HighVista Strategies LLC decreased its stake in U.S. Bancorp (NYSE:USB) by 69.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,300 shares of the financial services provider’s stock after selling 14,000 shares during the period. HighVista Strategies LLC’s holdings in U.S. Bancorp were worth $327,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in USB. Shelton Capital Management increased its position in U.S. Bancorp by 51.2% in the 1st quarter. Shelton Capital Management now owns 133,200 shares of the financial services provider’s stock valued at $6,860,000 after acquiring an additional 45,116 shares during the period. Twin Tree Management LP increased its position in shares of U.S. Bancorp by 63.2% during the 2nd quarter. Twin Tree Management LP now owns 34,326 shares of the financial services provider’s stock valued at $1,782,000 after purchasing an additional 13,295 shares during the period. Oarsman Capital Inc. increased its position in shares of U.S. Bancorp by 4.5% during the 2nd quarter. Oarsman Capital Inc. now owns 11,430 shares of the financial services provider’s stock valued at $593,000 after purchasing an additional 488 shares during the period. Robeco Institutional Asset Management B.V. increased its position in shares of U.S. Bancorp by 16.5% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 368,986 shares of the financial services provider’s stock valued at $19,158,000 after purchasing an additional 52,380 shares during the period. Finally, Bank of Montreal Can increased its position in shares of U.S. Bancorp by 2.6% during the 2nd quarter. Bank of Montreal Can now owns 6,171,700 shares of the financial services provider’s stock valued at $320,434,000 after purchasing an additional 159,319 shares during the period. 74.40% of the stock is currently owned by institutional investors and hedge funds.
U.S. Bancorp (NYSE:USB) traded down $0.07 during midday trading on Monday, reaching $51.76. The company’s stock had a trading volume of 1,118,620 shares, compared to its average volume of 6,053,991. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $86,140.00, 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 has a one year low of $48.78 and a one year high of $56.61.
U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.88 EPS for the quarter, hitting analysts’ consensus estimates of $0.88. The business had revenue of $5.61 billion for the quarter, compared to analyst estimates of $5.60 billion. U.S. Bancorp had a return on equity of 13.91% and a net margin of 25.46%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.84 earnings per share. analysts forecast that U.S. Bancorp will post 3.43 earnings per share for the current fiscal year.
Several brokerages have recently issued reports on USB. Wells Fargo & Company initiated coverage on U.S. Bancorp in a research report on Wednesday, August 9th. They set a “market perform” rating and a $56.00 price target on the stock. BidaskClub lowered U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Bank of America Corporation lowered U.S. Bancorp from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $56.00 to $54.00 in a research note on Monday, October 2nd. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of U.S. Bancorp in a research note on Thursday, October 19th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $59.00 price objective on shares of U.S. Bancorp in a research note on Friday, August 11th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $54.19.
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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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