Steward Partners Investment Advisory LLC lowered its stake in U.S. Bancorp (NYSE:USB – Free Report) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,180 shares of the financial services provider’s stock after selling 404 shares during the period. Steward Partners Investment Advisory LLC’s holdings in U.S. Bancorp were worth $1,782,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Scotia Capital Inc. increased its holdings in shares of U.S. Bancorp by 2.9% in the third quarter. Scotia Capital Inc. now owns 35,012 shares of the financial services provider’s stock valued at $1,158,000 after purchasing an additional 990 shares in the last quarter. Spinnaker Trust acquired a new stake in U.S. Bancorp during the 4th quarter worth $220,000. Tealwood Asset Management Inc. grew its holdings in U.S. Bancorp by 33.4% during the 4th quarter. Tealwood Asset Management Inc. now owns 62,539 shares of the financial services provider’s stock worth $2,707,000 after acquiring an additional 15,665 shares during the period. Louisiana State Employees Retirement System acquired a new stake in U.S. Bancorp during the 4th quarter worth $4,073,000. Finally, abrdn plc grew its holdings in U.S. Bancorp by 71.9% during the 4th quarter. abrdn plc now owns 652,401 shares of the financial services provider’s stock worth $28,236,000 after acquiring an additional 272,976 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of U.S. Bancorp from $45.00 to $43.50 and set an “overweight” rating for the company in a report on Wednesday, May 1st. DA Davidson lowered their target price on shares of U.S. Bancorp from $45.00 to $44.00 and set a “neutral” rating for the company in a report on Thursday, April 18th. StockNews.com lowered shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Friday, May 24th. Jefferies Financial Group boosted their price target on shares of U.S. Bancorp from $44.00 to $46.00 and gave the company a “hold” rating in a report on Monday, April 8th. Finally, HSBC raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their price target for the company from $47.00 to $53.00 in a report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $46.02.
View Our Latest Report on U.S. Bancorp
U.S. Bancorp Trading Up 3.0 %
Shares of NYSE:USB opened at $40.55 on Friday. The company’s 50-day moving average price is $41.66 and its two-hundred day moving average price is $41.56. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.82 and a quick ratio of 0.81. U.S. Bancorp has a one year low of $29.33 and a one year high of $45.85. The stock has a market capitalization of $63.28 billion, a PE ratio of 13.43, a price-to-earnings-growth ratio of 3.91 and a beta of 1.05.
U.S. Bancorp (NYSE:USB – Get Free Report) last issued its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.89 by $0.01. U.S. Bancorp had a net margin of 12.13% and a return on equity of 13.93%. The firm had revenue of $6.72 billion for the quarter, compared to analysts’ expectations of $6.71 billion. During the same period in the previous year, the firm posted $1.16 EPS. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. On average, equities analysts forecast that U.S. Bancorp will post 3.84 EPS for the current fiscal year.
U.S. Bancorp Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.96 annualized dividend and a yield of 4.83%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 64.90%.
U.S. Bancorp Company 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 through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.
See Also
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Source: defenseworld.net
