Sanders Morris Harris LLC bought a new stake in shares of U.S. Bancorp (NYSE:USB) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 7,560 shares of the financial services provider’s stock, valued at approximately $290,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Westside Investment Management Inc. increased its holdings in U.S. Bancorp by 302.0% in the 3rd quarter. Westside Investment Management Inc. now owns 808 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 607 shares in the last quarter. Old North State Trust LLC acquired a new position in shares of U.S. Bancorp during the 3rd quarter worth $31,000. Costello Asset Management INC acquired a new position in shares of U.S. Bancorp during the 2nd quarter worth $37,000. RMR Wealth Builders acquired a new position in shares of U.S. Bancorp during the 2nd quarter worth $37,000. Finally, Provident Wealth Management LLC acquired a new position in shares of U.S. Bancorp during the 3rd quarter worth $38,000. 73.22% of the stock is owned by institutional investors.
A number of analysts recently commented on the company. Wolfe Research assumed coverage on U.S. Bancorp in a research report on Friday, July 31st. They set an “outperform” rating for the company. Bank of America upgraded U.S. Bancorp from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $39.00 to $41.00 in a research report on Wednesday, October 7th. BofA Securities upgraded U.S. Bancorp from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $39.00 to $41.00 in a research report on Wednesday, October 7th. Deutsche Bank Aktiengesellschaft upgraded U.S. Bancorp from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. lifted their price objective on U.S. Bancorp from $37.50 to $43.50 and gave the stock an “underweight” rating in a research report on Tuesday, October 6th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $44.40.
Shares of USB remained flat at $$39.14 during trading on Friday. The company’s stock had a trading volume of 5,679,047 shares, compared to its average volume of 8,515,956. The business’s fifty day moving average price is $37.19 and its two-hundred day moving average price is $36.30. U.S. Bancorp has a one year low of $28.36 and a one year high of $61.11. The company has a market cap of $58.96 billion, a P/E ratio of 12.31, a price-to-earnings-growth ratio of 2.44 and a beta of 1.10. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.82 and a current ratio of 0.84.
U.S. Bancorp (NYSE:USB) last announced its earnings results on Tuesday, October 20th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.08. U.S. Bancorp had a return on equity of 11.82% and a net margin of 19.70%. The company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same period in the prior year, the company posted $1.15 EPS. U.S. Bancorp’s quarterly revenue was up .7% on a year-over-year basis. On average, analysts anticipate that U.S. Bancorp will post 2.5 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date was Tuesday, September 29th. U.S. Bancorp’s payout ratio is 38.71%.
U.S. Bancorp Profile
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.
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