Commonwealth Equity Services LLC raised its stake in shares of U.S. Bancorp (NYSE:USB – Free Report) by 17.0% during the second quarter, HoldingsChannel reports. The firm owned 709,581 shares of the financial services provider’s stock after buying an additional 103,025 shares during the quarter. Commonwealth Equity Services LLC’s holdings in U.S. Bancorp were worth $23,445,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nemes Rush Group LLC purchased a new stake in shares of U.S. Bancorp in the second quarter worth approximately $25,000. Cedar Mountain Advisors LLC raised its holdings in shares of U.S. Bancorp by 82.0% in the second quarter. Cedar Mountain Advisors LLC now owns 899 shares of the financial services provider’s stock worth $30,000 after buying an additional 405 shares during the period. Newbridge Financial Services Group Inc. raised its holdings in shares of U.S. Bancorp by 73.0% in the second quarter. Newbridge Financial Services Group Inc. now owns 962 shares of the financial services provider’s stock worth $32,000 after buying an additional 406 shares during the period. Archer Investment Corp raised its holdings in shares of U.S. Bancorp by 63.2% in the second quarter. Archer Investment Corp now owns 979 shares of the financial services provider’s stock worth $32,000 after buying an additional 379 shares during the period. Finally, Arlington Partners LLC raised its holdings in shares of U.S. Bancorp by 703.9% in the second quarter. Arlington Partners LLC now owns 1,029 shares of the financial services provider’s stock worth $34,000 after buying an additional 901 shares during the period. 75.40% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts have recently weighed in on the company. Morgan Stanley reduced their price target on U.S. Bancorp from $45.00 to $44.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 3rd. Jefferies Financial Group dropped their price objective on U.S. Bancorp from $36.00 to $31.00 in a research note on Tuesday, October 10th. Bank of America dropped their price objective on U.S. Bancorp from $45.00 to $40.00 in a research note on Tuesday, October 10th. Piper Sandler dropped their price objective on U.S. Bancorp from $41.00 to $40.00 and set a “neutral” rating on the stock in a research note on Friday, September 15th. Finally, DA Davidson increased their price objective on U.S. Bancorp from $39.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, July 24th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $45.90.
Insider Buying and Selling
In other U.S. Bancorp news, insider James B. Kelligrew purchased 500 shares of U.S. Bancorp stock in a transaction that occurred on Sunday, August 27th. The stock was bought at an average price of $54.40 per share, with a total value of $27,200.00. Following the acquisition, the insider now owns 940 shares of the company’s stock, valued at approximately $51,136. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders acquired 654 shares of company stock valued at $30,148. 0.24% of the stock is owned by company insiders.
U.S. Bancorp Stock Performance
Shares of USB stock opened at $37.64 on Tuesday. The business has a fifty day moving average of $33.53 and a 200 day moving average of $34.18. The firm has a market capitalization 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 1 year low of $27.27 and a 1 year high of $49.95. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.80 and a quick ratio of 0.80.
U.S. Bancorp (NYSE:USB – Get Free Report) last released its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.09. The business had revenue of $7.03 billion during 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 company’s revenue was up 11.2% on a year-over-year basis. During the same quarter last year, the business posted $1.18 EPS. As a group, research analysts expect that U.S. Bancorp will post 4.32 earnings per share for the current year.
U.S. Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Friday, September 29th were issued a $0.48 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.92 dividend on an annualized basis and a yield of 5.10%. U.S. Bancorp’s payout ratio is 57.14%.
About U.S. Bancorp
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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