Exane Derivatives purchased a new position in shares of U.S. Bancorp (NYSE:USB – Get Rating) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 766 shares of the financial services provider’s stock, valued at approximately $41,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wendell David Associates Inc. lifted its holdings in shares of U.S. Bancorp by 12.9% during the first quarter. Wendell David Associates Inc. now owns 6,123 shares of the financial services provider’s stock worth $325,000 after purchasing an additional 700 shares during the period. Bogart Wealth LLC lifted its holdings in U.S. Bancorp by 15.7% in the first quarter. Bogart Wealth LLC now owns 117,458 shares of the financial services provider’s stock valued at $6,243,000 after acquiring an additional 15,963 shares during the period. Monte Financial Group LLC lifted its holdings in U.S. Bancorp by 3.1% in the first quarter. Monte Financial Group LLC now owns 94,281 shares of the financial services provider’s stock valued at $5,011,000 after acquiring an additional 2,861 shares during the period. Grove Bank & Trust lifted its holdings in U.S. Bancorp by 40.1% in the first quarter. Grove Bank & Trust now owns 5,272 shares of the financial services provider’s stock valued at $280,000 after acquiring an additional 1,509 shares during the period. Finally, Matrix Asset Advisors Inc. NY lifted its holdings in U.S. Bancorp by 9.7% in the first quarter. Matrix Asset Advisors Inc. NY now owns 488,308 shares of the financial services provider’s stock valued at $25,954,000 after acquiring an additional 43,068 shares during the period. 74.92% of the stock is owned by hedge funds and other institutional investors.
Shares of USB opened at $46.53 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.74 and a current ratio of 0.75. The company has a market capitalization of $69.13 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 1.62 and a beta of 1.00. The company’s 50 day simple moving average is $48.78 and its 200 day simple moving average is $53.58. U.S. Bancorp has a 1 year low of $44.79 and a 1 year high of $63.57.
U.S. Bancorp (NYSE:USB – Get Rating) last announced its quarterly earnings data on Thursday, April 14th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.06. The business 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%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.45 earnings per share. Equities analysts expect that U.S. Bancorp will post 4.44 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Wednesday, June 29th. U.S. Bancorp’s payout ratio is 39.66%.
USB has been the subject of a number of recent analyst reports. Royal Bank of Canada reduced their target price on U.S. Bancorp from $66.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, July 1st. Wells Fargo & Company reduced their target price on U.S. Bancorp from $70.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, July 1st. Oppenheimer raised their target price on U.S. Bancorp from $67.00 to $72.00 in a report on Tuesday, May 3rd. UBS Group downgraded U.S. Bancorp from a “buy” rating to a “neutral” rating and cut their price target for the stock from $64.00 to $56.00 in a research note on Friday, April 8th. Finally, Wolfe Research cut their price target on U.S. Bancorp from $62.00 to $54.00 and set an “outperform” rating for the company in a research note on Thursday, May 26th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $62.14.
U.S. Bancorp 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