Laurel Wealth Advisors Inc. cut its position in shares of U.S. Bancorp (NYSE:USB) by 0.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,935 shares of the financial services provider’s stock after selling 20 shares during the period. Laurel Wealth Advisors Inc.’s holdings in U.S. Bancorp were worth $511,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in USB. New England Asset Management Inc. boosted its stake in U.S. Bancorp by 52.5% in the first quarter. New England Asset Management Inc. now owns 26,571,846 shares of the financial services provider’s stock worth $1,368,451,000 after buying an additional 9,150,126 shares during the period. Alecta Pensionsforsakring Omsesidigt boosted its stake in U.S. Bancorp by 1,130.0% in the first quarter. Alecta Pensionsforsakring Omsesidigt now owns 2,460,000 shares of the financial services provider’s stock worth $126,690,000 after buying an additional 2,260,000 shares during the period. AQR Capital Management LLC boosted its stake in U.S. Bancorp by 54.2% in the first quarter. AQR Capital Management LLC now owns 4,698,271 shares of the financial services provider’s stock worth $241,961,000 after buying an additional 1,652,219 shares during the period. First Trust Advisors LP boosted its stake in U.S. Bancorp by 276.0% in the first quarter. First Trust Advisors LP now owns 2,137,659 shares of the financial services provider’s stock worth $110,089,000 after buying an additional 1,569,154 shares during the period. Finally, Karp Capital Management Corp acquired a new stake in U.S. Bancorp during the first quarter worth approximately $60,650,000. Institutional investors own 76.25% of the company’s stock.
U.S. Bancorp (NYSE USB) traded up 0.14% during mid-day trading on Friday, reaching $51.79. The company had a trading volume of 2,132,209 shares. The company has a market capitalization of $86.63 billion, a price-to-earnings ratio of 15.65 and a beta of 0.86. The firm’s 50 day moving average price is $52.47 and its 200-day moving average price is $52.55. U.S. Bancorp has a 12 month low of $42.17 and a 12 month high of $56.61.
U.S. Bancorp (NYSE:USB) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.01. The firm had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.46 billion. U.S. Bancorp had a return on equity of 13.85% and a net margin of 25.60%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.82 EPS. Equities research analysts anticipate that U.S. Bancorp will post $3.44 earnings per share for the current year.
U.S. Bancorp declared that its Board of Directors has initiated a stock buyback plan on Wednesday, June 28th that authorizes the company to repurchase $2.60 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
A number of research analysts have recently weighed in on USB shares. Argus raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Thursday, July 20th. Wells Fargo & Company lowered U.S. Bancorp from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $38.48 to $52.31 in a report on Thursday, May 4th. They noted that the move was a valuation call. BidaskClub raised U.S. Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Rafferty Capital Markets lowered U.S. Bancorp from a “buy” rating to a “hold” rating and set a $53.00 price objective on the stock. in a report on Thursday, April 20th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $59.00 price objective on shares of U.S. Bancorp in a report on Friday, June 9th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $52.85.
U.S. Bancorp Company Profile
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.
Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB).
Receive News & Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.
