Lido Advisors LLC grew its position in shares of U.S. Bancorp (NYSE:USB) by 12.5% in the 3rd quarter, Holdings Channel reports. The firm owned 10,983 shares of the financial services provider’s stock after acquiring an additional 1,220 shares during the quarter. Lido Advisors LLC’s holdings in U.S. Bancorp were worth $584,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of USB. Acadian Asset Management LLC bought a new stake in U.S. Bancorp during the second quarter worth about $197,000. Smith Asset Management Group LP lifted its stake in U.S. Bancorp by 6.8% during the second quarter. Smith Asset Management Group LP now owns 449,067 shares of the financial services provider’s stock worth $22,496,000 after purchasing an additional 28,771 shares during the last quarter. Victory Capital Management Inc. lifted its stake in U.S. Bancorp by 0.8% during the second quarter. Victory Capital Management Inc. now owns 644,799 shares of the financial services provider’s stock worth $32,253,000 after purchasing an additional 4,951 shares during the last quarter. Spinnaker Trust lifted its stake in U.S. Bancorp by 632.6% during the second quarter. Spinnaker Trust now owns 38,344 shares of the financial services provider’s stock worth $1,917,000 after purchasing an additional 33,110 shares during the last quarter. Finally, Advanced Asset Management Advisors Inc lifted its stake in U.S. Bancorp by 32.2% during the second quarter. Advanced Asset Management Advisors Inc now owns 48,029 shares of the financial services provider’s stock worth $2,402,000 after purchasing an additional 11,701 shares during the last quarter. 75.24% of the stock is owned by hedge funds and other institutional investors.
In related news, Vice Chairman Terrance R. Dolan sold 15,524 shares of the business’s stock in a transaction dated Thursday, October 18th. The stock was sold at an average price of $52.91, for a total transaction of $821,374.84. Following the transaction, the insider now owns 124,086 shares in the company, valued at approximately $6,565,390.26. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Gillern Jeffry H. Von sold 17,508 shares of the business’s stock in a transaction dated Wednesday, October 24th. The shares were sold at an average price of $50.81, for a total value of $889,581.48. Following the transaction, the insider now owns 121,137 shares in the company, valued at approximately $6,154,970.97. The disclosure for this sale can be found here. In the last quarter, insiders sold 253,073 shares of company stock worth $13,383,882. Company insiders own 0.43% of the company’s stock.
Several equities research analysts have issued reports on the company. ValuEngine raised U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, August 22nd. Zacks Investment Research lowered U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, November 26th. Deutsche Bank lowered U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, November 26th. Citigroup downgraded U.S. Bancorp from a “buy” rating to a “neutral” rating in a report on Friday, November 2nd. Finally, Standpoint Research downgraded U.S. Bancorp from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $54.16 to $63.00 in a report on Monday, November 26th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $59.61.
USB opened at $51.76 on Friday. The stock has a market capitalization of $84.59 billion, a PE ratio of 15.13, a P/E/G ratio of 1.70 and a beta of 0.90. 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 12 month low of $48.49 and a 12 month high of $58.50.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings data 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 company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 earnings per share. On average, analysts predict that U.S. Bancorp will post 4.1 earnings per share for the current year.
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About U.S. Bancorp
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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