Fort Washington Investment Advisors Inc. OH lifted its stake in U.S. Bancorp (NYSE:USB – Free Report) by 15.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,058,763 shares of the financial services provider’s stock after buying an additional 270,457 shares during the period. Fort Washington Investment Advisors Inc. OH owned approximately 0.13% of U.S. Bancorp worth $68,063,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BCK Partners Inc. purchased a new position in U.S. Bancorp during the 1st quarter worth approximately $2,514,000. Acadian Asset Management LLC grew its position in shares of U.S. Bancorp by 3.0% during the first quarter. Acadian Asset Management LLC now owns 9,397 shares of the financial services provider’s stock worth $499,000 after acquiring an additional 276 shares during the last quarter. Vontobel Holding Ltd. increased its holdings in shares of U.S. Bancorp by 20.8% in the 1st quarter. Vontobel Holding Ltd. now owns 21,314 shares of the financial services provider’s stock valued at $1,176,000 after acquiring an additional 3,663 shares during the period. Prudential PLC acquired a new position in shares of U.S. Bancorp in the 1st quarter valued at $1,731,000. Finally, Candriam Luxembourg S.C.A. raised its position in U.S. Bancorp by 5.9% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 86,048 shares of the financial services provider’s stock valued at $4,573,000 after purchasing an additional 4,827 shares during the last quarter. 75.40% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts have commented on the stock. Bank of America dropped their price objective on shares of U.S. Bancorp from $45.00 to $40.00 in a research note on Tuesday, October 10th. Morgan Stanley reduced their price objective on U.S. Bancorp from $45.00 to $44.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 3rd. Stephens downgraded U.S. Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, December 20th. Jefferies Financial Group cut their price target on U.S. Bancorp from $36.00 to $31.00 in a research note on Tuesday, October 10th. Finally, Odeon Capital Group raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $48.93 price target for the company in a report on Thursday, December 14th. Thirteen investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, U.S. Bancorp currently has an average rating of “Hold” and an average target price of $45.25.
View Our Latest Stock Report on USB
Insider Buying and Selling at U.S. Bancorp
In other news, insider Terrance R. Dolan sold 22,756 shares of the stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $45.04, for a total value of $1,024,930.24. Following the sale, the insider now directly owns 144,236 shares in the company, valued at $6,496,389.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Shailesh M. Kotwal sold 2,046 shares of U.S. Bancorp stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $40.34, for a total transaction of $82,535.64. Following the completion of the sale, the insider now owns 112,722 shares in the company, valued at approximately $4,547,205.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Terrance R. Dolan sold 22,756 shares of the business’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $45.04, for a total transaction of $1,024,930.24. Following the completion of the transaction, the insider now directly owns 144,236 shares of the company’s stock, valued at approximately $6,496,389.44. The disclosure for this sale can be found here. In the last three months, insiders sold 39,856 shares of company stock worth $1,712,319. 0.24% of the stock is owned by corporate insiders.
U.S. Bancorp Price Performance
Shares of NYSE:USB traded down $0.17 during trading on Friday, hitting $42.64. 7,242,508 shares of the stock were exchanged, compared to its average volume of 8,609,827. The company has a market cap of $66.39 billion, a PE ratio of 13.00, a P/E/G ratio of 2.17 and a beta of 1.06. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.05. The company has a fifty day moving average price of $41.47 and a two-hundred day moving average price of $37.49. U.S. Bancorp has a 12-month low of $27.27 and a 12-month high of $49.92.
U.S. Bancorp (NYSE:USB – Get Free Report) last posted its earnings results on Wednesday, January 17th. The financial services provider reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.28. U.S. Bancorp had a return on equity of 14.89% and a net margin of 13.36%. The company had revenue of $6.76 billion for the quarter, compared to the consensus estimate of $6.85 billion. During the same period in the previous year, the business earned $1.20 earnings per share. U.S. Bancorp’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, analysts forecast that U.S. Bancorp will post 3.95 EPS for the current year.
U.S. Bancorp Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 4.60%. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, December 28th. U.S. Bancorp’s dividend payout ratio is presently 59.76%.
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider U.S. Bancorp, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and U.S. Bancorp wasn’t on the list.
While U.S. Bancorp currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Click the link below and we’ll send you MarketBeat’s list of seven stocks and why their long-term outlooks are very promising.
Source: marketbeat.com
