Cypress Wealth Advisors LLC raised its position in U.S. Bancorp (NYSE:USB) by 3.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,638 shares of the financial services provider’s stock after buying an additional 157 shares during the period. Cypress Wealth Advisors LLC’s holdings in U.S. Bancorp were worth $239,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in U.S. Bancorp by 13.9% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 61,748 shares of the financial services provider’s stock valued at $3,180,000 after buying an additional 7,548 shares in the last quarter. Security National Bank of Sioux City Iowa IA acquired a new position in U.S. Bancorp in the first quarter valued at about $1,082,000. Cambria Investment Management L.P. boosted its position in U.S. Bancorp by 2.4% in the first quarter. Cambria Investment Management L.P. now owns 20,069 shares of the financial services provider’s stock valued at $1,034,000 after buying an additional 478 shares in the last quarter. Jane Street Group LLC boosted its position in U.S. Bancorp by 126.9% in the first quarter. Jane Street Group LLC now owns 78,547 shares of the financial services provider’s stock valued at $4,046,000 after buying an additional 43,935 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new position in U.S. Bancorp in the first quarter valued at about $641,000. Hedge funds and other institutional investors own 74.21% of the company’s stock.
Shares of U.S. Bancorp (NYSE:USB) traded up 2.00% on Tuesday, reaching $51.90. 1,972,842 shares of the company were exchanged. U.S. Bancorp has a 12 month low of $42.17 and a 12 month high of $56.61. The company has a market cap of $86.82 billion, a price-to-earnings ratio of 15.68 and a beta of 0.87. The company’s 50-day moving average price is $52.14 and its 200 day moving average price is $52.23.
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, beating the consensus estimate of $0.84 by $0.01. The company had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.46 billion. U.S. Bancorp had a net margin of 25.60% and a return on equity of 13.85%. U.S. Bancorp’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.82 EPS. On average, equities research analysts expect that U.S. Bancorp will post $3.44 EPS for the current year.
U.S. Bancorp announced that its board has authorized a stock repurchase plan on Wednesday, June 28th that authorizes the company to repurchase $2.60 billion in 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.
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A number of research firms have commented on USB. Wells Fargo & Company assumed coverage on shares of U.S. Bancorp in a research report on Wednesday, August 9th. They issued a “market perform” rating and a $56.00 price target on the stock. Jefferies Group LLC reaffirmed a “buy” rating and issued a $59.00 target price on shares of U.S. Bancorp in a research note on Friday, June 9th. BidaskClub downgraded shares of U.S. Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Argus raised shares of U.S. Bancorp from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Thursday, July 20th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $52.50.
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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