Bank of America Corp DE Grows Position in U.S. Physical Therapy, Inc. $USPH

Key Points

• Bank of America increased its U.S. Physical Therapy stake by 10.9% in the first quarter, reaching 554,621 shares valued at approximately $41.6 million, or 3.64% of the company.
• U.S. Physical Therapy reported quarterly revenue of $214.1 million, up 8.5% year over year, but adjusted earnings of $0.75 per share missed analyst expectations of $0.81. The stock traded at $82.74, while analysts maintained a “Moderate Buy” consensus with an average target of $99.50.
• The company declared a quarterly dividend of $0.46 per share, equivalent to an annualized $1.84 payout and a 2.2% yield. Director Peter Francis Minan also purchased 492 shares, increasing his holdings by 20.24%.

Bank of America Corp DE lifted its holdings in U.S. Physical Therapy, Inc. (NYSE:USPH - Free Report) by 10.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 554,621 shares of the company's stock after purchasing an additional 54,656 shares during the period. Bank of America Corp DE owned about 3.64% of U.S. Physical Therapy worth $41,574,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hantz Financial Services Inc. boosted its position in U.S. Physical Therapy by 56.4% during the fourth quarter. Hantz Financial Services Inc. now owns 366 shares of the company's stock valued at $29,000 after purchasing an additional 132 shares in the last quarter. Advisory Services Network LLC acquired a new stake in U.S. Physical Therapy in the third quarter valued at approximately $39,000. iSAM Funds UK Ltd acquired a new stake in U.S. Physical Therapy in the third quarter valued at approximately $52,000. Parallel Advisors LLC grew its holdings in U.S. Physical Therapy by 75.2% in the first quarter. Parallel Advisors LLC now owns 785 shares of the company's stock worth $59,000 after purchasing an additional 337 shares during the last quarter. Finally, Huntington National Bank grew its holdings in U.S. Physical Therapy by 15.4% in the fourth quarter. Huntington National Bank now owns 1,052 shares of the company's stock worth $82,000 after purchasing an additional 140 shares during the last quarter.

Insiders Place Their Bets

In other news, Director Peter Francis Minan purchased 492 shares of U.S. Physical Therapy stock in a transaction dated Monday, June 8th. The shares were purchased at an average price of $63.14 per share, with a total value of $31,064.88. Following the transaction, the director owned 2,923 shares in the company, valued at $184,558.22. This represents a 20.24% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.40% of the stock is owned by insiders.

U.S. Physical Therapy Trading Up 1.0%

Shares of U.S. Physical Therapy stock opened at $82.74 on Friday. The firm has a 50-day simple moving average of $71.75 and a two-hundred day simple moving average of $74.03. The company has a market cap of $1.23 billion, a P/E ratio of 486.76, a price-to-earnings-growth ratio of 2.25 and a beta of 1.13. U.S. Physical Therapy, Inc. has a fifty-two week low of $58.19 and a fifty-two week high of $93.50. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.19 and a current ratio of 1.27.

U.S. Physical Therapy (NYSE:USPH - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.81 by ($0.06). U.S. Physical Therapy had a net margin of 3.97% and a return on equity of 9.39%. The company had revenue of $214.06 million during the quarter, compared to analyst estimates of $211.36 million. During the same period in the prior year, the business posted $0.81 EPS. U.S. Physical Therapy's revenue was up 8.5% compared to the same quarter last year. As a group, equities analysts predict that U.S. Physical Therapy, Inc. will post 2.96 earnings per share for the current fiscal year.

U.S. Physical Therapy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 11th. Shareholders of record on Friday, August 21st will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, August 21st. This represents a $1.84 dividend on an annualized basis and a yield of 2.2%. U.S. Physical Therapy's payout ratio is 1,082.35%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on USPH shares. Citigroup restated an "outperform" rating on shares of U.S. Physical Therapy in a research note on Monday. Barrington Research lifted their target price on shares of U.S. Physical Therapy from $90.00 to $98.00 and gave the stock an "outperform" rating in a research note on Monday. Zacks Research raised shares of U.S. Physical Therapy from a "strong sell" rating to a "hold" rating in a research report on Wednesday, May 27th. Citizens Jmp reissued a "market outperform" rating and set a $98.00 target price on shares of U.S. Physical Therapy in a research report on Wednesday, June 24th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of U.S. Physical Therapy in a research note on Friday, May 29th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $99.50.

U.S. Physical Therapy Company Profile

U.S. Physical Therapy, Inc NYSE: USPH is a leading owner and operator of outpatient physical therapy clinics across the United States. The company delivers rehabilitative care to patients recovering from orthopedic injuries, neurological disorders and chronic conditions. Its core services include one-on-one physical therapy sessions, aquatic therapy, occupational therapy, massage therapy and sports medicine programs designed to restore mobility and enhance quality of life.

In addition to traditional rehabilitation services, U.S.

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