Everence Capital Management Inc. boosted its holdings in shares of U.S. Bancorp (NYSE:USB) by 26.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,372 shares of the financial services provider’s stock after purchasing an additional 11,840 shares during the quarter. U.S. Bancorp comprises 0.7% of Everence Capital Management Inc.’s portfolio, making the stock its 29th biggest holding. Everence Capital Management Inc.’s holdings in U.S. Bancorp were worth $2,927,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of USB. Stelac Advisory Services LLC purchased a new position in shares of U.S. Bancorp in the 2nd quarter worth approximately $103,000. SRS Capital Advisors Inc. lifted its stake in shares of U.S. Bancorp by 17.0% during the 1st quarter. SRS Capital Advisors Inc. now owns 2,547 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 371 shares during the last quarter. Orrstown Financial Services Inc. lifted its stake in shares of U.S. Bancorp by 30.4% during the 2nd quarter. Orrstown Financial Services Inc. now owns 2,921 shares of the financial services provider’s stock worth $152,000 after acquiring an additional 681 shares during the last quarter. Tradewinds Capital Management LLC lifted its stake in shares of U.S. Bancorp by 87.4% during the 1st quarter. Tradewinds Capital Management LLC now owns 3,663 shares of the financial services provider’s stock worth $189,000 after acquiring an additional 1,708 shares during the last quarter. Finally, Opus Capital Group LLC bought a new stake in shares of U.S. Bancorp during the 2nd quarter worth approximately $202,000. 73.95% of the stock is currently owned by institutional investors.
USB has been the subject of a number of research analyst reports. Citigroup Inc. reaffirmed a “neutral” rating and set a $58.00 target price (up from $53.00) on shares of U.S. Bancorp in a research report on Monday, October 9th. BidaskClub lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, August 24th. Jefferies Group LLC reissued a “buy” rating and issued a $62.00 price target on shares of U.S. Bancorp in a research report on Thursday, October 12th. Argus raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Thursday, July 20th. Finally, Nomura lowered U.S. Bancorp from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $57.00 to $55.00 in a research report on Thursday, September 28th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $54.06.
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U.S. Bancorp (NYSE:USB) traded up 0.26% on Friday, hitting $54.44. The stock had a trading volume of 4,862,947 shares. U.S. Bancorp has a one year low of $43.83 and a one year high of $56.61. The firm has a market cap of $91.07 billion, a price-to-earnings ratio of 16.45 and a beta of 0.87. The company’s 50-day moving average price is $53.16 and its 200 day moving average price is $52.19.
U.S. Bancorp (NYSE:USB) last issued its earnings results on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.88. The firm had revenue of $5.61 billion during the quarter, compared to analysts’ expectations of $5.60 billion. U.S. Bancorp had a net margin of 25.46% and a return on equity of 13.91%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period last year, the firm posted $0.84 earnings per share. Analysts expect that U.S. Bancorp will post $3.43 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were given a $0.30 dividend. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.20 dividend on an annualized basis and a yield of 2.20%. U.S. Bancorp’s dividend payout ratio is presently 35.61%.
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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