QS Investors LLC lifted its holdings in U.S. Bancorp (NYSE:USB) by 3.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 70,970 shares of the financial services provider’s stock after buying an additional 2,532 shares during the period. QS Investors LLC’s holdings in U.S. Bancorp were worth $4,044,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of USB. Eagle Bay Advisors LLC acquired a new stake in shares of U.S. Bancorp in the second quarter worth $27,000. Wolverine Asset Management LLC acquired a new stake in shares of U.S. Bancorp in the first quarter worth $34,000. Solstein Capital LLC boosted its position in shares of U.S. Bancorp by 491.6% in the second quarter. Solstein Capital LLC now owns 633 shares of the financial services provider’s stock worth $36,000 after buying an additional 526 shares during the period. Prestige Wealth Management Group LLC boosted its position in shares of U.S. Bancorp by 42.7% in the first quarter. Prestige Wealth Management Group LLC now owns 668 shares of the financial services provider’s stock worth $37,000 after buying an additional 200 shares during the period. Finally, tru Independence LLC purchased a new stake in shares of U.S. Bancorp during the second quarter worth $42,000. 73.80% of the stock is owned by institutional investors and hedge funds.
U.S. Bancorp stock opened at $61.46 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.74 and a current ratio of 0.76. The business’s 50-day simple moving average is $58.03 and its 200-day simple moving average is $57.98. The firm has a market capitalization of $91.12 billion, a PE ratio of 13.16, a PEG ratio of 1.71 and a beta of 1.14. U.S. Bancorp has a 52 week low of $36.57 and a 52 week high of $63.00.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Thursday, September 30th will be paid a $0.46 dividend. The ex-dividend date is Wednesday, September 29th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.42. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.99%. U.S. Bancorp’s payout ratio is presently 60.13%.
Several analysts recently issued reports on the company. Morgan Stanley increased their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Thursday, July 29th. Jefferies Financial Group increased their price objective on U.S. Bancorp from $66.00 to $71.00 and gave the stock a “buy” rating in a report on Monday. Odeon Capital Group lowered U.S. Bancorp from a “buy” rating to a “hold” rating in a report on Monday, July 19th. Oppenheimer increased their price objective on U.S. Bancorp from $70.00 to $73.00 and gave the stock an “outperform” rating in a report on Friday, July 16th. Finally, Barclays increased their price objective on U.S. Bancorp from $65.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, July 16th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $63.10.
U.S. Bancorp Profile
U.S. Bancorp operates as a bank holding company, which offers financial services including lending and depository services, cash management, foreign exchange and trust and investment management. The firm also offers mortgage, refinance, auto, boat and RV loans, credit lines, credit card services, merchant, bank, checking and savings accounts, debit cards, online and mobile banking, ATM processing, mortgage banking, insurance, brokerage and leasing services.
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