Morgan Stanley grew its position in U.S. Bancorp (NYSE:USB – Free Report) by 4.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,129,558 shares of the financial services provider’s stock after buying an additional 751,865 shares during the period. Morgan Stanley owned approximately 1.16% of U.S. Bancorp worth $599,363,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in USB. Moneta Group Investment Advisors LLC grew its holdings in shares of 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 buying an additional 60,227,825 shares during the period. Mufg Bank LTD. boosted its stake in U.S. Bancorp by 54.1% in the 3rd quarter. Mufg Bank LTD. now owns 68,374,155 shares of the financial services provider’s stock worth $2,260,450,000 after purchasing an additional 24,000,000 shares during the period. Aristotle Capital Management LLC boosted its stake in U.S. Bancorp by 266.6% in the 3rd quarter. Aristotle Capital Management LLC now owns 23,467,699 shares of the financial services provider’s stock worth $775,842,000 after purchasing an additional 17,066,479 shares during the period. Norges Bank acquired a new position in U.S. Bancorp in the 4th quarter worth $644,436,000. Finally, BlackRock Inc. boosted its stake 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 worth $3,657,692,000 after purchasing an additional 6,307,085 shares during the period. Institutional investors and hedge funds own 75.40% of the company’s stock.
Analyst Ratings Changes
A number of brokerages recently weighed in on USB. Wells Fargo & Company upped their target price on shares of U.S. Bancorp from $43.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, December 14th. StockNews.com cut shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, February 20th. Robert W. Baird cut shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $52.00 price target on the stock. in a research report on Friday, December 15th. The Goldman Sachs Group boosted their price target on shares of U.S. Bancorp from $37.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 19th. Finally, Odeon Capital Group raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $48.93 price target on the stock in a research report on Thursday, December 14th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, U.S. Bancorp presently has a consensus rating of “Hold” and a consensus target price of $45.35.
Get Our Latest Analysis on U.S. Bancorp
U.S. Bancorp Stock Down 0.2 %
U.S. Bancorp stock opened at $43.26 on Friday. The stock has a market cap of $67.40 billion, a P/E ratio of 13.19, a P/E/G ratio of 2.21 and a beta of 1.04. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.05. U.S. Bancorp has a twelve month low of $27.27 and a twelve month high of $45.85. The company’s 50-day moving average price is $41.89 and its two-hundred day moving average price is $38.21.
U.S. Bancorp (NYSE:USB – Get Free Report) last released its quarterly earnings results on Wednesday, January 17th. The financial services provider reported $0.99 earnings per share for the quarter, beating 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 firm had revenue of $6.76 billion for the quarter, compared to analysts’ expectations of $6.85 billion. During the same period in the prior year, the firm earned $1.20 EPS. The business’s revenue was up 6.2% on a year-over-year basis. As a group, analysts expect that U.S. Bancorp will post 3.92 EPS for the current year.
U.S. Bancorp Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 29th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date of this dividend was Thursday, December 28th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.48. U.S. Bancorp’s dividend payout ratio is presently 59.76%.
Insiders Place Their Bets
In related news, insider Timothy A. Welsh sold 12,100 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $40.33, for a total value of $487,993.00. Following the transaction, the insider now directly owns 106,958 shares of the company’s stock, valued at $4,313,616.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Timothy A. Welsh sold 12,100 shares of U.S. Bancorp stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $40.33, for a total value of $487,993.00. Following the transaction, the insider now directly owns 106,958 shares of the company’s stock, valued at $4,313,616.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Terrance R. Dolan sold 22,756 shares of U.S. Bancorp stock in a transaction that occurred on 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 in the company, valued at $6,496,389.44. The disclosure for this sale can be found here. Insiders have sold a total of 85,067 shares of company stock worth $3,643,369 in the last quarter. Corporate insiders own 0.24% of the company’s stock.
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 through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.
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