Donaldson Capital Management LLC increased its stake in U.S. Bancorp (NYSE:USB) by 22.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 354,067 shares of the financial services provider’s stock after buying an additional 64,109 shares during the period. U.S. Bancorp accounts for approximately 2.1% of Donaldson Capital Management LLC’s investment portfolio, making the stock its 27th largest position. Donaldson Capital Management LLC’s holdings in U.S. Bancorp were worth $18,234,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in USB. Alecta Pensionsforsakring Omsesidigt raised its stake in shares of 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 valued at $126,690,000 after buying an additional 2,260,000 shares in the last quarter. First Trust Advisors LP raised its stake in shares of 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 valued at $110,089,000 after buying an additional 1,569,154 shares in the last quarter. Karp Capital Management Corp bought a new stake in shares of U.S. Bancorp during the first quarter valued at approximately $60,650,000. Canada Pension Plan Investment Board raised its stake in shares of U.S. Bancorp by 209.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,452,520 shares of the financial services provider’s stock valued at $74,805,000 after buying an additional 983,500 shares in the last quarter. Finally, Quantitative Investment Management LLC bought a new stake in shares of U.S. Bancorp during the first quarter valued at approximately $36,261,000. Hedge funds and other institutional investors own 76.25% of the company’s stock.
Shares of U.S. Bancorp (NYSE:USB) traded down 0.08% during mid-day trading on Friday, hitting $51.68. 5,299,712 shares of the stock traded hands. U.S. Bancorp has a 12-month low of $42.17 and a 12-month high of $56.61. The stock has a market cap of $86.45 billion, a P/E ratio of 15.61 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 $52.54.
U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Wednesday, July 19th. The financial services provider reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.01. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.46 billion. During the same quarter last year, the company earned $0.82 EPS. The company’s revenue for the quarter was up .7% compared to the same quarter last year. Analysts predict that U.S. Bancorp will post $3.44 earnings per share for the current year.
U.S. Bancorp announced that its board has authorized a share buyback program on Wednesday, June 28th that permits the company to repurchase $2.60 billion in outstanding shares. This repurchase authorization permits the financial services provider to buy up to 3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
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Several equities research analysts recently commented on USB shares. Argus upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Thursday, July 20th. Wells Fargo & Company lowered shares of U.S. Bancorp from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $38.48 to $52.31 in a research note on Thursday, May 4th. They noted that the move was a valuation call. BidaskClub upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Jefferies Group LLC reiterated a “buy” rating and set a $59.00 price target on shares of U.S. Bancorp in a research note on Friday, June 9th. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company’s stock. U.S. Bancorp has an average rating of “Hold” and a consensus price target 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.
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