Everence Capital Management Inc. bought a new position in U.S. Bancorp (NYSE:USB) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 44,707 shares of the financial services provider’s stock, valued at approximately $2,473,000.
A number of other large investors have also recently added to or reduced their stakes in USB. Vision Capital Management Inc. lifted its stake in shares of U.S. Bancorp by 1.7% during the 4th quarter. Vision Capital Management Inc. now owns 13,193 shares of the financial services provider’s stock worth $615,000 after acquiring an additional 224 shares during the last quarter. Buffington Mohr McNeal lifted its stake in shares of U.S. Bancorp by 0.6% during the 4th quarter. Buffington Mohr McNeal now owns 40,002 shares of the financial services provider’s stock worth $1,864,000 after acquiring an additional 235 shares during the last quarter. Robertson Stephens Wealth Management LLC lifted its stake in shares of U.S. Bancorp by 0.8% during the 4th quarter. Robertson Stephens Wealth Management LLC now owns 29,904 shares of the financial services provider’s stock worth $1,405,000 after acquiring an additional 238 shares during the last quarter. Pflug Koory LLC lifted its stake in shares of U.S. Bancorp by 1.0% during the 4th quarter. Pflug Koory LLC now owns 24,109 shares of the financial services provider’s stock worth $1,123,000 after acquiring an additional 240 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in U.S. Bancorp by 2.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 8,713 shares of the financial services provider’s stock valued at $406,000 after purchasing an additional 246 shares in the last quarter. Institutional investors own 71.73% of the company’s stock.
A number of equities research analysts have weighed in on USB shares. Deutsche Bank Aktiengesellschaft lifted their target price on U.S. Bancorp from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, April 1st. Bank of America lowered U.S. Bancorp from a “neutral” rating to an “underperform” rating and lifted their target price for the company from $44.00 to $52.00 in a research report on Thursday, January 7th. Stephens lifted their target price on U.S. Bancorp from $52.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, March 30th. Barclays lifted their target price on U.S. Bancorp from $61.00 to $65.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Jefferies Financial Group upgraded U.S. Bancorp from a “hold” rating to a “buy” rating in a report on Wednesday, January 13th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $53.28.
NYSE:USB traded down $0.15 during trading hours on Thursday, hitting $56.66. 194,602 shares of the stock were exchanged, compared to its average volume of 7,974,351. U.S. Bancorp has a 52-week low of $28.36 and a 52-week high of $57.02. The firm’s fifty day moving average price is $53.30 and its 200 day moving average price is $45.75. The company has a current ratio of 0.82, a quick ratio of 0.80 and a debt-to-equity ratio of 0.90. The company has a market cap of $85.14 billion, a P/E ratio of 18.81, a P/E/G ratio of 2.26 and a beta of 1.09.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Tuesday, January 19th. The financial services provider reported $0.95 EPS for the quarter, hitting analysts’ consensus estimates of $0.95. U.S. Bancorp had a return on equity of 10.99% and a net margin of 18.68%. The company had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.80 billion. During the same period in the prior year, the firm earned $0.90 earnings per share. The firm’s revenue was up 1.5% compared to the same quarter last year. Equities analysts expect that U.S. Bancorp will post 3.06 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.97%. The ex-dividend date is Tuesday, March 30th. U.S. Bancorp’s payout ratio is currently 38.71%.
U.S. Bancorp announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 22nd that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to repurchase up to 4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
U.S. Bancorp Company Profile
U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support segments. The company offers depository services, including checking accounts, savings accounts, and time certificate contracts; lending services, such as traditional credit products; and credit card services, lease financing and import/export trade, asset-backed lending, agricultural finance, and other products.
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