Artisan Partners Limited Partnership grew its stake in shares of U.S. Bancorp (NYSE:USB – Free Report) by 58.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 3,105,262 shares of the financial services provider’s stock after acquiring an additional 1,146,325 shares during the period. Artisan Partners Limited Partnership owned about 0.20% of U.S. Bancorp worth $102,598,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Institute for Wealth Management LLC. increased its position in shares of U.S. Bancorp by 3.4% in the second quarter. Institute for Wealth Management LLC. now owns 11,300 shares of the financial services provider’s stock worth $373,000 after acquiring an additional 368 shares in the last quarter. New Mexico Educational Retirement Board grew its position in U.S. Bancorp by 8.2% during the 2nd quarter. New Mexico Educational Retirement Board now owns 67,661 shares of the financial services provider’s stock worth $2,236,000 after purchasing an additional 5,100 shares in the last quarter. Mission Creek Capital Partners Inc. raised its stake in U.S. Bancorp by 86.9% during the 1st quarter. Mission Creek Capital Partners Inc. now owns 13,832 shares of the financial services provider’s stock valued at $499,000 after purchasing an additional 6,430 shares during the period. Pacer Advisors Inc. boosted its position in shares of U.S. Bancorp by 2,686.8% in the first quarter. Pacer Advisors Inc. now owns 87,032 shares of the financial services provider’s stock worth $3,138,000 after buying an additional 83,909 shares during the period. Finally, WASHINGTON TRUST Co grew its holdings in shares of U.S. Bancorp by 13.9% during the second quarter. WASHINGTON TRUST Co now owns 2,590 shares of the financial services provider’s stock valued at $86,000 after buying an additional 317 shares in the last quarter. 75.40% of the stock is owned by institutional investors and hedge funds.
Insider Activity at U.S. Bancorp
In other news, insider James B. Kelligrew acquired 500 shares of the firm’s stock in a transaction on Sunday, August 27th. The shares were purchased at an average cost of $54.40 per share, with a total value of $27,200.00. Following the completion of the purchase, the insider now owns 940 shares of the company’s stock, valued at $51,136. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders bought 654 shares of company stock valued at $30,148 in the last ninety days. Insiders own 0.24% of the company’s stock.
U.S. Bancorp Stock Up 0.3 %
Shares of USB opened at $37.30 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.92. The company has a 50-day moving average price of $33.47 and a two-hundred day moving average price of $34.03. The stock has a market cap of $58.08 billion, a price-to-earnings ratio of 11.10, a P/E/G ratio of 1.72 and a beta of 1.02. U.S. Bancorp has a 12 month low of $27.27 and a 12 month high of $49.95.
U.S. Bancorp (NYSE:USB – Get Free Report) last posted its earnings results on Wednesday, October 18th. The financial services provider reported $1.05 EPS for the quarter, topping the consensus estimate of $0.96 by $0.09. U.S. Bancorp had a return on equity of 15.80% and a net margin of 14.39%. The business had revenue of $7.03 billion during the quarter, compared to the consensus estimate of $7.02 billion. During the same quarter last year, the company earned $1.18 EPS. U.S. Bancorp’s revenue was up 11.2% on a year-over-year basis. Equities analysts predict that U.S. Bancorp will post 4.32 EPS for the current fiscal year.
U.S. Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date of this dividend was Thursday, September 28th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 57.14%.
Analysts Set New Price Targets
A number of research firms have issued reports on USB. Morgan Stanley cut their target price on shares of U.S. Bancorp from $45.00 to $44.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 3rd. StockNews.com assumed coverage on shares of U.S. Bancorp in a research note on Thursday, October 5th. They issued a “sell” rating for the company. HSBC assumed coverage on shares of U.S. Bancorp in a research report on Thursday, September 7th. They set a “hold” rating and a $30.00 target price on the stock. Raymond James upgraded U.S. Bancorp from an “underperform” rating to a “market perform” rating in a report on Thursday, July 20th. Finally, Oppenheimer lifted their price target on shares of U.S. Bancorp from $60.00 to $63.00 and gave the company an “outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $45.90.
Get Our Latest Research Report on U.S. Bancorp
About U.S. Bancorp
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.
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