Pacer Advisors Inc. lifted its stake in U.S. Bancorp (NYSE:USB) by 8.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,491 shares of the financial services provider’s stock after purchasing an additional 2,893 shares during the quarter. Pacer Advisors Inc.’s holdings in U.S. Bancorp were worth $1,947,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of U.S. Bancorp by 17.3% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 412,170 shares of the financial services provider’s stock valued at $21,400,000 after purchasing an additional 60,719 shares during the last quarter. Airain ltd raised its position in shares of U.S. Bancorp by 237.1% in the 2nd quarter. Airain ltd now owns 71,820 shares of the financial services provider’s stock valued at $3,729,000 after purchasing an additional 50,517 shares during the last quarter. Willingdon Wealth Management raised its position in shares of U.S. Bancorp by 2.4% in the 2nd quarter. Willingdon Wealth Management now owns 37,320 shares of the financial services provider’s stock valued at $1,938,000 after purchasing an additional 871 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of U.S. Bancorp by 16.5% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 368,986 shares of the financial services provider’s stock valued at $19,158,000 after purchasing an additional 52,380 shares during the last quarter. Finally, Canandaigua National Bank & Trust Co. raised its position in shares of U.S. Bancorp by 2.3% in the 2nd quarter. Canandaigua National Bank & Trust Co. now owns 8,727 shares of the financial services provider’s stock valued at $453,000 after purchasing an additional 200 shares during the last quarter. 74.23% of the stock is owned by hedge funds and other institutional investors.
U.S. Bancorp (NYSE:USB) traded down $0.50 during trading on Friday, reaching $51.61. 5,514,800 shares of the company were exchanged, compared to its average volume of 6,125,484. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.79. The firm has a market cap of $86,476.08, a PE ratio of 15.46, a P/E/G ratio of 2.03 and a beta of 0.86. U.S. Bancorp has a 1 year low of $47.43 and a 1 year high of $56.61.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.88. The company had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.60 billion. U.S. Bancorp had a return on equity of 13.91% and a net margin of 25.46%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.84 EPS. sell-side analysts predict that U.S. Bancorp will post 3.43 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were issued a $0.30 dividend. 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 2.33%. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.28. U.S. Bancorp’s dividend payout ratio (DPR) is presently 35.61%.
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Several equities analysts recently weighed in on USB shares. J P Morgan Chase & Co cut their price target on shares of U.S. Bancorp from $55.50 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, November 1st. Jefferies Group LLC reiterated a “buy” rating and issued a $59.00 price target on shares of U.S. Bancorp in a report on Friday, August 11th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a report on Thursday, October 19th. Morgan Stanley increased their price target on shares of U.S. Bancorp from $51.00 to $55.00 and gave the stock an “underweight” rating in a report on Thursday, October 19th. Finally, Nomura downgraded shares of U.S. Bancorp from a “buy” rating to a “neutral” rating and cut their price target for the stock from $57.00 to $55.00 in a report on Thursday, September 28th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $53.82.
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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