Park Place Capital Corp Trims Stake in U.S. Bancorp (NYSE:USB)

Park Place Capital Corp reduced its position in U.S. Bancorp (NYSE:USB) by 41.3% in the 2nd quarter, Holdings Channel reports. The firm owned 14,229 shares of the financial services provider’s stock after selling 10,026 shares during the period. Park Place Capital Corp’s holdings in U.S. Bancorp were worth $565,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Financial Synergies Wealth Advisors Inc. acquired a new position in U.S. Bancorp in the 1st quarter valued at about $30,000. LRI Investments LLC acquired a new position in U.S. Bancorp in the 1st quarter valued at about $31,000. 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 during the period. Naples Money Management LLC acquired a new position in U.S. Bancorp in the 4th quarter valued at about $30,000. Finally, Crewe Advisors LLC acquired a new position in U.S. Bancorp in the 1st quarter valued at about $39,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, Director Aleem Gillani purchased 10,000 shares of U.S. Bancorp stock in a transaction on Thursday, July 18th. The shares were bought at an average price of $44.99 per share, with a total value of $449,900.00. Following the purchase, the director now directly owns 10,000 shares in the company, valued at approximately $449,900. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on USB. Barclays dropped their price target on U.S. Bancorp from $56.00 to $52.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. DA Davidson boosted their price target on U.S. Bancorp from $44.00 to $49.00 and gave the company a “neutral” rating in a research report on Thursday, July 18th. The Goldman Sachs Group boosted their target price on U.S. Bancorp from $42.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Morgan Stanley boosted their target price on U.S. Bancorp from $47.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Finally, Oppenheimer dropped their target price on U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating on the stock in a research report on Thursday, April 18th. Thirteen equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, U.S. Bancorp has an average rating of “Hold” and a consensus target price of $48.23.

U.S. Bancorp Price Performance

USB stock traded down $1.13 on Friday, reaching $42.35. The company had a trading volume of 8,485,453 shares, compared to its average volume of 9,838,976. U.S. Bancorp has a 1 year low of $30.47 and a 1 year high of $45.88. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.80 and a current ratio of 0.81. The company’s fifty day moving average is $41.10 and its 200 day moving average is $41.59. The company has a market cap of $66.09 billion, a P/E ratio of 14.02, a PEG ratio of 4.20 and a beta of 1.04.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.04. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. 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 prior year, the company earned $1.12 EPS. U.S. Bancorp’s revenue was down 4.3% on a year-over-year basis. On average, research analysts forecast that U.S. Bancorp will post 3.9 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date of this dividend was Friday, June 28th. U.S. Bancorp’s payout ratio is currently 64.90%.

U.S. Bancorp Company 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.