Pinebridge Investments L.P. reduced its stake in U.S. Bancorp (NYSE:USB – Free Report) by 56.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 120,142 shares of the financial services provider’s stock after selling 157,260 shares during the quarter. Pinebridge Investments L.P.’s holdings in U.S. Bancorp were worth $3,969,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Institute for Wealth Management LLC. lifted its holdings in shares of U.S. Bancorp by 3.4% in the 2nd 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 during the last quarter. New Mexico Educational Retirement Board increased its stake 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 buying an additional 5,100 shares during the period. Mission Creek Capital Partners Inc. increased 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 worth $499,000 after buying an additional 6,430 shares during the period. WASHINGTON TRUST Co increased its stake in U.S. Bancorp by 13.9% during the 2nd 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 period. Finally, Tokio Marine Asset Management Co. Ltd. increased its stake in U.S. Bancorp by 13.5% during the 2nd quarter. Tokio Marine Asset Management Co. Ltd. now owns 31,256 shares of the financial services provider’s stock worth $1,033,000 after buying an additional 3,719 shares during the period. 75.40% of the stock is currently owned by institutional investors and hedge funds.
U.S. Bancorp Trading Up 3.3 %
Shares of U.S. Bancorp stock opened at $39.38 on Friday. The company has a fifty day simple moving average of $34.00 and a 200-day simple moving average of $34.60. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 0.92. The stock has a market cap of $61.32 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 1.77 and a beta of 1.07. 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 announced its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.09. The business had revenue of $7.03 billion during the quarter, compared to the consensus estimate of $7.02 billion. U.S. Bancorp had a net margin of 14.39% and a return on equity of 15.80%. The business’s revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.18 EPS. On average, equities analysts forecast that U.S. Bancorp will post 4.32 EPS for the current fiscal year.
U.S. Bancorp Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Friday, September 29th were issued a $0.48 dividend. The ex-dividend date was Thursday, September 28th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.88%. U.S. Bancorp’s dividend payout ratio is presently 57.14%.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on USB. Piper Sandler cut their target price on shares of U.S. Bancorp from $41.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, September 15th. Bank of America cut their target price on shares of U.S. Bancorp from $45.00 to $40.00 in a research note on Tuesday, October 10th. Citigroup cut their target price on shares of U.S. Bancorp from $40.00 to $37.00 and set a “neutral” rating on the stock in a research note on Friday, September 22nd. The Goldman Sachs Group increased their price objective on shares of U.S. Bancorp from $33.00 to $37.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Oppenheimer increased their price objective 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, November 16th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $46.00.
Get Our Latest Analysis on USB
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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