Gateway Investment Advisers LLC reduced its position in shares of U.S. Bancorp (NYSE:USB – Get Rating) by 17.9% in the 1st quarter, HoldingsChannel reports. The firm owned 7,883 shares of the financial services provider’s stock after selling 1,721 shares during the period. Gateway Investment Advisers LLC’s holdings in U.S. Bancorp were worth $419,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Delos Wealth Advisors LLC acquired a new position in U.S. Bancorp during the fourth quarter worth about $29,000. Advocacy Wealth Management Services LLC grew its position in U.S. Bancorp by 72.3% during the first quarter. Advocacy Wealth Management Services LLC now owns 572 shares of the financial services provider’s stock worth $30,000 after buying an additional 240 shares during the period. CarsonAllaria Wealth Management Ltd. acquired a new position in U.S. Bancorp during the fourth quarter worth about $36,000. Atticus Wealth Management LLC acquired a new position in U.S. Bancorp during the fourth quarter worth about $36,000. Finally, Elmwood Wealth Management Inc. acquired a new position in U.S. Bancorp during the fourth quarter worth about $38,000. 74.92% of the stock is owned by hedge funds and other institutional investors.
NYSE:USB opened at $47.52 on Monday. The company has a quick ratio of 0.74, a current ratio of 0.75 and a debt-to-equity ratio of 0.73. The company has a market cap of $70.60 billion, a P/E ratio of 10.24, a P/E/G ratio of 1.65 and a beta of 0.98. U.S. Bancorp has a fifty-two week low of $44.79 and a fifty-two week high of $63.57. The firm’s 50 day moving average is $49.70 and its two-hundred day moving average is $54.27.
U.S. Bancorp (NYSE:USB – Get Rating) last posted its quarterly earnings results on Thursday, April 14th. The financial services provider reported $0.99 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.06. The company had revenue of $5.60 billion for the quarter, compared to the consensus estimate of $5.55 billion. U.S. Bancorp had a net margin of 30.41% and a return on equity of 15.24%. U.S. Bancorp’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.45 earnings per share. Research analysts forecast that U.S. Bancorp will post 4.43 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 3.87%. The ex-dividend date of this dividend is Wednesday, June 29th. U.S. Bancorp’s dividend payout ratio is currently 39.66%.
Several brokerages have weighed in on USB. UBS Group lowered shares of U.S. Bancorp from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $64.00 to $56.00 in a research report on Friday, April 8th. Wolfe Research lowered their price target on shares of U.S. Bancorp from $62.00 to $54.00 and set an “outperform” rating on the stock in a research report on Thursday, May 26th. Bank of America increased their price target on shares of U.S. Bancorp from $54.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, April 18th. Morgan Stanley lowered their price target on shares of U.S. Bancorp from $70.00 to $66.00 and set an “equal weight” rating on the stock in a research report on Monday, March 28th. Finally, StockNews.com started coverage on shares of U.S. Bancorp in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $62.77.
U.S. Bancorp Company Profile (Get Rating)
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 in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments.
Featured Stories
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 – Get Rating).
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.
Source: defenseworld.net
