Probity Advisors Inc. Has $2.18 Million Stock Holdings in U.S. Bancorp $USB

Key Points

• Probity Advisors Inc. increased its stake in U.S. Bancorp by 27.5% during the second quarter, reaching a total of $2.18 million in holdings with 48,215 shares.
• U.S. Bancorp reported earnings of $1.22 per share, exceeding analysts' expectations, with a revenue of $7.34 billion for the quarter, which is a 6.8% increase compared to the previous year.
• The company recently raised its quarterly dividend to $0.52, reflecting a dividend yield of 4.4%, up from the previous $0.50 per share.

Probity Advisors Inc. increased its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 27.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,215 shares of the financial services provider's stock after purchasing an additional 10,394 shares during the period. Probity Advisors Inc.'s holdings in U.S. Bancorp were worth $2,182,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Curbstone Financial Management Corp grew its stake in U.S. Bancorp by 0.6% during the second quarter. Curbstone Financial Management Corp now owns 39,982 shares of the financial services provider's stock worth $1,809,000 after purchasing an additional 222 shares during the period. Mechanics Financial Corp grew its stake in U.S. Bancorp by 5.3% during the second quarter. Mechanics Financial Corp now owns 4,806 shares of the financial services provider's stock worth $217,000 after purchasing an additional 240 shares during the period. Northern Financial Advisors Inc grew its stake in U.S. Bancorp by 5.0% during the second quarter. Northern Financial Advisors Inc now owns 5,033 shares of the financial services provider's stock worth $228,000 after purchasing an additional 241 shares during the period. Lawson Kroeker Investment Management Inc. NE grew its stake in U.S. Bancorp by 0.5% during the second quarter. Lawson Kroeker Investment Management Inc. NE now owns 46,109 shares of the financial services provider's stock worth $2,086,000 after purchasing an additional 249 shares during the period. Finally, Bestgate Wealth Advisors LLC grew its stake in U.S. Bancorp by 3.3% during the first quarter. Bestgate Wealth Advisors LLC now owns 8,031 shares of the financial services provider's stock worth $339,000 after purchasing an additional 253 shares during the period. Institutional investors and hedge funds own 77.60% of the company's stock.

U.S. Bancorp Stock Up 3.1%

USB stock opened at $47.10 on Tuesday. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.10. The stock's 50 day moving average is $47.98 and its 200-day moving average is $44.94. The firm has a market capitalization of $73.29 billion, a PE ratio of 10.78, a P/E/G ratio of 1.31 and a beta of 1.06.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share for the quarter, beating analysts' consensus estimates of $1.11 by $0.11. U.S. Bancorp had a return on equity of 13.34% and a net margin of 16.89%.The company had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same quarter last year, the company earned $1.03 earnings per share. The company's revenue for the quarter was up 6.8% on a year-over-year basis. Sell-side analysts expect that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a $0.52 dividend. This is a boost from U.S. Bancorp's previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date was Tuesday, September 30th. U.S. Bancorp's dividend payout ratio is 47.60%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on USB shares. Wall Street Zen raised U.S. Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Wells Fargo & Company raised their price objective on U.S. Bancorp from $50.00 to $52.00 and gave the company an "overweight" rating in a research note on Friday. Raymond James Financial raised U.S. Bancorp from an "outperform" rating to a "strong-buy" rating and raised their price objective for the company from $51.00 to $57.00 in a research note on Monday, July 7th. DA Davidson raised their price objective on U.S. Bancorp from $57.00 to $59.00 and gave the company a "buy" rating in a research note on Friday. Finally, The Goldman Sachs Group set a $52.00 price objective on U.S. Bancorp and gave the company a "neutral" rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $54.48.

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.

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