Bancorp by 1.3% in the second quarter. Kornitzer Capital Management Inc. KS now owns 56,990 shares of the financial services provider’s stock valued at $2,263,000 after purchasing an additional 742 shares during the last quarter. National Bank of Canada FI raised its holdings in shares of U.S. Bancorp by 313.8% in the second quarter. National Bank of Canada FI now owns 2,698,642 shares of the financial services provider’s stock valued at $105,903,000 after purchasing an additional 2,046,522 shares during the last quarter. Finally, Chase Investment Counsel Corp raised its holdings in shares of U.S. Bancorp by 15.8% in the second quarter. Chase Investment Counsel Corp now owns 10,666 shares of the financial services provider’s stock valued at $423,000 after purchasing an additional 1,459 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of NYSE:USB traded up $0.31 during midday trading on Friday, reaching $45.85. 223,181 shares of the company traded hands, compared to its average volume of 8,304,171. The company has a quick ratio of 0.80, a current ratio of 0.81 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 has a market capitalization of $71.55 billion, a price-to-earnings ratio of 15.08, a price-to-earnings-growth ratio of 4.57 and a beta of 1.04. The firm’s fifty day moving average price is $43.31 and its two-hundred day moving average price is $42.05.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.04. The business 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%. The company’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.12 EPS. On average, equities analysts expect that U.S. Bancorp will post 3.89 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $0.49 dividend. The ex-dividend date was Friday, June 28th. This represents a $1.96 dividend on an annualized basis and a yield of 4.27%. U.S. Bancorp’s dividend payout ratio is currently 64.90%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on USB shares. Royal Bank of Canada increased their price target on shares of U.S. Bancorp from $47.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, July 18th. Citigroup upped their price objective 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. Morgan Stanley boosted their target price 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. DA Davidson increased their price target on U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, July 18th. Finally, Evercore ISI boosted their price objective on U.S. Bancorp from $45.00 to $48.00 and gave the company an “in-line” rating in a research note on Tuesday, June 25th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $48.23.

Insiders Place Their Bets

In other U.S. Bancorp news, Director Aleem Gillani bought 10,000 shares of the firm’s stock in a transaction on Thursday, July 18th. The shares were acquired at an average cost of $44.99 per share, for a total transaction 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 acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate 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.