Sumitomo Mitsui Asset Management Company LTD cut its position in shares of U.S. Bancorp (NYSE:USB) by 3.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 162,951 shares of the financial services provider’s stock after selling 6,194 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in U.S. Bancorp were worth $8,732,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Janus Henderson Group PLC raised its position in U.S. Bancorp by 5,598.0% during the second quarter. Janus Henderson Group PLC now owns 12,653,535 shares of the financial services provider’s stock valued at $656,975,000 after acquiring an additional 12,431,466 shares in the last quarter. New England Asset Management Inc. grew its holdings in U.S. Bancorp by 52.5% during the first quarter. New England Asset Management Inc. now owns 26,571,846 shares of the financial services provider’s stock valued at $1,368,451,000 after purchasing an additional 9,150,126 shares during the last quarter. Principal Financial Group Inc. grew its holdings in U.S. Bancorp by 154.2% during the second quarter. Principal Financial Group Inc. now owns 5,836,557 shares of the financial services provider’s stock valued at $303,034,000 after purchasing an additional 3,540,530 shares during the last quarter. Vanguard Group Inc. grew its holdings in U.S. Bancorp by 1.7% during the second quarter. Vanguard Group Inc. now owns 105,568,014 shares of the financial services provider’s stock valued at $5,481,092,000 after purchasing an additional 1,727,498 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in U.S. Bancorp by 54.2% during the first quarter. AQR Capital Management LLC now owns 4,698,271 shares of the financial services provider’s stock valued at $241,961,000 after purchasing an additional 1,652,219 shares during the last quarter. 73.96% of the stock is owned by institutional investors.
Shares of U.S. Bancorp (NYSE USB) traded up $0.51 during mid-day trading on Thursday, reaching $56.68. The company had a trading volume of 6,150,000 shares, compared to its average volume of 5,790,000. The firm has a market capitalization of $94,060.00, a price-to-earnings ratio of 16.87, a price-to-earnings-growth ratio of 1.93 and a beta of 0.85. U.S. Bancorp has a 1 year low of $49.53 and a 1 year high of $56.74. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.82 and a current ratio of 0.83.
U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.88. The company had revenue of $5.61 billion during 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 company’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.84 EPS. analysts expect that U.S. Bancorp will post 3.42 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.20 annualized dividend and a dividend yield of 2.12%. U.S. Bancorp’s payout ratio is currently 35.71%.
Several equities research analysts have recently issued reports on the stock. Vining Sparks restated a “buy” rating and issued a $64.00 price objective on shares of U.S. Bancorp in a research note on Monday. Morgan Stanley raised their target price on U.S. Bancorp from $51.00 to $55.00 and gave the stock an “underweight” rating in a research report on Thursday, October 19th. Oppenheimer reaffirmed a “hold” rating on shares of U.S. Bancorp in a research report on Thursday, October 19th. Barclays raised their target price on U.S. Bancorp from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 2nd. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $63.00 target price on shares of U.S. Bancorp in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $56.22.
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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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