Man Group plc lowered its holdings in U.S. Bancorp (NYSE:USB) by 7.8% during the fourth quarter, Holdings Channel reports. The fund owned 589,873 shares of the financial services provider’s stock after selling 49,614 shares during the quarter. Man Group plc’s holdings in U.S. Bancorp were worth $34,973,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also added to or reduced their stakes in USB. Simon Quick Advisors LLC grew its position in U.S. Bancorp by 1,060.0% during the fourth quarter. Simon Quick Advisors LLC now owns 464 shares of the financial services provider’s stock valued at $28,000 after buying an additional 424 shares during the period. Solstein Capital LLC acquired a new stake in U.S. Bancorp during the fourth quarter valued at $30,000. Raab & Moskowitz Asset Management LLC acquired a new stake in U.S. Bancorp during the fourth quarter valued at $31,000. Howard Wealth Management LLC acquired a new stake in U.S. Bancorp during the fourth quarter valued at $32,000. Finally, PSI Advisors LLC acquired a new stake in U.S. Bancorp during the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 76.41% of the company’s stock.
USB has been the topic of several analyst reports. Barclays restated a “buy” rating and set a $71.00 price target on shares of U.S. Bancorp in a research report on Tuesday, January 7th. Citigroup upgraded shares of U.S. Bancorp from a “sell” rating to a “neutral” rating and raised their price target for the company from $49.00 to $62.00 in a research report on Monday, December 16th. Robert W. Baird upgraded shares of U.S. Bancorp from a “neutral” rating to an “outperform” rating and set a $56.00 price target on the stock in a research report on Tuesday, March 17th. Morgan Stanley dropped their price target on shares of U.S. Bancorp from $60.00 to $51.00 and set an “underweight” rating on the stock in a research report on Monday, March 9th. Finally, Wells Fargo & Co upgraded shares of U.S. Bancorp from an “underweight” rating to an “overweight” rating and set a $44.00 price target on the stock in a research report on Monday, March 16th. They noted that the move was a valuation call. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. U.S. Bancorp has an average rating of “Hold” and an average price target of $57.09.
Shares of NYSE USB opened at $32.03 on Thursday. The company’s 50-day simple moving average is $45.85 and its 200-day simple moving average is $54.20. U.S. Bancorp has a 52-week low of $28.59 and a 52-week high of $61.11. The firm has a market cap of $47.46 billion, a price-to-earnings ratio of 7.74, a price-to-earnings-growth ratio of 1.23 and a beta of 1.14. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.86.
U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, January 15th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.08. U.S. Bancorp had a net margin of 25.30% and a return on equity of 15.23%. The business had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.78 billion. During the same quarter last year, the business earned $1.07 earnings per share. The company’s revenue for the quarter was up 3.9% compared to the same quarter last year. Equities research analysts anticipate that U.S. Bancorp will post 4.23 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be given a $0.42 dividend. The ex-dividend date is Monday, March 30th. This represents a $1.68 annualized dividend and a dividend yield of 5.25%. U.S. Bancorp’s dividend payout ratio (DPR) is 38.71%.
About U.S. Bancorp
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.
Further Reading: Current Ratio
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