ACG Wealth decreased its position in U.S. Bancorp (NYSE:USB) by 36.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,361 shares of the financial services provider’s stock after selling 3,705 shares during the quarter. ACG Wealth’s holdings in U.S. Bancorp were worth $341,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in the stock. Stelac Advisory Services LLC purchased a new position in U.S. Bancorp in the 2nd quarter worth approximately $103,000. Phocas Financial Corp. purchased a new position in U.S. Bancorp in the 2nd quarter worth approximately $109,000. Pathstone Family Office LLC boosted its holdings in U.S. Bancorp by 13.2% in the 2nd quarter. Pathstone Family Office LLC now owns 3,317 shares of the financial services provider’s stock worth $172,000 after acquiring an additional 386 shares during the period. Hudock Capital Group LLC boosted its holdings 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 worth $197,000 after acquiring an additional 17 shares during the period. Finally, Cadence Bank NA purchased a new position in shares of U.S. Bancorp during the 3rd quarter valued at approximately $201,000. 73.96% of the stock is owned by hedge funds and other institutional investors.
U.S. Bancorp (NYSE USB) opened at $56.20 on Thursday. The firm has a market capitalization of $93,260.00, a price-to-earnings ratio of 16.73, a P/E/G ratio of 1.93 and a beta of 0.85. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.83 and a quick ratio of 0.82. U.S. Bancorp has a 1 year low of $49.53 and a 1 year high of $56.70.
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 (EPS) for the quarter, hitting the consensus estimate of $0.88. U.S. Bancorp had a return on equity of 13.91% and a net margin of 25.46%. The firm had revenue of $5.61 billion during the quarter, compared to the consensus estimate of $5.60 billion. During the same period in the prior year, the business earned $0.84 EPS. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. research analysts expect that U.S. Bancorp will post 3.42 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Thursday, December 28th. U.S. Bancorp’s payout ratio is 35.71%.
Several equities analysts have recently commented on the company. Bank of America cut U.S. Bancorp from a “neutral” rating to an “underperform” rating and reduced their target price for the company from $56.00 to $54.00 in a research note on Monday, October 2nd. Oppenheimer reissued a “hold” rating on shares of U.S. Bancorp in a research report on Thursday, October 19th. Barclays upped their price target on U.S. Bancorp from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Morgan Stanley upped their price target on U.S. Bancorp from $51.00 to $55.00 and gave the company an “underweight” rating in a research report on Thursday, October 19th. Finally, Zacks Investment Research lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company’s stock. U.S. Bancorp currently has an average rating of “Hold” and an average price target of $56.22.
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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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