First Citizens Financial Corp Grows Stake in U.S. Bancorp (NYSE:USB)

First Citizens Financial Corp grew its holdings in U.S. Bancorp (NYSE:USB) by 5.6% during the second quarter, HoldingsChannel reports. The fund owned 14,002 shares of the financial services provider’s stock after purchasing an additional 737 shares during the period. First Citizens Financial Corp’s holdings in U.S. Bancorp were worth $516,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Montag A & Associates Inc. lifted its position in U.S. Bancorp by 8.4% during the 1st quarter. Montag A & Associates Inc. now owns 30,803 shares of the financial services provider’s stock worth $1,061,000 after acquiring an additional 2,383 shares during the period. Peapack Gladstone Financial Corp lifted its position in U.S. Bancorp by 1.0% during the 1st quarter. Peapack Gladstone Financial Corp now owns 94,869 shares of the financial services provider’s stock worth $3,269,000 after acquiring an additional 913 shares during the period. IBM Retirement Fund lifted its position in U.S. Bancorp by 59.1% during the 1st quarter. IBM Retirement Fund now owns 33,546 shares of the financial services provider’s stock worth $1,156,000 after acquiring an additional 12,459 shares during the period. Chemung Canal Trust Co. lifted its holdings in shares of U.S. Bancorp by 8.0% in the 2nd quarter. Chemung Canal Trust Co. now owns 6,477 shares of the financial services provider’s stock valued at $238,000 after buying an additional 477 shares during the period. Finally, State of Michigan Retirement System lifted its holdings in shares of U.S. Bancorp by 68.8% in the 1st quarter. State of Michigan Retirement System now owns 2,090,942 shares of the financial services provider’s stock valued at $72,033,000 after buying an additional 852,100 shares during the period. Institutional investors and hedge funds own 73.54% of the company’s stock.

U.S. Bancorp stock traded down $0.07 during mid-day trading on Friday, hitting $36.84. 7,707,372 shares of the company were exchanged, compared to its average volume of 6,725,943. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.84 and a quick ratio of 0.82. The business’s 50 day simple moving average is $36.90 and its two-hundred day simple moving average is $40.57. The company has a market capitalization of $55.60 billion, a P/E ratio of 10.98, a PEG ratio of 2.42 and a beta of 1.16. U.S. Bancorp has a 12-month low of $28.36 and a 12-month high of $61.11.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 15th. The financial services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.03. The company had revenue of $5.77 billion during the quarter, compared to the consensus estimate of $5.54 billion. U.S. Bancorp had a return on equity of 11.82% and a net margin of 19.70%. U.S. Bancorp’s revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.09 earnings per share. Equities research analysts predict that U.S. Bancorp will post 2.54 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend was Monday, June 29th. U.S. Bancorp’s payout ratio is 38.71%.

Several research firms have recently commented on USB. Royal Bank of Canada reissued a “buy” rating and issued a $42.00 price target on shares of U.S. Bancorp in a report on Monday, July 20th. UBS Group reduced their price target on U.S. Bancorp from $36.00 to $33.00 and set a “neutral” rating for the company in a report on Monday, May 4th. Wolfe Research began coverage on U.S. Bancorp in a report on Friday. They issued an “outperform” rating for the company. DA Davidson began coverage on U.S. Bancorp in a report on Thursday, June 11th. They issued a “buy” rating and a $47.00 price target for the company. Finally, Wells Fargo & Co raised their price target on U.S. Bancorp from $40.00 to $46.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $46.89.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

Recommended Story: How do buyers and sellers choose a strike price?

Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB).

Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

Receive News & Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.