Great West Life Assurance Co. Can increased its position in shares of U.S. Bancorp (NYSE:USB) by 2.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,737,322 shares of the financial services provider’s stock after buying an additional 34,515 shares during the period. Great West Life Assurance Co. Can owned 0.10% of U.S. Bancorp worth $92,808,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Hudock Capital Group LLC increased its position in U.S. Bancorp by 0.4% in the 2nd quarter. Hudock Capital Group LLC now owns 3,804 shares of the financial services provider’s stock valued at $197,000 after acquiring an additional 17 shares in the last quarter. BSW Wealth Partners increased its position in U.S. Bancorp by 0.6% in the 2nd quarter. BSW Wealth Partners now owns 3,995 shares of the financial services provider’s stock valued at $207,000 after acquiring an additional 22 shares in the last quarter. D. Scott Neal Inc. boosted its stake in shares of U.S. Bancorp by 0.5% in the 2nd quarter. D. Scott Neal Inc. now owns 7,524 shares of the financial services provider’s stock valued at $391,000 after purchasing an additional 36 shares during the last quarter. Budros Ruhlin & Roe Inc. boosted its stake in shares of U.S. Bancorp by 0.5% in the 2nd quarter. Budros Ruhlin & Roe Inc. now owns 7,492 shares of the financial services provider’s stock valued at $389,000 after purchasing an additional 39 shares during the last quarter. Finally, Green Square Capital LLC boosted its stake in shares of U.S. Bancorp by 0.4% in the 1st quarter. Green Square Capital LLC now owns 11,322 shares of the financial services provider’s stock valued at $586,000 after purchasing an additional 41 shares during the last quarter. 73.98% of the stock is owned by hedge funds and other institutional investors.
USB has been the topic of several recent analyst reports. Zacks Investment Research raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Monday, October 9th. Instinet downgraded shares of U.S. Bancorp from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $57.00 to $55.00 in a report on Thursday, September 28th. Vining Sparks reiterated a “buy” rating and issued a $64.00 price objective on shares of U.S. Bancorp in a report on Monday, January 8th. Robert W. Baird restated a “hold” rating and set a $48.00 target price on shares of U.S. Bancorp in a report on Friday, October 6th. Finally, UBS Group cut shares of U.S. Bancorp from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $58.00 to $60.00 in a research report on Tuesday, December 12th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $56.22.
U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.88. The company had revenue of $5.61 billion for the quarter, compared to analysts’ expectations of $5.60 billion. U.S. Bancorp had a return on equity of 13.91% and a net margin of 25.46%. U.S. Bancorp’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the business earned $0.84 EPS. sell-side analysts expect that U.S. Bancorp will post 3.42 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Thursday, December 28th. U.S. Bancorp’s payout ratio is currently 35.71%.
About U.S. Bancorp
U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.
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