Pekin Hardy Strauss Inc. Sells 300 Shares of U.S. Bancorp (NYSE:USB)

Pekin Hardy Strauss Inc. reduced its position in shares of U.S. Bancorp (NYSE:USB) by 4.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 6,669 shares of the financial services provider’s stock after selling 300 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in U.S. Bancorp were worth $265,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in USB. Redwood Wealth Management Group LLC bought a new stake in U.S. Bancorp during the second quarter worth $25,000. Financial Synergies Wealth Advisors Inc. bought a new stake in U.S. Bancorp during the first quarter worth $30,000. 1620 Investment Advisors Inc. bought a new stake in U.S. Bancorp during the second quarter worth $30,000. Eagle Bay Advisors LLC raised its position 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 acquiring an additional 331 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in U.S. Bancorp during the first quarter worth $31,000. 77.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

USB has been the topic of several analyst reports. JPMorgan Chase & Co. lowered shares of U.S. Bancorp from an “overweight” rating to a “neutral” rating and set a $43.50 price target on the stock. in a research report on Thursday, June 27th. The Goldman Sachs Group decreased their price objective on shares of U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Morgan Stanley upped their price objective on shares of U.S. Bancorp from $47.00 to $54.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Jefferies Financial Group decreased their price objective on shares of U.S. Bancorp from $43.00 to $42.00 and set a “hold” rating on the stock in a report on Wednesday, July 3rd. Finally, Citigroup upped their price objective on shares of U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $48.18.

U.S. Bancorp Trading Down 0.0 %

USB opened at $44.68 on Wednesday. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $47.31. The company has a 50-day simple moving average of $44.14 and a 200 day simple moving average of $42.25. 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 stock has a market capitalization of $69.72 billion, a price-to-earnings ratio of 14.79, a P/E/G ratio of 4.36 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, topping 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 business had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.81 billion. During the same quarter in the prior year, the business posted $1.12 earnings per share. U.S. Bancorp’s revenue was down 4.3% compared to the same quarter last year. Analysts predict that U.S. Bancorp will post 3.87 EPS for the current fiscal 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 given a dividend of $0.50 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.00 annualized dividend and a yield of 4.48%. U.S. Bancorp’s dividend payout ratio is currently 66.23%.

Insider Transactions at U.S. Bancorp

In related news, Director Aleem Gillani bought 10,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was purchased at an average price of $44.99 per share, with a total value of $449,900.00. Following the completion of the acquisition, the director now 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 through this link. 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.