Financial Advantage Inc. reduced its position in shares of U.S. Bancorp (NYSE:USB – Free Report) by 39.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,675 shares of the financial services provider’s stock after selling 30,756 shares during the period. U.S. Bancorp accounts for approximately 2.4% of Financial Advantage Inc.’s holdings, making the stock its 19th biggest position. Financial Advantage Inc.’s holdings in U.S. Bancorp were worth $1,576,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of USB. Moneta Group Investment Advisors LLC boosted its holdings in U.S. Bancorp by 130,768.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 60,273,882 shares of the financial services provider’s stock valued at $2,628,544,000 after purchasing an additional 60,227,825 shares during the period. Norges Bank bought a new stake in U.S. Bancorp in the 4th quarter valued at $644,436,000. BlackRock Inc. boosted its holdings in U.S. Bancorp by 6.0% in the 2nd quarter. BlackRock Inc. now owns 110,704,962 shares of the financial services provider’s stock valued at $3,657,692,000 after purchasing an additional 6,307,085 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its holdings in U.S. Bancorp by 58.1% in the 2nd quarter. Hotchkis & Wiley Capital Management LLC now owns 16,116,140 shares of the financial services provider’s stock valued at $532,477,000 after purchasing an additional 5,922,710 shares during the period. Finally, Barclays PLC boosted its holdings in U.S. Bancorp by 120.4% in the 3rd quarter. Barclays PLC now owns 8,810,834 shares of the financial services provider’s stock valued at $291,285,000 after purchasing an additional 4,813,976 shares during the period. 75.40% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the stock. Morgan Stanley increased their price objective on shares of U.S. Bancorp from $44.00 to $45.00 and gave the company an “equal weight” rating in a research note on Tuesday. TheStreet upgraded shares of U.S. Bancorp from a “c+” rating to a “b-” rating in a research note on Tuesday, December 26th. Robert W. Baird cut shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $52.00 price objective for the company. in a research note on Friday, December 15th. UBS Group increased their price objective on shares of U.S. Bancorp from $35.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, January 17th. Finally, Royal Bank of Canada increased their price objective on shares of U.S. Bancorp from $43.00 to $47.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. Thirteen research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $45.35.
Check Out Our Latest Stock Report on USB
U.S. Bancorp Price Performance
Shares of NYSE USB traded down $0.91 during trading on Wednesday, reaching $42.43. The company had a trading volume of 4,586,952 shares, compared to its average volume of 9,190,393. U.S. Bancorp has a 52 week low of $27.27 and a 52 week high of $49.92. The stock has a market cap of $66.06 billion, a PE ratio of 13.21, a PEG ratio of 2.17 and a beta of 1.06. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.81 and a current ratio of 0.81. The business’s 50 day moving average price is $41.70 and its 200-day moving average price is $37.63.
U.S. Bancorp (NYSE:USB – Get Free Report) last issued its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.71 by $0.28. U.S. Bancorp had a net margin of 13.36% and a return on equity of 14.89%. The company had revenue of $6.76 billion during the quarter, compared to analysts’ expectations of $6.85 billion. During the same quarter in the previous year, the company earned $1.20 EPS. U.S. Bancorp’s revenue was up 6.2% on a year-over-year basis. Analysts expect that U.S. Bancorp will post 3.95 earnings per share for the current year.
U.S. Bancorp Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th were given a dividend of $0.49 per share. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, December 28th. This represents a $1.96 annualized dividend and a dividend yield of 4.62%. U.S. Bancorp’s payout ratio is currently 59.76%.
Insider Transactions at U.S. Bancorp
In other news, insider Shailesh M. Kotwal sold 2,046 shares of U.S. Bancorp stock in a transaction that occurred on Monday, December 11th. The shares were 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Shailesh M. Kotwal sold 2,954 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $39.56, for a total transaction of $116,860.24. Following the completion of the transaction, the insider now owns 119,768 shares in the company, valued at $4,738,022.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Shailesh M. Kotwal sold 2,046 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The shares were sold at an average price of $40.34, for a total transaction of $82,535.64. Following the transaction, the insider now owns 112,722 shares of the company’s stock, valued at approximately $4,547,205.48. The disclosure for this sale can be found here. Insiders sold a total of 39,856 shares of company stock worth $1,712,319 in the last quarter. 0.24% of the stock is owned by company insiders.
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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