Polaris Greystone Financial Group LLC bought a new stake in U.S. Bancorp (NYSE:USB) during the third quarter, HoldingsChannel.com reports. The firm bought 3,500 shares of the financial services provider’s stock, valued at approximately $185,000.
Other hedge funds have also modified their holdings of the company. Bank of Montreal Can acquired a new stake in shares of U.S. Bancorp during the 2nd quarter valued at $131,487,000. Bank of New York Mellon Corp boosted its holdings in shares of U.S. Bancorp by 15.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 15,867,860 shares of the financial services provider’s stock valued at $793,710,000 after acquiring an additional 2,071,326 shares in the last quarter. BTIM Corp. acquired a new stake in shares of U.S. Bancorp during the 2nd quarter valued at $78,408,000. Chevy Chase Trust Holdings Inc. acquired a new stake in shares of U.S. Bancorp during the 2nd quarter valued at $72,386,000. Finally, Cornerstone Wealth Management LLC boosted its holdings in shares of U.S. Bancorp by 5,122.1% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,133,620 shares of the financial services provider’s stock valued at $22,487,000 after acquiring an additional 1,111,912 shares in the last quarter. 74.41% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently weighed in on USB. ValuEngine downgraded U.S. Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Wedbush set a $58.00 price objective on U.S. Bancorp and gave the company a “hold” rating in a report on Thursday. Zacks Investment Research raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Friday, October 12th. Oppenheimer raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $62.00 price objective on the stock in a report on Thursday. Finally, Nomura cut their price objective on U.S. Bancorp from $60.00 to $54.00 and set a “neutral” rating on the stock in a report on Thursday. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. U.S. Bancorp presently has a consensus rating of “Hold” and a consensus target price of $59.58.
In other U.S. Bancorp news, Vice Chairman John R. Elmore sold 58,924 shares of U.S. Bancorp stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $51.71, for a total transaction of $3,046,960.04. Following the transaction, the insider now directly owns 98,371 shares of the company’s stock, valued at approximately $5,086,764.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.43% of the stock is currently owned by insiders.
Shares of USB opened at $52.50 on Friday. The stock has a market cap of $84.92 billion, a price-to-earnings ratio of 15.35, a P/E/G ratio of 1.70 and a beta of 0.98. U.S. Bancorp has a 12 month low of $48.49 and a 12 month high of $58.50. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.82 and a current ratio of 0.85.
U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, October 17th. The financial services provider reported $1.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.02. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.68 billion. U.S. Bancorp had a return on equity of 15.14% and a net margin of 27.53%. The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 EPS. On average, equities research analysts forecast that U.S. Bancorp will post 4.09 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 15th. Shareholders of record on Friday, September 28th were issued a dividend of $0.37 per share. The ex-dividend date was Thursday, September 27th. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.30. This represents a $1.48 annualized dividend and a yield of 2.82%. U.S. Bancorp’s payout ratio is presently 43.27%.
U.S. Bancorp Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
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