Hsbc Holdings PLC lessened its stake in shares of U.S. Bancorp (NYSE:USB – Free Report) by 12.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,115,019 shares of the financial services provider’s stock after selling 311,331 shares during the period. Hsbc Holdings PLC owned 0.14% of U.S. Bancorp worth $69,868,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Institute for Wealth Management LLC. raised its holdings in U.S. Bancorp by 3.4% during the second quarter. Institute for Wealth Management LLC. now owns 11,300 shares of the financial services provider’s stock worth $373,000 after buying an additional 368 shares during the last quarter. New Mexico Educational Retirement Board raised its holdings in U.S. Bancorp by 8.2% during the second quarter. New Mexico Educational Retirement Board now owns 67,661 shares of the financial services provider’s stock worth $2,236,000 after buying an additional 5,100 shares during the last quarter. Mission Creek Capital Partners Inc. raised its holdings in U.S. Bancorp by 86.9% during the first quarter. Mission Creek Capital Partners Inc. now owns 13,832 shares of the financial services provider’s stock worth $499,000 after buying an additional 6,430 shares during the last quarter. Pacer Advisors Inc. raised its holdings in U.S. Bancorp by 2,686.8% during 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 last quarter. Finally, WASHINGTON TRUST Co raised its holdings in 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 worth $86,000 after buying an additional 317 shares during the last quarter. Institutional investors and hedge funds own 75.40% of the company’s stock.
Insiders Place Their Bets
In other U.S. Bancorp news, insider James B. Kelligrew bought 500 shares of the business’s stock in a transaction on Sunday, August 27th. The stock was purchased at an average price of $54.40 per share, for a total transaction of $27,200.00. Following the completion of the transaction, the insider now directly owns 940 shares of the company’s stock, valued at $51,136. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders acquired 654 shares of company stock worth $30,148 over the last quarter. 0.24% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several research firms have weighed in on USB. The Goldman Sachs Group lowered their price objective on shares of U.S. Bancorp from $41.00 to $35.00 and set a “neutral” rating on the stock in a report on Monday, October 2nd. Oppenheimer upped their price objective on shares of U.S. Bancorp from $60.00 to $63.00 and gave the stock an “outperform” rating in a report on Thursday, November 16th. HSBC started coverage on shares of U.S. Bancorp in a report on Thursday, September 7th. They issued a “hold” rating and a $30.00 target price for the company. Morgan Stanley lowered 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 report on Tuesday, October 3rd. Finally, Piper Sandler lowered their target price on shares of U.S. Bancorp from $41.00 to $40.00 and set a “neutral” rating for the company in a report on Friday, September 15th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, U.S. Bancorp has a consensus rating of “Hold” and a consensus price target of $45.90.
Check Out Our Latest Stock Report on U.S. Bancorp
U.S. Bancorp Price Performance
USB opened at $37.19 on Friday. The firm has a market cap of $57.91 billion, a P/E ratio of 11.07, a PEG ratio of 1.71 and a beta of 1.02. The firm has a 50-day moving average of $33.63 and a 200 day moving average of $34.31. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.80 and a current ratio of 0.80. U.S. Bancorp has a fifty-two week low of $27.27 and a fifty-two week high of $49.95.
U.S. Bancorp (NYSE:USB – Get Free Report) last issued its earnings results on Wednesday, October 18th. The financial services provider reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.09. The firm had revenue of $7.03 billion during the quarter, compared to analyst estimates of $7.02 billion. U.S. Bancorp had a net margin of 14.39% and a return on equity of 15.80%. The company’s quarterly revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the business earned $1.18 earnings per share. On average, research analysts expect that U.S. Bancorp will post 4.32 EPS for the current year.
U.S. Bancorp Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were given a dividend of $0.48 per share. The ex-dividend date was Thursday, September 28th. This represents a $1.92 dividend on an annualized basis and a yield of 5.16%. U.S. Bancorp’s dividend payout ratio is presently 57.14%.
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 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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