Zacks Investment Management lifted its holdings in U.S. Bancorp (NYSE:USB) by 2.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 742,933 shares of the financial services provider’s stock after purchasing an additional 16,451 shares during the period. Zacks Investment Management’s holdings in U.S. Bancorp were worth $38,573,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Voya Investment Management LLC boosted its holdings in shares of U.S. Bancorp by 3.5% during the 2nd quarter. Voya Investment Management LLC now owns 951,494 shares of the financial services provider’s stock worth $49,402,000 after purchasing an additional 32,493 shares during the last quarter. Bank of Hawaii boosted its holdings in shares of U.S. Bancorp by 1.2% during the 2nd quarter. Bank of Hawaii now owns 39,028 shares of the financial services provider’s stock worth $2,026,000 after purchasing an additional 466 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its holdings in shares of U.S. Bancorp by 7.5% during the 2nd quarter. Ontario Teachers Pension Plan Board now owns 210,974 shares of the financial services provider’s stock worth $10,954,000 after purchasing an additional 14,678 shares during the last quarter. Veritable L.P. boosted its holdings in shares of U.S. Bancorp by 11.1% during the 2nd quarter. Veritable L.P. now owns 139,200 shares of the financial services provider’s stock worth $7,227,000 after purchasing an additional 13,874 shares during the last quarter. Finally, Ally Financial Inc. boosted its holdings in shares of U.S. Bancorp by 66.7% during the 2nd quarter. Ally Financial Inc. now owns 50,000 shares of the financial services provider’s stock worth $2,596,000 after purchasing an additional 20,000 shares during the last quarter. Hedge funds and other institutional investors own 74.40% of the company’s stock.
Several research analysts have recently weighed in on the company. Zacks Investment Research upgraded U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Monday, October 30th. J P Morgan Chase & Co lowered their target price on U.S. Bancorp from $55.50 to $50.00 and set a “neutral” rating on the stock in a report on Wednesday, November 1st. Jefferies Group LLC restated a “buy” rating and set a $62.00 target price on shares of U.S. Bancorp in a report on Thursday, October 12th. Citigroup Inc. restated a “neutral” rating and set a $58.00 target price (up from $53.00) on shares of U.S. Bancorp in a report on Monday, October 9th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $48.00 price objective on shares of U.S. Bancorp in a report on Friday, October 6th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $54.19.
U.S. Bancorp (NYSE USB) traded down $0.08 during trading on Friday, hitting $51.83. The stock had a trading volume of 1,466,876 shares, compared to its average volume of 4,895,938. U.S. Bancorp has a 1-year low of $48.78 and a 1-year high of $56.61. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $86,011.42, a price-to-earnings ratio of 15.38, a P/E/G ratio of 2.02 and a beta of 0.86.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.88 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.88. U.S. Bancorp had a return on equity of 13.91% and a net margin of 25.46%. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.60 billion. During the same quarter in the prior year, the company earned $0.84 earnings per share. The company’s revenue was up 4.1% on a year-over-year basis. equities research analysts expect that U.S. Bancorp will post 3.43 EPS for the current year.
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About U.S. Bancorp
U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.
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