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% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,669 shares of the financial services provider’s stock after selling 300 shares during the period. Pekin Hardy Strauss Inc.’s holdings in U.S. Bancorp were worth $265,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Redwood Wealth Management Group LLC acquired a new stake in U.S. Bancorp in the 2nd quarter valued at about $25,000. Financial Synergies Wealth Advisors Inc. acquired a new stake in U.S. Bancorp in the 1st quarter valued at about $30,000. 1620 Investment Advisors Inc. acquired a new stake in U.S. Bancorp in the 2nd quarter valued at about $30,000. Eagle Bay Advisors LLC increased its position in U.S. Bancorp by 93.2% in the 1st quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 331 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in U.S. Bancorp in the 1st quarter valued at about $31,000. 77.60% of the stock is owned by institutional investors.

U.S. Bancorp Stock Performance

Shares of USB opened at $44.68 on Wednesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. U.S. Bancorp has a twelve month low of $30.47 and a twelve month high of $47.31. The firm’s 50 day moving average price is $44.14 and its two-hundred day moving average price is $42.25. The firm has a market cap of $69.72 billion, a P/E ratio of 14.79, a PEG ratio of 4.36 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $6.87 billion for the quarter, compared to analyst estimates of $6.81 billion. During the same quarter in the previous year, the firm posted $1.12 earnings per share. The business’s revenue was down 4.3% on a year-over-year basis. On average, analysts forecast that U.S. Bancorp will post 3.87 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 4.48%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.49. U.S. Bancorp’s payout ratio is presently 66.23%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Citigroup raised their price objective on shares of U.S. Bancorp from $45.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. UBS Group raised their price objective on shares of U.S. Bancorp from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. The Goldman Sachs Group lowered 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 research report on Wednesday, September 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $48.00 price target on shares of U.S. Bancorp in a research report on Friday, September 13th. Finally, StockNews.com upgraded shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, July 17th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, U.S. Bancorp has a consensus rating of “Hold” and a consensus target price of $48.18.

Insider Buying and Selling at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani acquired 10,000 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were acquired at an average price of $44.99 per share, with a total value of $449,900.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $449,900. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.