Utah Retirement Systems grew its stake in shares of U.S. Bancorp (NYSE:USB) by 0.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 297,588 shares of the financial services provider’s stock after acquiring an additional 200 shares during the period. Utah Retirement Systems’ holdings in U.S. Bancorp were worth $15,326,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Investment Partners Ltd. OH ADV lifted its position in shares of U.S. Bancorp by 33.6% in the 1st quarter. Investment Partners Ltd. OH ADV now owns 8,054 shares of the financial services provider’s stock worth $415,000 after buying an additional 2,024 shares during the last quarter. Stratos Wealth Partners LTD. lifted its position in U.S. Bancorp by 13.1% in the 1st quarter. Stratos Wealth Partners LTD. now owns 40,541 shares of the financial services provider’s stock valued at $2,088,000 after purchasing an additional 4,683 shares during the last quarter. TIAA CREF Investment Management LLC lifted its position in U.S. Bancorp by 1.1% in the 1st quarter. TIAA CREF Investment Management LLC now owns 6,968,670 shares of the financial services provider’s stock valued at $358,887,000 after purchasing an additional 73,504 shares during the last quarter. Knights of Columbus Asset Advisors LLC bought a new stake in U.S. Bancorp in the 1st quarter valued at about $1,661,000. Finally, Nelson Roberts Investment Advisors LLC lifted its position in U.S. Bancorp by 0.3% in the 1st quarter. Nelson Roberts Investment Advisors LLC now owns 120,356 shares of the financial services provider’s stock valued at $6,198,000 after purchasing an additional 320 shares during the last quarter. 73.97% of the stock is owned by institutional investors.
Several brokerages recently weighed in on USB. Wells Fargo & Company began coverage on shares of U.S. Bancorp in a research report on Wednesday, August 9th. They issued a “market perform” rating and a $56.00 price objective on the stock. Jefferies Group LLC reiterated a “buy” rating and issued a $59.00 price objective on shares of U.S. Bancorp in a research report on Friday, June 9th. BidaskClub downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Argus upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Thursday, July 20th. Finally, Oppenheimer Holdings, Inc. restated a “hold” rating on shares of U.S. Bancorp in a research report on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $52.50.
Shares of U.S. Bancorp (NYSE USB) opened at 53.67 on Friday. U.S. Bancorp has a 12-month low of $42.17 and a 12-month high of $56.61. The company’s 50 day moving average is $52.00 and its 200 day moving average is $52.08. The firm has a market capitalization of $89.78 billion, a PE ratio of 16.21 and a beta of 0.87.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.01. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.46 billion. During the same quarter in the prior year, the company earned $0.82 EPS. The business’s revenue for the quarter was up .7% on a year-over-year basis. On average, analysts forecast that U.S. Bancorp will post $3.43 earnings per share for the current year.
U.S. Bancorp declared that its Board of Directors has approved a share repurchase plan on Wednesday, June 28th that permits the company to buyback $2.60 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 29th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Thursday, September 28th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.28. U.S. Bancorp’s dividend payout ratio is currently 33.63%.
U.S. Bancorp Company Profile
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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