Buckingham Asset Management LLC boosted its position in U.S. Bancorp (NYSE:USB) by 8.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 71,866 shares of the financial services provider’s stock after purchasing an additional 5,621 shares during the period. Buckingham Asset Management LLC’s holdings in U.S. Bancorp were worth $3,795,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of USB. IFM Investors Pty Ltd lifted its position in shares of U.S. Bancorp by 36.5% during the second quarter. IFM Investors Pty Ltd now owns 70,946 shares of the financial services provider’s stock worth $3,549,000 after acquiring an additional 18,975 shares in the last quarter. YHB Investment Advisors Inc. lifted its position in shares of U.S. Bancorp by 2.2% during the second quarter. YHB Investment Advisors Inc. now owns 108,414 shares of the financial services provider’s stock worth $5,423,000 after acquiring an additional 2,367 shares in the last quarter. Marshwinds Advisory Co. purchased a new stake in shares of U.S. Bancorp during the second quarter worth $310,000. Farmers Trust Co. purchased a new stake in shares of U.S. Bancorp during the second quarter worth $3,555,000. Finally, Fulton Bank N.A. lifted its position in shares of U.S. Bancorp by 18.2% during the second quarter. Fulton Bank N.A. now owns 15,603 shares of the financial services provider’s stock worth $780,000 after acquiring an additional 2,401 shares in the last quarter. Institutional investors and hedge funds own 74.42% of the company’s stock.
Several research analysts have recently weighed in on the stock. ValuEngine raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, August 22nd. Citigroup cut shares of U.S. Bancorp from a “buy” rating to a “neutral” rating in a report on Friday. Zacks Investment Research raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a report on Friday, October 12th. Wedbush reaffirmed a “neutral” rating on shares of U.S. Bancorp in a report on Monday, July 23rd. Finally, Oppenheimer raised shares of U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $62.00 price target on the stock in a report on Thursday, October 18th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. U.S. Bancorp currently has an average rating of “Hold” and a consensus target price of $59.36.
U.S. Bancorp stock opened at $52.34 on Tuesday. The firm has a market capitalization of $84.82 billion, a PE ratio of 15.30, a PEG ratio of 1.70 and a beta of 0.91. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.91. U.S. Bancorp has a fifty-two week low of $48.49 and a fifty-two week high of $58.50.
U.S. Bancorp (NYSE:USB) last released its earnings results on Wednesday, October 17th. The financial services provider reported $1.06 EPS for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.02. The business had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.68 billion. U.S. Bancorp had a return on equity of 15.14% and a net margin of 27.53%. The firm’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 earnings per share. As a group, sell-side analysts anticipate that U.S. Bancorp will post 4.1 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date was Thursday, September 27th. This is a boost from U.S. Bancorp’s previous quarterly dividend of $0.30. U.S. Bancorp’s dividend payout ratio is currently 43.27%.
In related news, Vice Chairman Terrance R. Dolan sold 15,524 shares of the stock in a transaction on Thursday, October 18th. The stock was sold at an average price of $52.91, for a total value of $821,374.84. Following the transaction, the insider now owns 124,086 shares of the company’s stock, valued at $6,565,390.26. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Vice Chairman Gillern Jeffry H. Von sold 17,508 shares of the stock in a transaction on Wednesday, October 24th. The shares were sold at an average price of $50.81, for a total value of $889,581.48. Following the completion of the transaction, the insider now directly owns 121,137 shares in the company, valued at approximately $6,154,970.97. The disclosure for this sale can be found here. 0.43% of the stock is owned by corporate insiders.
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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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