Jupiter Asset Management Ltd. trimmed its holdings in shares of U.S. Bancorp (NYSE:USB – Free Report) by 12.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 365,012 shares of the financial services provider’s stock after selling 50,049 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in U.S. Bancorp were worth $12,053,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Nemes Rush Group LLC purchased a new position in U.S. Bancorp during the 2nd quarter valued at about $25,000. Cedar Mountain Advisors LLC boosted its holdings in U.S. Bancorp by 82.0% during the 2nd quarter. Cedar Mountain Advisors LLC now owns 899 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 405 shares during the period. Newbridge Financial Services Group Inc. boosted its holdings in U.S. Bancorp by 73.0% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 962 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 406 shares during the period. Archer Investment Corp boosted its holdings in U.S. Bancorp by 63.2% during the 2nd quarter. Archer Investment Corp now owns 979 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 379 shares during the period. Finally, Arlington Partners LLC boosted its holdings in U.S. Bancorp by 703.9% during the 2nd quarter. Arlington Partners LLC now owns 1,029 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 901 shares during the period. 75.40% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on USB shares. Oppenheimer raised their target price on U.S. Bancorp from $60.00 to $63.00 and gave the company an “outperform” rating in a report on Thursday. Morgan Stanley decreased their price objective on U.S. Bancorp from $45.00 to $44.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 3rd. DA Davidson lifted their price objective on U.S. Bancorp from $39.00 to $41.00 and gave the company a “neutral” rating in a research note on Monday, July 24th. Stephens reiterated an “overweight” rating and issued a $47.00 price objective on shares of U.S. Bancorp in a research note on Monday, July 24th. Finally, Bank of America decreased their price objective on U.S. Bancorp from $45.00 to $40.00 in a research note on Tuesday, October 10th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, U.S. Bancorp currently has an average rating of “Hold” and an average target price of $45.90.
U.S. Bancorp Trading Up 0.9 %
USB opened at $37.64 on Friday. The firm has a market cap of $58.61 billion, a price-to-earnings ratio of 11.20, a price-to-earnings-growth ratio of 1.72 and a beta of 1.02. U.S. Bancorp has a 52 week low of $27.27 and a 52 week high of $49.95. The business’s 50 day moving average is $33.50 and its two-hundred day moving average is $34.06. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.92.
U.S. Bancorp (NYSE:USB – Get Free Report) last released its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $1.05 EPS for the quarter, topping the consensus estimate of $0.96 by $0.09. The company had revenue of $7.03 billion for the quarter, compared to analyst estimates of $7.02 billion. U.S. Bancorp had a return on equity of 15.80% and a net margin of 14.39%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.18 earnings per share. On average, research analysts predict that U.S. Bancorp will post 4.32 EPS for the current year.
U.S. Bancorp Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, October 16th. Shareholders of record on Friday, September 29th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 5.10%. The ex-dividend date was Thursday, September 28th. U.S. Bancorp’s dividend payout ratio (DPR) is 57.14%.
Insiders Place Their Bets
In related news, insider James B. Kelligrew bought 500 shares of the company’s stock in a transaction dated Sunday, August 27th. The shares were acquired at an average price of $54.40 per share, with a total value of $27,200.00. Following the completion of the acquisition, the insider now owns 940 shares in the company, valued at approximately $51,136. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders have bought a total of 654 shares of company stock valued at $30,148 over the last quarter. Company insiders own 0.24% of the company’s stock.
U.S. Bancorp Profile
U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities and other financial institutions 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.
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